Nutanix (NTNX) Given New $42.00 Price Target at Morgan Stanley
Nutanix (NASDAQ:NTNX) had its target price lifted by Morgan Stanley from $39.00 to $42.00 in a report released on Friday morning. Morgan Stanley currently has an equal weight rating on the technology company’s stock.
Several other research firms have also weighed in on NTNX. Oppenheimer restated a buy rating and set a $43.00 price target on shares of Nutanix in a research report on Tuesday, January 9th. KeyCorp restated an overweight rating and set a $42.00 price target (up from $37.00) on shares of Nutanix in a research report on Thursday, January 11th. JPMorgan Chase & Co. lowered Nutanix from a neutral rating to an underweight rating and set a $35.00 price target on the stock. in a research report on Thursday, January 25th. Maxim Group restated a buy rating and set a $54.00 price target (up from $51.00) on shares of Nutanix in a research report on Friday. Finally, Wells Fargo & Co lifted their price target on Nutanix from $43.00 to $52.00 and gave the company an outperform rating in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $37.26.
Shares of Nutanix (NTNX) traded up $2.67 during mid-day trading on Friday, hitting $38.87. The stock had a trading volume of 9,808,247 shares, compared to its average volume of 3,570,000. The company has a market cap of $6,700.00 and a price-to-earnings ratio of -18.08. Nutanix has a 12-month low of $14.38 and a 12-month high of $38.90.
In other news, CEO Dheeraj Pandey sold 71,400 shares of the business’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $35.33, for a total value of $2,522,562.00. Following the completion of the transaction, the chief executive officer now owns 288,612 shares in the company, valued at $10,196,661.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Sudheesh Nair Vadakkedath sold 40,000 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $33.94, for a total value of $1,357,600.00. The disclosure for this sale can be found here. Insiders have sold 1,276,667 shares of company stock valued at $45,624,122 in the last quarter. 19.81% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Nutanix in the fourth quarter worth $374,000. Fairfield Bush & CO. increased its position in Nutanix by 11.6% during the fourth quarter. Fairfield Bush & CO. now owns 152,175 shares of the technology company’s stock valued at $5,368,000 after acquiring an additional 15,775 shares during the last quarter. Rehmann Capital Advisory Group purchased a new stake in Nutanix during the fourth quarter valued at $381,000. Xact Kapitalforvaltning AB purchased a new stake in Nutanix during the fourth quarter valued at $229,000. Finally, Envestnet Asset Management Inc. purchased a new stake in Nutanix during the fourth quarter valued at $4,557,000. Hedge funds and other institutional investors own 38.31% of the company’s stock.
Nutanix Company Profile
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.
Receive News & Ratings for Nutanix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nutanix and related companies with MarketBeat.com's FREE daily email newsletter.