Nutanix (NASDAQ:NTNX) Stock Price Up 6.4% – Should You Buy?

Shares of Nutanix, Inc. (NASDAQ:NTNX) rose 6.4% during trading on Tuesday . The stock traded as high as $66.91 and last traded at $66.99. Approximately 871,922 shares changed hands during trading, a decline of 52% from the average daily volume of 1,821,402 shares. The stock had previously closed at $62.97.

Analyst Upgrades and Downgrades

NTNX has been the subject of several analyst reports. UBS Group initiated coverage on shares of Nutanix in a research report on Thursday, December 12th. They set a “buy” rating and a $81.00 price target for the company. Northland Securities reissued a “market perform” rating and set a $77.00 price target (up from $74.00) on shares of Nutanix in a research report on Wednesday, November 27th. Raymond James cut their price objective on shares of Nutanix from $83.00 to $76.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. Wells Fargo & Company upped their price objective on shares of Nutanix from $60.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. Finally, StockNews.com upgraded shares of Nutanix from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 25th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $78.87.

Nutanix Stock Performance

The business has a 50-day moving average of $65.37 and a 200-day moving average of $60.94. The stock has a market capitalization of $18.22 billion, a price-to-earnings ratio of -194.31, a P/E/G ratio of 10.88 and a beta of 1.16.

Insider Buying and Selling at Nutanix

In other news, CEO Rajiv Ramaswami sold 63,901 shares of Nutanix stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $65.85, for a total value of $4,207,880.85. Following the completion of the transaction, the chief executive officer now owns 649,034 shares in the company, valued at approximately $42,738,888.90. This trade represents a 8.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Rukmini Sivaraman sold 11,810 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $66.63, for a total value of $786,900.30. Following the sale, the chief financial officer now owns 190,882 shares of the company’s stock, valued at approximately $12,718,467.66. The trade was a 5.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 82,065 shares of company stock valued at $5,405,141 in the last three months. 6.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nutanix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. ORG Wealth Partners LLC acquired a new stake in shares of Nutanix in the third quarter valued at approximately $27,000. Larson Financial Group LLC boosted its holdings in shares of Nutanix by 122.7% in the third quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock valued at $30,000 after acquiring an additional 281 shares during the period. Allworth Financial LP boosted its holdings in shares of Nutanix by 123.1% in the fourth quarter. Allworth Financial LP now owns 464 shares of the technology company’s stock valued at $31,000 after acquiring an additional 256 shares during the period. Advisors Asset Management Inc. boosted 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 acquiring an additional 321 shares during the period. Finally, Principal Securities Inc. raised its position in Nutanix by 52.4% in the fourth quarter. Principal Securities Inc. now owns 579 shares of the technology company’s stock worth $35,000 after acquiring an additional 199 shares in the last quarter. 85.25% of the stock is owned by institutional investors and hedge funds.

About Nutanix

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.