Nutanix (NASDAQ:NTNX) Price Target Lowered to $76.00 at Raymond James

Nutanix (NASDAQ:NTNX) had its price target reduced by equities research analysts at Raymond James from $83.00 to $76.00 in a report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Raymond James’ price target indicates a potential upside of 15.30% from the company’s previous close.

A number of other research firms have also issued reports on NTNX. UBS Group began coverage on Nutanix in a report on Thursday, December 12th. They set a “buy” rating and a $81.00 target price on the stock. Piper Sandler increased their target price on shares of Nutanix from $77.00 to $83.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Needham & Company LLC lifted their price target on shares of Nutanix from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Oppenheimer assumed coverage on Nutanix in a research report on Wednesday, November 13th. They set an “outperform” rating and a $80.00 price objective for the company. Finally, Barclays boosted their target price on Nutanix from $75.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Nutanix presently has an average rating of “Moderate Buy” and a consensus price target of $78.87.

Nutanix Stock Down 1.0 %

NTNX stock traded down $0.63 during mid-day trading on Friday, reaching $65.92. The company had a trading volume of 386,305 shares, compared to its average volume of 1,721,088. The stock’s 50-day simple moving average is $66.29 and its two-hundred day simple moving average is $60.43. The stock has a market capitalization of $17.66 billion, a P/E ratio of -188.31, a P/E/G ratio of 10.19 and a beta of 1.16. Nutanix has a one year low of $43.35 and a one year high of $75.80.

Insider Transactions at Nutanix

In other news, Director Virginia Gambale sold 6,060 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $64.73, for a total transaction of $392,263.80. Following the completion of the transaction, the director now directly 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 can be accessed through the SEC website. Also, CEO Rajiv Ramaswami sold 63,901 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now owns 649,034 shares in the company, valued at approximately $42,738,888.90. The trade was a 8.96 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 82,065 shares of company stock worth $5,405,141. 6.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Nutanix

Several large investors have recently added to or reduced their stakes in NTNX. Freedom Investment Management Inc. increased its position in shares of Nutanix by 4.0% during the third quarter. Freedom Investment Management Inc. now owns 3,883 shares of the technology company’s stock valued at $230,000 after purchasing an additional 151 shares during the period. CIBC Asset Management Inc grew its stake in shares of Nutanix by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 7,036 shares of the technology company’s stock valued at $417,000 after purchasing an additional 233 shares during the period. Paragon Capital Management Inc. grew its position in Nutanix by 1.0% in the third quarter. Paragon Capital Management Inc. now owns 26,082 shares of the technology company’s stock valued at $1,545,000 after acquiring an additional 258 shares during the period. Larson Financial Group LLC raised its stake in Nutanix by 122.7% during the third quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock worth $30,000 after acquiring an additional 281 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in shares of Nutanix by 150.7% in the third quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock valued at $32,000 after buying an additional 321 shares during the last quarter. Institutional investors and hedge funds own 85.25% of the company’s stock.

Nutanix Company Profile

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.