Royal Bank of Canada Reiterates “Buy” Rating for Nutanix (NTNX)
Nutanix (NASDAQ:NTNX)‘s stock had its “buy” rating reiterated by equities researchers at Royal Bank of Canada in a research note issued to investors on Friday. They presently have a $43.00 price target on the technology company’s stock. Royal Bank of Canada’s price target points to a potential upside of 10.63% from the company’s previous close.
Several other equities analysts have also issued reports on the company. ValuEngine lowered Nutanix from a “hold” rating to a “sell” rating in a research note on Thursday, November 9th. Zacks Investment Research lowered Nutanix from a “buy” rating to a “hold” rating in a research note on Wednesday, November 8th. Raymond James Financial raised Nutanix from a “market perform” rating to an “outperform” rating and set a $32.00 target price on the stock in a research note on Monday, November 6th. JPMorgan Chase & Co. lowered Nutanix from a “neutral” rating to an “underweight” rating and set a $35.00 target price on the stock. in a research note on Thursday, January 25th. Finally, Vetr lowered Nutanix from a “buy” rating to a “sell” rating and set a $31.98 target price on the stock. in a research note on Tuesday, February 20th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $37.26.
Nutanix (NTNX) opened at $38.87 on Friday. Nutanix has a one year low of $14.38 and a one year high of $38.90. The stock has a market capitalization of $6,235.68, a price-to-earnings ratio of -18.08 and a beta of 2.13.
In other Nutanix news, CEO Dheeraj Pandey sold 71,400 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 288,612 shares in the company, valued at $10,196,661.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David Sangster sold 5,892 shares of the stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $36.32, for a total value of $213,997.44. Following the completion of the sale, the executive vice president now owns 12,500 shares of the company’s stock, valued at $454,000. The disclosure for this sale can be found here. Insiders sold 1,276,667 shares of company stock valued at $45,624,122 over the last 90 days. Corporate insiders own 19.81% of the company’s stock.
Several institutional investors have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Nutanix in the fourth quarter worth about $374,000. Fairfield Bush & CO. increased its holdings in shares of Nutanix by 11.6% in the fourth quarter. Fairfield Bush & CO. now owns 152,175 shares of the technology company’s stock worth $5,368,000 after acquiring an additional 15,775 shares in the last quarter. Rehmann Capital Advisory Group bought a new stake in shares of Nutanix in the fourth quarter worth about $381,000. Xact Kapitalforvaltning AB bought a new stake in shares of Nutanix in the fourth quarter worth about $229,000. Finally, Envestnet Asset Management Inc. bought a new stake in shares of Nutanix in the fourth quarter worth about $4,557,000. Institutional investors own 38.31% of the company’s stock.
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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.
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