Nutanix (NASDAQ:NTNX) Upgraded to Strong-Buy at Northland Capmk

Northland Capmk upgraded shares of Nutanix (NASDAQ:NTNX) from a hold rating to a strong-buy rating in a research report released on Thursday,Zacks.com reports.

Several other equities research analysts have also issued reports on the stock. Piper Sandler lifted their target price on shares of Nutanix from $83.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday. Northland Securities raised shares of Nutanix from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $77.00 to $97.00 in a report on Thursday. Wells Fargo & Company raised their price target on Nutanix from $75.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday. JPMorgan Chase & Co. upped their price objective on Nutanix from $83.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Oppenheimer raised their price objective on Nutanix from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $87.79.

Nutanix Stock Up 10.4 %

Nutanix stock opened at $76.54 on Thursday. The business has a 50-day simple moving average of $66.74 and a 200 day simple moving average of $64.01. Nutanix has a 52 week low of $43.35 and a 52 week high of $79.90. The stock has a market cap of $20.51 billion, a price-to-earnings ratio of -218.69, a PEG ratio of 11.80 and a beta of 1.17.

Insider Activity at Nutanix

In related news, Director Virginia Gambale sold 6,060 shares of the business’s stock in a transaction dated 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 in the company, valued at $2,934,210.90. The trade was a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Rajiv Ramaswami sold 63,901 shares of the stock in a transaction dated Monday, December 16th. The stock was 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 of the company’s stock, valued at approximately $42,738,888.90. The trade was a 8.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 177,917 shares of company stock worth $12,114,781 in the last 90 days. Company insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Azzad Asset Management Inc. ADV boosted its position in shares of 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 in the last quarter. Forum Financial Management LP bought a new stake in shares of Nutanix during the 4th quarter valued at $230,000. Cache Advisors LLC bought a new stake in Nutanix during the fourth quarter worth about $2,172,000. Vise Technologies Inc. grew its holdings in Nutanix by 10.2% in the fourth quarter. Vise Technologies Inc. now owns 6,487 shares of the technology company’s stock worth $397,000 after purchasing an additional 600 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Nutanix by 48.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,314,509 shares of the technology company’s stock worth $80,422,000 after buying an additional 428,171 shares during the last quarter. Hedge funds and other institutional investors own 85.25% of the company’s stock.

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.