Nutanix (NASDAQ:NTNX) Hits New 1-Year High – Still a Buy?

Nutanix, Inc. (NASDAQ:NTNX) shares hit a new 52-week high during trading on Monday . The company traded as high as $83.36 and last traded at $83.30, with a volume of 938376 shares traded. The stock had previously closed at $82.77.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Needham & Company LLC upped their price objective on Nutanix from $90.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Northland Capmk upgraded Nutanix from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 27th. Wells Fargo & Company upped their price objective on Nutanix from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. StockNews.com downgraded Nutanix from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 21st. Finally, Barclays set a $94.00 price objective on Nutanix and gave the stock an “overweight” rating in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $87.85.

Nutanix Stock Up 0.4%

The stock has a market capitalization of $22.15 billion, a price-to-earnings ratio of -237.34, a P/E/G ratio of 11.80 and a beta of 0.70. The business has a 50-day simple moving average of $68.72 and a two-hundred day simple moving average of $68.02.

Insiders Place Their Bets

In other Nutanix news, CEO Rajiv Ramaswami sold 61,057 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $79.00, for a total value of $4,823,503.00. Following the completion of the sale, the chief executive officer now directly owns 497,309 shares in the company, valued at $39,287,411. This represents a 10.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Groen Max Pieter De sold 5,500,000 shares of the company’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 completion of the sale, the director now owns 11,354,032 shares of the company’s stock, valued at $845,988,924.32. This trade represents a 32.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,575,797 shares of company stock worth $415,742,123 over the last ninety days. Company insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Nutanix

Institutional investors and hedge funds have recently modified their holdings of the stock. Harbour Investments Inc. lifted its position in shares of Nutanix by 2,612.5% during the 4th 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 last quarter. Colonial Trust Co SC acquired a new stake in shares of Nutanix during the 4th quarter valued at $28,000. Twin Tree Management LP acquired a new stake in shares of Nutanix during the 1st quarter valued at $29,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of Nutanix by 78.0% during the 1st 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 last quarter. Finally, GW&K Investment Management LLC acquired a new stake in shares of Nutanix during the 1st quarter valued at $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.