Nutanix (NASDAQ:NTNX)‘s stock had its “equal weight” rating reaffirmed by equities researchers at Morgan Stanley in a research note issued to investors on Tuesday. They presently have a $52.00 target price on the technology company’s stock, up from their prior target price of $42.00. Morgan Stanley’s price objective would indicate a potential downside of 3.31% from the stock’s current price.
Several other equities analysts have also recently issued reports on NTNX. Wells Fargo & Co initiated coverage on Nutanix in a report on Tuesday, November 14th. They issued an “outperform” rating and a $40.00 price objective for the company. Vetr cut Nutanix from a “strong-buy” rating to a “buy” rating and set a $33.55 price objective for the company. in a report on Tuesday, November 21st. Needham & Company LLC started coverage on Nutanix in a report on Wednesday, November 22nd. They issued a “buy” rating and a $45.00 price objective for the company. Royal Bank of Canada restated an “outperform” rating and issued a $37.00 price target (up previously from $34.00) on shares of Nutanix in a research note on Friday, November 24th. Finally, Robert W. Baird restated a “buy” rating and issued a $41.00 price target (up previously from $31.00) on shares of Nutanix in a research note on Wednesday, November 29th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $46.52.
Shares of Nutanix (NASDAQ:NTNX) traded up $0.74 during mid-day trading on Tuesday, hitting $53.78. The stock had a trading volume of 4,182,499 shares, compared to its average volume of 4,197,249. The firm has a market cap of $8,258.63, a PE ratio of -25.01 and a beta of 2.13. Nutanix has a fifty-two week low of $14.38 and a fifty-two week high of $53.90.
In other news, President Sudheesh Nair Vadakkedath sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $34.35, for a total value of $1,717,500.00. Following the completion of the sale, the president now directly owns 188,330 shares in the company, valued at $6,469,135.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sunil Potti sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $35.70, for a total value of $535,500.00. Following the completion of the sale, the insider now owns 52,805 shares of the company’s stock, valued at $1,885,138.50. The disclosure for this sale can be found here. Insiders sold 2,808,918 shares of company stock valued at $104,706,913 over the last 90 days. Company insiders own 19.81% of the company’s stock.
Several hedge funds have recently bought and sold shares of NTNX. BlackRock Inc. grew its position in shares of Nutanix by 89.6% in the fourth quarter. BlackRock Inc. now owns 5,875,339 shares of the technology company’s stock valued at $207,282,000 after purchasing an additional 2,776,194 shares in the last quarter. Contour Asset Management LLC purchased a new stake in shares of Nutanix in the fourth quarter valued at approximately $35,868,000. Trinity Street Asset Management LLP purchased a new stake in shares of Nutanix in the fourth quarter valued at approximately $29,363,000. Cramer Rosenthal Mcglynn LLC grew its position in shares of Nutanix by 124.9% in the fourth quarter. Cramer Rosenthal Mcglynn LLC now owns 1,473,512 shares of the technology company’s stock valued at $51,986,000 after purchasing an additional 818,378 shares in the last quarter. Finally, State Street Corp grew its position in shares of Nutanix by 146.7% in the second quarter. State Street Corp now owns 547,995 shares of the technology company’s stock valued at $11,042,000 after purchasing an additional 325,821 shares in the last quarter. Institutional investors and hedge funds own 44.29% of the company’s stock.
Nutanix Company Profile
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.
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