Nutanix (NASDAQ:NTNX) was upgraded by investment analysts at Oppenheimer to a “top pick” rating in a research report issued on Wednesday. The firm currently has a $65.00 price target on the technology company’s stock, up from their prior price target of $43.00. Oppenheimer’s price target would suggest a potential upside of 22.78% from the stock’s previous close.
NTNX has been the topic of several other reports. Vetr downgraded shares of Nutanix from a “buy” rating to a “sell” rating and set a $31.98 target price on the stock. in a research report on Tuesday, February 20th. Wells Fargo & Co raised their price target on shares of Nutanix from $43.00 to $52.00 and gave the stock an “outperform” rating in a report on Friday, March 2nd. BTIG Research upgraded shares of Nutanix from a “neutral” rating to a “buy” rating in a report on Friday, March 9th. Maxim Group restated a “buy” rating and set a $51.00 price target on shares of Nutanix in a report on Friday, December 22nd. Finally, Needham & Company LLC initiated coverage on shares of Nutanix in a report on Wednesday, November 22nd. They set a “buy” rating and a $45.00 price target for the company. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $46.52.
Nutanix (NASDAQ:NTNX) traded down $0.10 during trading hours on Wednesday, reaching $52.94. 3,409,280 shares of the company traded hands, compared to its average volume of 4,194,432. Nutanix has a twelve month low of $14.38 and a twelve month high of $53.67. The firm has a market cap of $8,258.63, a P/E ratio of -24.62 and a beta of 2.13.
In other news, Director Jeffrey T. Parks sold 1,858,951 shares of Nutanix stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $37.94, for a total value of $70,528,600.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP David Sangster sold 5,892 shares of Nutanix stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $36.32, for a total transaction of $213,997.44. Following the completion of the sale, the executive vice president now owns 12,500 shares of the company’s stock, valued at approximately $454,000. The disclosure for this sale can be found here. Insiders sold a total of 2,808,918 shares of company stock valued at $104,706,913 in the last quarter. 19.81% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the business. Focused Wealth Management Inc increased its stake in Nutanix by 107.2% during the 4th quarter. Focused Wealth Management Inc now owns 4,059 shares of the technology company’s stock valued at $143,000 after purchasing an additional 2,100 shares in the last quarter. Delpha Capital Management LLC bought a new stake in Nutanix during the 4th quarter valued at $104,000. Brown Advisory Inc. increased its stake in Nutanix by 4.4% during the 3rd quarter. Brown Advisory Inc. now owns 76,570 shares of the technology company’s stock valued at $1,714,000 after purchasing an additional 3,254 shares in the last quarter. Gilder Gagnon Howe & Co. LLC increased its stake in Nutanix by 96.2% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 7,989 shares of the technology company’s stock valued at $282,000 after purchasing an additional 3,918 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. increased its stake in Nutanix by 115.4% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,432 shares of the technology company’s stock valued at $262,000 after purchasing an additional 3,982 shares in the last quarter. Institutional investors and hedge funds own 44.29% of the company’s stock.
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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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