Nutanix Inc. (NTNX) Downgraded to “Buy” at Vetr Inc.
Nutanix Inc. (NASDAQ:NTNX) was downgraded by research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued on Tuesday. They currently have a $33.55 target price on the technology company’s stock. Vetr‘s price target would suggest a potential upside of 11.09% from the company’s previous close.
Several other equities analysts have also issued reports on the company. Wells Fargo & Company assumed coverage on Nutanix in a research note on Tuesday, November 14th. They issued an “outperform” rating and a $40.00 price target on the stock. ValuEngine lowered Nutanix from a “hold” rating to a “sell” rating in a research note on Thursday, November 9th. Zacks Investment Research lowered Nutanix from a “buy” rating to a “hold” rating in a research note on Wednesday, November 8th. Raymond James Financial, Inc. raised Nutanix from a “market perform” rating to an “outperform” rating and set a $32.00 price target on the stock in a research note on Monday, November 6th. Finally, Piper Jaffray Companies set a $28.00 price target on Nutanix and gave the company a “buy” rating in a research note on Monday, October 23rd. Two analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $30.72.
Shares of Nutanix (NTNX) traded up $0.50 on Tuesday, reaching $30.20. The company’s stock had a trading volume of 3,801,078 shares, compared to its average volume of 3,007,041. Nutanix has a 12-month low of $14.38 and a 12-month high of $34.75.
In other Nutanix news, VP Kenneth W. Long III sold 30,000 shares of the business’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $29.11, for a total value of $873,300.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jeffrey T. Parks sold 30,089 shares of the business’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $29.27, for a total value of $880,705.03. The disclosure for this sale can be found here. In the last three months, insiders sold 1,167,578 shares of company stock worth $31,299,439. Insiders own 19.81% of the company’s stock.
A number of hedge funds have recently bought and sold shares of NTNX. Thompson Davis & CO. Inc. boosted its position in Nutanix by 320.0% in the third quarter. Thompson Davis & CO. Inc. now owns 5,250 shares of the technology company’s stock worth $118,000 after purchasing an additional 4,000 shares during the last quarter. Legal & General Group Plc boosted its position in Nutanix by 3,147.6% in the second quarter. Legal & General Group Plc now owns 8,801 shares of the technology company’s stock worth $175,000 after purchasing an additional 8,530 shares during the last quarter. SG Americas Securities LLC purchased a new position in Nutanix in the second quarter worth $186,000. PNC Financial Services Group Inc. purchased a new position in Nutanix in the second quarter worth $208,000. Finally, Stifel Financial Corp purchased a new position in Nutanix in the third quarter worth $215,000. 32.81% of the stock is currently owned by institutional investors and hedge funds.
Nutanix, Inc is a United States-based company, which provides an enterprise cloud platform that converges silos of server, virtualization and storage into an integrated solution. The Company’s enterprise cloud platform connects to public cloud services. It has operations in the United States; Europe, the Middle East and Africa; Asia-Pacific, and Other Americas.
To view Vetr’s full report, visit Vetr’s official website.
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