Nutanix (NASDAQ:NTNX) Now Covered by Analysts at UBS Group

UBS Group assumed coverage on shares of Nutanix (NASDAQ:NTNX) in a research note released on Thursday, MarketBeat.com reports. The brokerage issued a buy rating and a $81.00 price target on the technology company’s stock.

Several other analysts have also issued reports on the stock. Bank of America lifted their target price on shares of Nutanix from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Wells Fargo & Company raised their target price on Nutanix from $60.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. StockNews.com raised Nutanix from a “buy” rating to a “strong-buy” rating in a research report on Thursday, November 28th. Northland Securities restated a “market perform” rating and issued a $77.00 price target (up previously from $74.00) on shares of Nutanix in a research note on Wednesday, November 27th. Finally, Morgan Stanley upped their price objective on Nutanix from $72.00 to $78.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Three equities research 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 MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $79.00.

Nutanix Stock Down 3.9 %

Shares of NTNX opened at $66.05 on Thursday. The company has a market capitalization of $17.52 billion, a price-to-earnings ratio of -188.71, a PEG ratio of 10.14 and a beta of 1.13. The stock’s 50-day moving average price is $66.23 and its 200-day moving average price is $59.05. Nutanix has a 52 week low of $43.35 and a 52 week high of $75.80.

Insider Buying and Selling at Nutanix

In other Nutanix news, COO David Sangster sold 11,950 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief operating officer now owns 123,868 shares of the company’s stock, valued at approximately $7,411,022.44. This trade represents a 8.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction of $1,430,996.60. Following the completion of the transaction, the chief financial officer now directly owns 192,169 shares of the company’s stock, valued at approximately $11,309,145.65. This represents a 11.23 % decrease in their position. The disclosure for this sale can be found here. 6.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Tidal Investments LLC increased its position in Nutanix by 4.0% during the third quarter. Tidal Investments LLC now owns 22,297 shares of the technology company’s stock worth $1,321,000 after purchasing an additional 862 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Nutanix during the 3rd quarter valued at $111,000. Sanctuary Advisors LLC acquired a new stake in shares of Nutanix during the 3rd quarter worth $555,000. Geode Capital Management LLC raised its position in shares of Nutanix by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,147,126 shares of the technology company’s stock worth $245,968,000 after buying an additional 22,091 shares during the period. Finally, Groupama Asset Managment boosted its holdings in Nutanix by 1.0% in the third quarter. Groupama Asset Managment now owns 707,000 shares of the technology company’s stock valued at $41,890,000 after acquiring an additional 7,000 shares during the last quarter. 85.25% of the stock is currently owned by hedge funds and other institutional investors.

About Nutanix

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.