Nutanix (NASDAQ:NTNX) Stock Rating Upgraded by Northland Securities

Nutanix (NASDAQ:NTNX) was upgraded by analysts at Northland Securities from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Thursday,Finviz reports. The firm currently has a $97.00 price target on the technology company’s stock, up from their prior price target of $77.00. Northland Securities’ target price indicates a potential upside of 39.87% from the stock’s previous close.

NTNX has been the subject of a number of other research reports. Oppenheimer began coverage on Nutanix in a research note on Wednesday, November 13th. They set an “outperform” rating and a $80.00 price objective for the company. Wells Fargo & Company lifted their target price on Nutanix from $60.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. StockNews.com cut Nutanix from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 21st. UBS Group began coverage on Nutanix in a report on Thursday, December 12th. They issued a “buy” rating and a $81.00 target price on the stock. Finally, Morgan Stanley raised their target price on Nutanix from $78.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $81.93.

Nutanix Stock Performance

NTNX stock opened at $69.35 on Thursday. Nutanix has a 1 year low of $43.35 and a 1 year high of $75.80. The stock has a 50-day simple moving average of $66.49 and a 200-day simple moving average of $63.92. The firm has a market cap of $18.58 billion, a P/E ratio of -198.14, a price-to-earnings-growth ratio of 11.80 and a beta of 1.17.

Insider Buying and Selling at Nutanix

In other Nutanix news, CEO Rajiv Ramaswami sold 63,901 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $65.85, for a total transaction of $4,207,880.85. Following the completion of the transaction, the chief executive officer now directly owns 649,034 shares in the company, valued at $42,738,888.90. The trade was a 8.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Virginia Gambale sold 6,060 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $64.73, for a total transaction of $392,263.80. Following the transaction, the director now owns 45,330 shares of the company’s stock, valued at approximately $2,934,210.90. This represents a 11.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 177,917 shares of company stock worth $12,114,781 over the last three months. Corporate insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Nutanix

Several institutional investors have recently made changes to their positions in NTNX. 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 valued at $40,000 after acquiring an additional 146 shares during the period. True Wealth Design LLC raised its position in shares of Nutanix by 13.2% during the 4th quarter. True Wealth Design LLC now owns 1,249 shares of the technology company’s stock valued at $76,000 after buying an additional 146 shares in the last quarter. Freedom Investment Management Inc. raised its position in Nutanix by 4.0% in the 3rd quarter. Freedom Investment Management Inc. now owns 3,883 shares of the technology company’s stock worth $230,000 after purchasing an additional 151 shares during the period. Avantax Advisory Services Inc. raised its position in Nutanix by 3.4% in the 4th quarter. Avantax Advisory Services Inc. now owns 5,698 shares of the technology company’s stock worth $349,000 after purchasing an additional 188 shares during the period. Finally, Coldstream Capital Management Inc. increased its position in shares of Nutanix by 5.8% in the fourth quarter. Coldstream Capital Management Inc. now owns 3,588 shares of the technology company’s stock valued at $220,000 after acquiring an additional 196 shares during the period. Institutional investors and hedge funds 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.