Nutanix (NASDAQ:NTNX) Stock Rating Reaffirmed by Needham & Company LLC

Nutanix (NASDAQ:NTNX – Get Rating)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a note issued to investors on Tuesday, Benzinga reports. They currently have a $33.00 price objective on the technology company’s stock. Needham & Company LLC’s price target suggests a potential upside of 26.87% from the stock’s current price.

Several other research firms also recently commented on NTNX. Wells Fargo & Company upped their price objective on shares of Nutanix from $20.00 to $32.00 and gave the company an “equal weight” rating in a report on Thursday, December 1st. Morgan Stanley upped their price objective on shares of Nutanix from $26.00 to $30.00 and gave the company an “equal weight” rating in a report on Tuesday, December 13th. Barclays upped their price objective on shares of Nutanix to $34.00 in a report on Friday, December 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $33.00 price objective on shares of Nutanix in a report on Tuesday. Finally, Bank of America upped their price objective on shares of Nutanix from $24.00 to $33.00 in a report on Thursday, December 1st. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Nutanix currently has an average rating of “Moderate Buy” and a consensus target price of $31.75.

Nutanix Trading Down 1.8 %

NASDAQ:NTNX opened at $26.01 on Tuesday. The company has a market cap of $5.99 billion, a PE ratio of -12.21 and a beta of 1.30. Nutanix has a twelve month low of $13.44 and a twelve month high of $33.73. The company’s 50 day moving average is $27.71 and its two-hundred day moving average is $26.16.

Insiders Place Their Bets

In other Nutanix news, insider Tyler Wall sold 9,906 shares of the company’s stock in a transaction on Friday, December 16th. The shares were sold at an average price of $30.51, for a total transaction of $302,232.06. Following the completion of the transaction, the insider now directly owns 138,256 shares in the company, valued at $4,218,190.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Nutanix news, Director Craig Conway sold 25,000 shares of the company’s stock in a transaction on Tuesday, December 20th. The shares were sold at an average price of $30.38, for a total transaction of $759,500.00. Following the completion of the transaction, the director now directly owns 33,363 shares in the company, valued at $1,013,567.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tyler Wall sold 9,906 shares of the company’s stock in a transaction on Friday, December 16th. The stock was sold at an average price of $30.51, for a total transaction of $302,232.06. Following the transaction, the insider now owns 138,256 shares of the company’s stock, valued at $4,218,190.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 324,686 shares of company stock worth $9,538,498. Company insiders own 0.43% of the company’s stock.

Institutional Investors Weigh In On Nutanix

A number of hedge funds have recently modified their holdings of NTNX. Bank of New York Mellon Corp raised its position in shares of Nutanix by 2.0% in the first quarter. Bank of New York Mellon Corp now owns 706,101 shares of the technology company’s stock valued at $18,938,000 after buying an additional 13,696 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Nutanix by 57.0% in the first quarter. Bank of Montreal Can now owns 108,342 shares of the technology company’s stock valued at $2,939,000 after purchasing an additional 39,341 shares during the period. MetLife Investment Management LLC purchased a new stake in shares of Nutanix in the first quarter valued at about $371,000. BlackRock Inc. grew its holdings in shares of Nutanix by 1.2% in the first quarter. BlackRock Inc. now owns 9,703,410 shares of the technology company’s stock valued at $260,245,000 after purchasing an additional 117,982 shares during the period. Finally, Blair William & Co. IL grew its holdings in shares of Nutanix by 12.4% in the first quarter. Blair William & Co. IL now owns 296,205 shares of the technology company’s stock valued at $7,944,000 after purchasing an additional 32,566 shares during the period. 76.95% of the stock is currently owned by institutional investors and hedge funds.

Nutanix Company Profile

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Nutanix, Inc engages in the provision of a cloud platform leveraging web-scale engineering and consumer-grade design. The firm also provides software solutions and cloud services to customers’ enterprise infrastructure. The company was founded by Dheeraj Pandey, Ajeet Singh, and Mohit Aron in 2009 and is headquartered in San Jose, CA.