UBS Group Initiates Coverage on Nutanix (NASDAQ:NTNX)

Analysts at UBS Group started coverage on shares of Nutanix (NASDAQ:NTNX) in a report released on Thursday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $81.00 price target on the technology company’s stock. UBS Group’s price target would indicate a potential upside of 22.63% from the stock’s previous close.

Several other equities research analysts have also commented on NTNX. Raymond James boosted their price objective on shares of Nutanix from $76.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Barclays upped their price target on shares of Nutanix from $75.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. raised their price objective on shares of Nutanix from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Needham & Company LLC lifted their price objective on Nutanix from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Finally, Royal Bank of Canada increased their target price on Nutanix from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $79.00.

Nutanix Stock Performance

Shares of NTNX stock opened at $66.05 on Thursday. The stock has a market cap of $17.52 billion, a PE ratio of -188.71, a P/E/G ratio of 10.14 and a beta of 1.13. Nutanix has a 1 year low of $43.35 and a 1 year high of $75.80. The stock has a fifty day moving average price of $66.13 and a 200 day moving average price of $59.19.

Insider Buying and Selling

In related news, CFO Rukmini Sivaraman sold 24,316 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $58.85, for a total value of $1,430,996.60. Following the completion of the sale, the chief financial officer now directly owns 192,169 shares in the company, valued at approximately $11,309,145.65. The trade was a 11.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO David Sangster sold 11,950 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $59.83, for a total transaction of $714,968.50. Following the transaction, the chief operating officer now directly owns 123,868 shares in the company, valued at approximately $7,411,022.44. This represents a 8.80 % decrease in their position. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by company insiders.

Institutional Trading of Nutanix

Several institutional investors have recently made changes to their positions in the stock. ORG Wealth Partners LLC acquired a new position in Nutanix in the third quarter valued at $27,000. Larson Financial Group LLC raised its holdings in shares of Nutanix by 122.7% in the 3rd quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock worth $30,000 after purchasing an additional 281 shares during the period. Itau Unibanco Holding S.A. acquired a new position in shares of Nutanix in the 2nd quarter valued at about $32,000. Advisors Asset Management Inc. grew its holdings in shares of Nutanix by 150.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock worth $32,000 after purchasing an additional 321 shares during the period. Finally, Signaturefd LLC increased its position in Nutanix by 57.8% during the 3rd quarter. Signaturefd LLC now owns 956 shares of the technology company’s stock worth $57,000 after purchasing an additional 350 shares in the last quarter. 85.25% of the stock is owned by hedge funds and other institutional investors.

Nutanix Company Profile

Nutanix, Inc provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. The company offers hyperconverged infrastructure software stack that converges virtualization, storage, and networking services into a turnkey solution; Acropolis Hypervisor, an enterprise-grade virtualization solution; flow virtual networking and flow network security, which offers services to visualize the network, automate common network operations, and build virtual private networks; Nutanix Kubernetes Engine for automated deployment and management of Kubernetes clusters to simplify the provisioning, operations, and lifecycle management of cloud-native environments, applications, and microservices; and Nutanix Cloud Clusters.