Nutanix (NASDAQ:NTNX) Upgraded by Wall Street Zen to "Strong-Buy" Rating

Wall Street Zen upgraded shares of Nutanix (NASDAQ:NTNX - Free Report) from a buy rating to a strong-buy rating in a report published on Sunday morning.

Several other brokerages have also weighed in on NTNX. Morgan Stanley reaffirmed an "overweight" rating and set a $90.00 price objective (up previously from $75.00) on shares of Nutanix in a research report on Tuesday, May 20th. Northland Securities raised Nutanix from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $77.00 to $97.00 in a report on Thursday, February 27th. Wells Fargo & Company lifted their price objective on Nutanix from $75.00 to $85.00 and gave the company an "equal weight" rating in a report on Thursday, February 27th. Raymond James Financial cut Nutanix from an "outperform" rating to a "market perform" rating in a report on Tuesday, May 20th. Finally, Royal Bank Of Canada boosted their target price on Nutanix from $83.00 to $95.00 and gave the stock an "outperform" rating in a research report on Thursday, February 27th. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $90.38.

Nutanix Stock Performance

Shares of Nutanix stock traded down $0.83 during trading on Friday, hitting $72.76. 3,000,607 shares of the stock were exchanged, compared to its average volume of 2,540,028. The stock's fifty day moving average is $73.20 and its 200 day moving average is $69.41. The stock has a market cap of $19.51 billion, a PE ratio of -259.86, a P/E/G ratio of 6.61 and a beta of 0.68. Nutanix has a 12 month low of $43.35 and a 12 month high of $83.36.

Insider Buying and Selling at Nutanix

In other news, CEO Rajiv Ramaswami sold 7,740 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $75.00, for a total value of $580,500.00. Following the completion of the transaction, the chief executive officer now directly owns 558,366 shares in the company, valued at approximately $41,877,450. This represents a 1.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Groen Max Pieter De sold 5,480,467 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $76.81, for a total value of $420,954,670.27. Following the completion of the sale, the director now owns 5,480,468 shares of the company's stock, valued at approximately $420,954,747.08. This trade represents a 50.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,558,364 shares of company stock worth $427,057,406 over the last ninety days. 6.80% of the stock is currently owned by company insiders.

Institutional Trading of Nutanix

A number of institutional investors and hedge funds have recently modified their holdings of NTNX. Larson Financial Group LLC grew its holdings in Nutanix by 28.6% during the fourth quarter. Larson Financial Group LLC now owns 656 shares of the technology company's stock valued at $40,000 after purchasing an additional 146 shares during the period. True Wealth Design LLC lifted its position in shares of Nutanix by 13.2% in the fourth quarter. True Wealth Design LLC now owns 1,249 shares of the technology company's stock worth $76,000 after buying an additional 146 shares in the last quarter. Azzad Asset Management Inc. ADV raised its position in Nutanix by 0.5% during the fourth quarter. Azzad Asset Management Inc. ADV now owns 34,887 shares of the technology company's stock valued at $2,134,000 after purchasing an additional 159 shares during the period. Concurrent Investment Advisors LLC raised its position in Nutanix by 4.4% during the first quarter. Concurrent Investment Advisors LLC now owns 4,163 shares of the technology company's stock valued at $291,000 after purchasing an additional 177 shares during the period. Finally, Avantax Advisory Services Inc. raised its position in Nutanix by 3.4% during the fourth quarter. Avantax Advisory Services Inc. now owns 5,698 shares of the technology company's stock valued at $349,000 after purchasing an additional 188 shares during the period. Institutional investors own 85.25% of the company's stock.

Nutanix Company Profile

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.