Raymond James Cuts Nutanix (NASDAQ:NTNX) Price Target to $76.00

Nutanix (NASDAQ:NTNX) had its target price lowered by Raymond James from $83.00 to $76.00 in a research note published on Friday morning,Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

Several other equities analysts have also commented on NTNX. Northland Securities reaffirmed a “market perform” rating and issued a $77.00 price objective (up from $74.00) on shares of Nutanix in a research report on Wednesday, November 27th. Wells Fargo & Company raised their price target on shares of Nutanix from $60.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. UBS Group assumed coverage on shares of Nutanix in a report on Thursday, December 12th. They set a “buy” rating and a $81.00 price objective on the stock. Oppenheimer began coverage on Nutanix in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $80.00 target price on the stock. Finally, StockNews.com raised Nutanix from a “buy” rating to a “strong-buy” rating in a research report on Thursday, November 28th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Nutanix presently has an average rating of “Moderate Buy” and a consensus target price of $78.87.

Nutanix Price Performance

Shares of NASDAQ:NTNX opened at $65.14 on Friday. The business’s 50-day moving average is $66.11 and its 200 day moving average is $60.52. Nutanix has a 1 year low of $43.35 and a 1 year high of $75.80. The firm has a market capitalization of $17.45 billion, a P/E ratio of -186.11, a P/E/G ratio of 10.19 and a beta of 1.16.

Insider Activity

In other news, CFO Rukmini Sivaraman sold 11,810 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $66.63, for a total transaction of $786,900.30. Following the sale, the chief financial officer now directly owns 190,882 shares in the company, valued at $12,718,467.66. This trade represents a 5.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Virginia Gambale sold 6,060 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $64.73, for a total value of $392,263.80. Following the completion of the transaction, the director now directly owns 45,330 shares of the company’s stock, valued at $2,934,210.90. The trade was a 11.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 82,065 shares of company stock valued at $5,405,141 in the last three months. 6.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nutanix

Large investors have recently added to or reduced their stakes in the stock. ORG Wealth Partners LLC purchased a new stake in shares of Nutanix during the third quarter worth about $27,000. Larson Financial Group LLC boosted its holdings in Nutanix by 122.7% in the 3rd quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock worth $30,000 after buying an additional 281 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in Nutanix during the 2nd quarter worth approximately $32,000. Advisors Asset Management Inc. raised its holdings in shares of Nutanix by 150.7% during the third quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock valued at $32,000 after acquiring an additional 321 shares during the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of Nutanix by 587.7% in the fourth quarter. Versant Capital Management Inc now owns 729 shares of the technology company’s stock valued at $45,000 after acquiring an additional 623 shares in the last quarter. 85.25% of the stock is currently owned by institutional investors and hedge funds.

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.