Nutanix (NASDAQ:NTNX) Price Target Lowered to $80.00 at Barclays

Nutanix (NASDAQ:NTNXFree Report) had its price target decreased by Barclays from $81.00 to $80.00 in a research report report published on Thursday morning, Benzinga reports. Barclays currently has an overweight rating on the technology company’s stock.

Several other research firms have also recently commented on NTNX. JMP Securities increased their target price on Nutanix from $50.00 to $70.00 and gave the company a market outperform rating in a research note on Monday, February 5th. Royal Bank of Canada increased their price objective on shares of Nutanix from $72.00 to $80.00 and gave the company an overweight rating in a research note on Wednesday, May 29th. Morgan Stanley boosted their target price on shares of Nutanix from $63.00 to $72.00 and gave the stock an equal weight rating in a research report on Thursday, May 23rd. JPMorgan Chase & Co. increased their price target on shares of Nutanix from $70.00 to $80.00 and gave the stock an overweight rating in a research report on Friday, May 24th. Finally, Bank of America boosted their price objective on Nutanix from $55.00 to $65.00 and gave the company a buy rating in a report on Thursday, February 29th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Nutanix presently has a consensus rating of Moderate Buy and a consensus price target of $72.77.

Read Our Latest Stock Analysis on NTNX

Nutanix Stock Performance

Shares of NTNX opened at $55.31 on Thursday. Nutanix has a one year low of $26.47 and a one year high of $73.69. The stock has a 50-day moving average price of $64.64 and a 200 day moving average price of $56.85. The company has a market capitalization of $13.51 billion, a P/E ratio of -790.10 and a beta of 1.27.

Insider Buying and Selling

In other Nutanix news, CEO Rajiv Ramaswami sold 23,932 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $63.05, for a total value of $1,508,912.60. Following the sale, the chief executive officer now directly owns 373,024 shares in the company, valued at $23,519,163.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Rajiv Ramaswami sold 23,932 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $63.05, for a total value of $1,508,912.60. Following the completion of the sale, the chief executive officer now owns 373,024 shares of the company’s stock, valued at $23,519,163.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Rukmini Sivaraman sold 53,029 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $64.77, for a total transaction of $3,434,688.33. Following the transaction, the chief financial officer now directly owns 144,635 shares in the company, valued at approximately $9,368,008.95. The disclosure for this sale can be found here. Insiders sold a total of 104,506 shares of company stock worth $6,668,188 in the last three months. 0.46% of the stock is owned by insiders.

Institutional Trading of Nutanix

A number of hedge funds and other institutional investors have recently modified their holdings of the company. FIL Ltd grew its holdings in Nutanix by 74.7% during the fourth quarter. FIL Ltd now owns 8,908,166 shares of the technology company’s stock worth $424,830,000 after acquiring an additional 3,809,981 shares during the period. Norges Bank acquired a new stake in Nutanix in the 4th quarter valued at about $137,465,000. Jericho Capital Asset Management L.P. bought a new position in shares of Nutanix during the 3rd quarter valued at about $82,421,000. Nordea Investment Management AB grew its stake in shares of Nutanix by 387.1% in the 1st quarter. Nordea Investment Management AB now owns 2,612,812 shares of the technology company’s stock worth $162,229,000 after purchasing an additional 2,076,377 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Nutanix by 29.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,358,768 shares of the technology company’s stock worth $269,024,000 after purchasing an additional 985,421 shares in the last quarter. Institutional investors own 85.25% of the company’s stock.

Nutanix Company Profile

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Nutanix, Inc provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. The company offers hyperconverged infrastructure software stack that converges virtualization, storage, and networking services into a turnkey solution; Acropolis Hypervisor, an enterprise-grade virtualization solution; flow virtual networking and flow network security, which offers services to visualize the network, automate common network operations, and build virtual private networks; Nutanix Kubernetes Engine for automated deployment and management of Kubernetes clusters to simplify the provisioning, operations, and lifecycle management of cloud-native environments, applications, and microservices; and Nutanix Cloud Clusters.

Further Reading

Analyst Recommendations for Nutanix (NASDAQ:NTNX)

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