Nutanix (NASDAQ:NTNX) Trading Up 6.4% – Time to Buy?

Nutanix, Inc. (NASDAQ:NTNX)’s stock price shot up 6.4% during trading on Tuesday . The company traded as high as $66.91 and last traded at $66.99. 871,922 shares changed hands during trading, a decline of 52% from the average session volume of 1,821,402 shares. The stock had previously closed at $62.97.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NTNX. Needham & Company LLC raised their price objective on Nutanix from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Piper Sandler upped their price objective on Nutanix from $77.00 to $83.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Barclays lifted their price target on Nutanix from $75.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Wells Fargo & Company upped their price objective on shares of Nutanix from $60.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Finally, Northland Securities reaffirmed a “market perform” rating and issued a $77.00 price target (up from $74.00) on shares of Nutanix in a research note on Wednesday, November 27th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $78.87.

Nutanix Price Performance

The company has a market cap of $18.31 billion, a PE ratio of -195.23, a price-to-earnings-growth ratio of 10.88 and a beta of 1.16. The company’s 50 day simple moving average is $65.40 and its two-hundred day simple moving average is $60.79.

Insider Buying and Selling at Nutanix

In related news, Director Virginia Gambale sold 6,060 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $64.73, for a total value of $392,263.80. Following the sale, the director now owns 45,330 shares of the company’s stock, valued at $2,934,210.90. This trade represents a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Rukmini Sivaraman sold 11,810 shares of Nutanix stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $66.63, for a total transaction of $786,900.30. Following the sale, the chief financial officer now directly owns 190,882 shares of the company’s stock, valued at approximately $12,718,467.66. This trade represents a 5.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 82,065 shares of company stock valued at $5,405,141 over the last quarter. 6.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. ORG Wealth Partners LLC acquired a new stake in shares of Nutanix in the third quarter valued at approximately $27,000. Larson Financial Group LLC lifted its holdings in Nutanix by 122.7% in the third quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock valued at $30,000 after acquiring an additional 281 shares during the period. Advisors Asset Management Inc. boosted its holdings in Nutanix by 150.7% during the third quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock worth $32,000 after buying an additional 321 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Nutanix by 587.7% in the 4th quarter. Versant Capital Management Inc now owns 729 shares of the technology company’s stock worth $45,000 after acquiring an additional 623 shares during the period. Finally, Berbice Capital Management LLC acquired a new stake in Nutanix in the fourth quarter valued at $49,000. Institutional investors and hedge funds own 85.25% of the company’s stock.

About Nutanix

Nutanix, Inc engages in the provision of a cloud platform leveraging web-scale engineering and consumer-grade design. It operates through the following geographic segments: United States, Europe, the Middle East, Africa, Asia Pacific, and Other Americas. The firm also provides software solutions and cloud services to customers’ enterprise infrastructure.