Nutanix (NASDAQ:NTNX) Upgraded to “Outperform” at Northland Securities

Northland Securities upgraded shares of Nutanix (NASDAQ:NTNX) from a market perform rating to an outperform rating in a research report report published on Thursday, Marketbeat.com reports. Northland Securities currently has $97.00 price objective on the technology company’s stock, up from their prior price objective of $77.00.

Several other research firms have also recently weighed in on NTNX. Morgan Stanley raised their target price on shares of Nutanix from $78.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Oppenheimer initiated coverage on shares of Nutanix in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $80.00 target price for the company. Piper Sandler lifted their price objective on shares of Nutanix from $77.00 to $83.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Barclays set a $94.00 price objective on shares of Nutanix and gave the stock an “overweight” rating in a research report on Thursday. Finally, Needham & Company LLC lifted their price objective 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. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Nutanix currently has an average rating of “Moderate Buy” and a consensus target price of $87.79.

Nutanix Trading Up 10.4 %

NASDAQ:NTNX opened at $76.54 on Thursday. Nutanix has a 1-year low of $43.35 and a 1-year high of $79.90. The firm has a fifty day simple moving average of $66.74 and a 200 day simple moving average of $64.01. The stock has a market capitalization of $20.51 billion, a PE ratio of -218.69, a P/E/G ratio of 11.80 and a beta of 1.17.

Insider Transactions at Nutanix

In other Nutanix news, CFO Rukmini Sivaraman sold 11,810 shares of Nutanix stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $66.63, for a total value of $786,900.30. Following the transaction, the chief financial officer now owns 190,882 shares in the company, valued at $12,718,467.66. The trade was a 5.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Rajiv Ramaswami sold 95,852 shares of Nutanix stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $70.00, for a total value of $6,709,640.00. Following the completion of the transaction, the chief executive officer now owns 540,463 shares in the company, valued at approximately $37,832,410. This represents a 15.06 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 177,917 shares of company stock valued at $12,114,781. 6.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Creative Planning grew its holdings in shares of Nutanix by 26.5% during the third quarter. Creative Planning now owns 13,862 shares of the technology company’s stock worth $821,000 after purchasing an additional 2,907 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Nutanix by 5,859.5% in the third quarter. International Assets Investment Management LLC now owns 81,884 shares of the technology company’s stock valued at $4,852,000 after buying an additional 80,510 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Nutanix by 310.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 20,928 shares of the technology company’s stock valued at $1,240,000 after buying an additional 15,829 shares during the period. Nisa Investment Advisors LLC lifted its stake in Nutanix by 125.0% in the third quarter. Nisa Investment Advisors LLC now owns 13,728 shares of the technology company’s stock valued at $813,000 after buying an additional 7,628 shares during the period. Finally, Pallas Capital Advisors LLC raised its position in shares of Nutanix by 71.1% during the third quarter. Pallas Capital Advisors LLC now owns 13,048 shares of the technology company’s stock worth $809,000 after purchasing an additional 5,424 shares during the period. Institutional investors own 85.25% of the company’s stock.

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.