Raymond James Downgrades Nutanix (NASDAQ:NTNX) to Market Perform

Nutanix (NASDAQ:NTNX) was downgraded by equities research analysts at Raymond James from an “outperform” rating to a “market perform” rating in a research note issued to investors on Tuesday, Marketbeat Ratings reports.

Several other research analysts have also recently issued reports on NTNX. Needham & Company LLC increased their price objective on Nutanix from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. JPMorgan Chase & Co. boosted 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. Royal Bank of Canada increased their price target on shares of Nutanix from $83.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. StockNews.com lowered Nutanix from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 21st. Finally, Oppenheimer increased their price target on shares of Nutanix from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Nutanix has a consensus rating of “Moderate Buy” and a consensus price target of $88.23.

Nutanix Stock Performance

Shares of NTNX opened at $80.00 on Tuesday. Nutanix has a 1 year low of $43.35 and a 1 year high of $83.36. The stock has a market capitalization of $21.33 billion, a P/E ratio of -228.57, a P/E/G ratio of 11.80 and a beta of 0.70. The company’s fifty day moving average is $69.53 and its two-hundred day moving average is $68.34.

Insider Transactions at Nutanix

In related news, Director Groen Max Pieter De sold 5,500,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $74.51, for a total value of $409,805,000.00. Following the sale, the director now directly owns 11,354,032 shares in the company, valued at $845,988,924.32. This trade represents a 32.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven J. Gomo sold 7,000 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $76.16, for a total transaction of $533,120.00. Following the transaction, the director now directly owns 3,050 shares in the company, valued at approximately $232,288. The trade was a 69.65% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,575,797 shares of company stock valued at $415,742,123. Insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Nutanix

Several hedge funds have recently modified their holdings of NTNX. Harbour Investments Inc. boosted its position in Nutanix by 2,612.5% during the 4th quarter. Harbour Investments Inc. now owns 434 shares of the technology company’s stock worth $27,000 after acquiring an additional 418 shares during the period. Colonial Trust Co SC acquired a new stake in shares of Nutanix during the 4th quarter valued at $28,000. Twin Tree Management LP purchased a new position in shares of Nutanix during the 1st quarter valued at $29,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of Nutanix by 78.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 436 shares of the technology company’s stock worth $30,000 after acquiring an additional 191 shares during the last quarter. Finally, GW&K Investment Management LLC purchased a new stake in shares of Nutanix during the first quarter worth $30,000. 85.25% of the stock is owned by hedge funds and other institutional investors.

Nutanix Company Profile

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.