Nutanix (NASDAQ:NTNX) Given Overweight Rating at Morgan Stanley

Nutanix (NASDAQ:NTNX)‘s stock had its “overweight” rating reiterated by stock analysts at Morgan Stanley in a research note issued to investors on Tuesday, MarketBeat reports. They currently have a $90.00 price target on the technology company’s stock, up from their prior price target of $75.00. Morgan Stanley’s price target suggests a potential upside of 12.70% from the company’s previous close.

Several other research analysts have also recently commented on NTNX. Wells Fargo & Company raised their target price on Nutanix from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. JPMorgan Chase & Co. raised their target price on Nutanix from $83.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Northland Capmk raised Nutanix from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 27th. Royal Bank of Canada lifted their price objective on Nutanix from $83.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. Finally, Northland Securities raised Nutanix from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $77.00 to $97.00 in a report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.23.

Nutanix Trading Down 0.2%

Shares of Nutanix stock opened at $79.86 on Tuesday. The company’s fifty day simple moving average is $69.70 and its 200-day simple moving average is $68.46. The company has a market cap of $21.30 billion, a price-to-earnings ratio of -228.17, a PEG ratio of 11.80 and a beta of 0.70. Nutanix has a 1 year low of $43.35 and a 1 year high of $83.36.

Insider Buying and Selling

In other Nutanix news, Director Steven J. Gomo sold 7,000 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $76.16, for a total value of $533,120.00. Following the completion of the transaction, the director now directly owns 3,050 shares in the company, valued at approximately $232,288. This trade represents a 69.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Rajiv Ramaswami sold 7,740 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $75.00, for a total value of $580,500.00. Following the completion of the transaction, the chief executive officer now owns 558,366 shares of the company’s stock, valued at $41,877,450. This represents a 1.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,575,797 shares of company stock worth $415,742,123 in the last ninety days. 6.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Nutanix

Several large investors have recently added to or reduced their stakes in NTNX. Harbour Investments Inc. grew its stake in Nutanix by 2,612.5% in the fourth quarter. Harbour Investments Inc. now owns 434 shares of the technology company’s stock valued at $27,000 after acquiring an additional 418 shares during the period. Colonial Trust Co SC acquired a new stake in Nutanix in the fourth quarter valued at approximately $28,000. Twin Tree Management LP acquired a new stake in Nutanix in the first quarter valued at approximately $29,000. MassMutual Private Wealth & Trust FSB grew its stake in Nutanix by 78.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 436 shares of the technology company’s stock valued at $30,000 after acquiring an additional 191 shares during the period. Finally, GW&K Investment Management LLC acquired a new stake in Nutanix in the first quarter valued at approximately $30,000. 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.