Nutanix (NASDAQ:NTNX)‘s stock had its “underweight” rating reiterated by JPMorgan Chase & Co. in a note issued to investors on Tuesday. They currently have a $37.00 price objective on the technology company’s stock, up from their prior price objective of $32.00. JPMorgan Chase & Co.’s price target would suggest a potential downside of 31.33% from the stock’s previous close.
Other equities analysts have also recently issued reports about the stock. Jefferies Group boosted their target price on shares of Nutanix to $60.00 and gave the company a “buy” rating in a research note on Tuesday. Needham & Company LLC boosted their target price on shares of Nutanix from $48.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday. Wells Fargo & Co boosted their target price on shares of Nutanix to $60.00 and gave the company an “outperform” rating in a research note on Tuesday. Royal Bank of Canada boosted their target price on shares of Nutanix to $58.00 and gave the company an “outperform” rating in a research note on Tuesday. They noted that the move was a valuation call. Finally, Robert W. Baird reiterated an “outperform” rating on shares of Nutanix in a research note on Tuesday. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $46.52.
Nutanix (NTNX) traded up $0.84 on Tuesday, hitting $53.88. 4,075,758 shares of the company traded hands, compared to its average volume of 4,197,249. Nutanix has a 1 year low of $14.38 and a 1 year high of $53.90. The firm has a market cap of $8,258.63, a PE ratio of -24.62 and a beta of 2.13.
In other news, President Sudheesh Nair Vadakkedath sold 50,000 shares of the company’s stock in a transaction on Tuesday, December 26th. The shares were sold at an average price of $34.35, for a total transaction of $1,717,500.00. Following the completion of the sale, the president now owns 188,330 shares of the company’s stock, valued at $6,469,135.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Kenneth W. Long III sold 60,000 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $35.87, for a total transaction of $2,152,200.00. Following the sale, the vice president now directly owns 176,171 shares of the company’s stock, valued at approximately $6,319,253.77. The disclosure for this sale can be found here. Insiders have sold 2,808,918 shares of company stock valued at $104,706,913 over the last 90 days. 19.81% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Delpha Capital Management LLC purchased a new stake in shares of Nutanix during the fourth quarter worth $104,000. Focused Wealth Management Inc grew its holdings in shares of Nutanix by 107.2% during the fourth quarter. Focused Wealth Management Inc now owns 4,059 shares of the technology company’s stock worth $143,000 after buying an additional 2,100 shares in the last quarter. US Bancorp DE grew its holdings in shares of Nutanix by 850.6% during the fourth quarter. US Bancorp DE now owns 4,753 shares of the technology company’s stock worth $168,000 after buying an additional 4,253 shares in the last quarter. First American Bank purchased a new stake in shares of Nutanix during the fourth quarter worth $207,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Nutanix during the fourth quarter worth $212,000. 44.29% of the stock is owned by institutional investors and hedge funds.
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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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