Nutanix (NTNX) Downgraded by Vetr
Nutanix (NASDAQ:NTNX) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “buy” rating in a report released on Wednesday. They presently have a $37.59 price objective on the technology company’s stock. Vetr‘s target price would suggest a potential upside of 9.85% from the stock’s current price.
Other analysts have also issued reports about the company. Royal Bank of Canada reissued a “buy” rating and set a $40.00 target price on shares of Nutanix in a report on Friday, December 1st. Needham & Company LLC increased their target price on Nutanix from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, December 1st. Maxim Group raised their price objective on Nutanix from $39.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, December 1st. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Nutanix in a research note on Friday, December 1st. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $41.00 price objective (up from $31.00) on shares of Nutanix in a research note on Wednesday, November 29th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $36.24.
Nutanix (NTNX) traded up $1.03 on Wednesday, hitting $34.22. The stock had a trading volume of 2,650,000 shares, compared to its average volume of 3,460,000. The firm has a market cap of $5,490.00 and a price-to-earnings ratio of -14.14. Nutanix has a 12 month low of $14.38 and a 12 month high of $38.80.
In other news, President Sudheesh Nair Vadakkedath sold 40,000 shares of Nutanix stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $30.35, for a total transaction of $1,214,000.00. Following the sale, the president now directly owns 193,856 shares of the company’s stock, valued at $5,883,529.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David Sangster sold 108,000 shares of Nutanix stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $30.02, for a total value of $3,242,160.00. Following the sale, the executive vice president now directly owns 108,000 shares in the company, valued at $3,242,160. The disclosure for this sale can be found here. Insiders have sold 2,344,581 shares of company stock worth $77,422,126 over the last three months. Insiders own 19.81% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Delpha Capital Management LLC acquired a new stake in shares of Nutanix during the fourth quarter valued at about $104,000. Thompson Davis & CO. Inc. boosted its stake in shares of Nutanix by 320.0% during the third quarter. Thompson Davis & CO. Inc. now owns 5,250 shares of the technology company’s stock valued at $118,000 after purchasing an additional 4,000 shares in the last quarter. Focused Wealth Management Inc boosted its stake in shares of Nutanix by 107.2% during the fourth quarter. Focused Wealth Management Inc now owns 4,059 shares of the technology company’s stock valued at $143,000 after purchasing an additional 2,100 shares in the last quarter. US Bancorp DE boosted its stake in shares of Nutanix by 850.6% during the fourth quarter. US Bancorp DE now owns 4,753 shares of the technology company’s stock valued at $168,000 after purchasing an additional 4,253 shares in the last quarter. Finally, First American Bank acquired a new stake in shares of Nutanix during the fourth quarter valued at about $207,000. 34.83% of the stock is currently owned by hedge funds and other institutional investors.
Nutanix, Inc is a United States-based company, which provides an enterprise cloud platform that converges silos of server, virtualization and storage into an integrated solution. The Company’s enterprise cloud platform connects to public cloud services. It has operations in the United States; Europe, the Middle East and Africa; Asia-Pacific, and Other Americas.
To view Vetr’s full report, visit Vetr’s official website.
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