Nutanix (NASDAQ:NTNX) Lowered to “Market Perform” Rating by Raymond James

Raymond James lowered shares of Nutanix (NASDAQ:NTNX) from an outperform rating to a market perform rating in a research note issued to investors on Tuesday, Marketbeat.com reports.

Several other research firms also recently issued reports on NTNX. JPMorgan Chase & Co. upped their target price on Nutanix from $83.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Northland Securities upgraded Nutanix from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $77.00 to $97.00 in a research note on Thursday, February 27th. Wells Fargo & Company increased their price objective on Nutanix from $75.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, February 27th. Piper Sandler decreased their target price on Nutanix from $88.00 to $76.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Finally, Northland Capmk upgraded Nutanix from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $88.23.

Nutanix Trading Down 2.0%

Shares of Nutanix stock opened at $81.42 on Tuesday. The firm’s 50 day simple moving average is $69.32 and its two-hundred day simple moving average is $68.26. The firm has a market capitalization of $21.71 billion, a price-to-earnings ratio of -232.63, a PEG ratio of 11.80 and a beta of 0.70. Nutanix has a 12-month low of $43.35 and a 12-month high of $83.36.

Insider Activity at Nutanix

In other Nutanix news, Director Steven J. Gomo sold 7,000 shares of Nutanix stock in a transaction on Friday, February 28th. The shares were sold at an average price of $76.16, for a total value of $533,120.00. Following the completion of the transaction, the director now owns 3,050 shares of the company’s stock, valued at approximately $232,288. The trade was a 69.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rajiv Ramaswami sold 7,740 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $75.00, for a total transaction of $580,500.00. Following the sale, the chief executive officer now directly owns 558,366 shares in the company, valued at approximately $41,877,450. The trade was a 1.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,575,797 shares of company stock worth $415,742,123. 6.80% of the stock is owned by corporate insiders.

Institutional Trading of Nutanix

Several institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Nutanix during the 4th quarter worth approximately $195,758,000. Pictet Asset Management Holding SA grew its stake in Nutanix by 6,785.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,139,340 shares of the technology company’s stock valued at $130,885,000 after acquiring an additional 2,108,269 shares during the period. Artisan Partners Limited Partnership purchased a new stake in Nutanix in the 4th quarter worth $91,639,000. Contour Asset Management LLC acquired a new position in Nutanix during the fourth quarter worth $87,318,000. Finally, AQR Capital Management LLC raised its position in Nutanix by 65.5% during the first quarter. AQR Capital Management LLC now owns 3,604,005 shares of the technology company’s stock worth $246,874,000 after acquiring an additional 1,426,049 shares during the period. 85.25% of the stock is owned by institutional investors and hedge funds.

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.