Nutanix (NASDAQ:NTNX) Stock Rating Upgraded by Wall Street Zen

Nutanix (NASDAQ:NTNX) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Friday.

A number of other equities research analysts have also weighed in on NTNX. Wells Fargo & Company boosted their price objective on Nutanix from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. Northland Capmk raised Nutanix from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 27th. Piper Sandler reaffirmed an “overweight” rating and issued a $88.00 price objective (up previously from $76.00) on shares of Nutanix in a research note on Thursday. Royal Bank of Canada raised their price objective on shares of Nutanix from $83.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $92.00 target price on shares of Nutanix in a research report on Thursday. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $90.38.

Nutanix Stock Performance

Shares of NASDAQ:NTNX opened at $75.26 on Friday. Nutanix has a 52-week low of $43.35 and a 52-week high of $83.36. The company has a market capitalization of $20.07 billion, a PE ratio of -215.03, a price-to-earnings-growth ratio of 11.80 and a beta of 0.70. The company has a fifty day moving average of $70.30 and a 200-day moving average of $68.80.

Insiders Place Their Bets

In other Nutanix news, CEO Rajiv Ramaswami sold 61,057 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $79.00, for a total transaction of $4,823,503.00. Following the completion of the sale, the chief executive officer now directly owns 497,309 shares in the company, valued at approximately $39,287,411. This trade represents a 10.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Groen Max Pieter De sold 5,500,000 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $74.51, for a total value of $409,805,000.00. Following the completion of the transaction, the director now directly owns 11,354,032 shares in the company, valued at $845,988,924.32. This represents a 32.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,568,797 shares of company stock worth $415,209,003. 6.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nutanix

Several institutional investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC grew its position in shares of Nutanix by 28.6% during the 4th quarter. Larson Financial Group LLC now owns 656 shares of the technology company’s stock worth $40,000 after buying an additional 146 shares during the period. True Wealth Design LLC grew its holdings in 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 purchasing an additional 146 shares during the period. Azzad Asset Management Inc. ADV grew its holdings in Nutanix by 0.5% in the fourth quarter. Azzad Asset Management Inc. ADV now owns 34,887 shares of the technology company’s stock worth $2,134,000 after purchasing an additional 159 shares during the period. Concurrent Investment Advisors LLC increased its stake in Nutanix by 4.4% in 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 in the last quarter. Finally, Avantax Advisory Services Inc. raised its holdings in shares of 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. 85.25% of the stock is owned by institutional investors and hedge funds.

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.