Wall Street Zen Downgrades Nutanix (NASDAQ:NTNX) to Buy

Nutanix (NASDAQ:NTNX - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued on Saturday.

Other equities analysts have also recently issued research reports about the company. JPMorgan Chase & Co. raised their price target on Nutanix from $83.00 to $90.00 and gave the company an "overweight" rating in a report on Thursday, February 27th. Northland Securities upgraded Nutanix from a "market perform" rating to an "outperform" rating and raised their price target for the company from $77.00 to $97.00 in a report on Thursday, February 27th. Royal Bank of Canada raised their price target on Nutanix from $83.00 to $95.00 and gave the company an "outperform" rating in a report on Thursday, February 27th. Susquehanna raised their price target on Nutanix from $90.00 to $95.00 and gave the company a "positive" rating in a report on Thursday, May 29th. Finally, Oppenheimer raised their price target on Nutanix from $90.00 to $100.00 and gave the company an "outperform" rating in a report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $90.38.

Nutanix Stock Performance

Shares of NASDAQ:NTNX opened at $72.13 on Friday. Nutanix has a twelve month low of $43.35 and a twelve month high of $83.36. The firm has a market cap of $19.23 billion, a PE ratio of -206.09, a price-to-earnings-growth ratio of 11.80 and a beta of 0.69. The business has a fifty day moving average of $72.11 and a 200-day moving average of $69.16.

Insiders Place Their Bets

In other news, CEO Rajiv Ramaswami sold 7,740 shares of Nutanix stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $75.00, for a total transaction of $580,500.00. Following the transaction, the chief executive officer now owns 558,366 shares in the company, valued at $41,877,450. The trade was a 1.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Virginia Gambale sold 7,000 shares of Nutanix stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $78.00, for a total value of $546,000.00. Following the transaction, the director now owns 38,330 shares in the company, valued at $2,989,740. This trade represents a 15.44% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,556,264 shares of company stock worth $426,904,673. Insiders own 6.80% of the company's stock.

Institutional Investors Weigh In On Nutanix

A number of hedge funds and other institutional investors have recently bought and sold shares of NTNX. Yousif Capital Management LLC acquired a new stake in Nutanix in the 4th quarter valued at approximately $201,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Nutanix by 73.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,679 shares of the technology company's stock worth $104,000 after acquiring an additional 711 shares during the last quarter. Asset Management One Co. Ltd. acquired a new position in shares of Nutanix during the 4th quarter worth approximately $5,572,000. New York State Teachers Retirement System acquired a new position in shares of Nutanix during the 4th quarter worth approximately $908,000. Finally, Rhumbline Advisers increased its holdings in shares of Nutanix by 15.2% during the 4th quarter. Rhumbline Advisers now owns 626,894 shares of the technology company's stock worth $38,353,000 after acquiring an additional 82,484 shares during the last quarter. Institutional investors and hedge funds own 85.25% of the company's stock.

About Nutanix

Nutanix, Inc engages in the provision of a cloud platform leveraging web-scale engineering and consumer-grade design. It operates through the following geographic segments: United States, Europe, the Middle East, Africa, Asia Pacific, and Other Americas. The firm also provides software solutions and cloud services to customers' enterprise infrastructure.

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