Tintri, Inc. (NASDAQ:TNTR) was downgraded by stock analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. They presently have a $6.00 price objective on the stock, down from their prior price objective of $10.00. Morgan Stanley’s price objective points to a potential upside of 3.99% from the stock’s previous close.

Several other equities research analysts have also commented on TNTR. Piper Jaffray Companies initiated coverage on shares of Tintri in a report on Tuesday, July 25th. They issued a “neutral” rating and a $8.50 price target on the stock. William Blair initiated coverage on shares of Tintri in a report on Tuesday, July 25th. They issued an “outperform” rating on the stock. KeyCorp initiated coverage on shares of Tintri in a report on Tuesday, July 25th. They issued an “overweight” rating and a $9.00 price target on the stock. Bank of America Corp initiated coverage on shares of Tintri in a report on Tuesday, July 25th. They issued a “buy” rating and a $16.00 price target on the stock. Finally, Needham & Company LLC initiated coverage on shares of Tintri in a report on Tuesday, July 25th. They issued a “buy” rating and a $15.00 price target on the stock. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Tintri currently has an average rating of “Buy” and an average target price of $10.58.

Shares of Tintri (NASDAQ:TNTR) traded up 0.35% during mid-day trading on Wednesday, hitting $5.77. The company’s stock had a trading volume of 107,788 shares. Tintri has a 52-week low of $5.12 and a 52-week high of $7.75. The stock’s 50 day moving average price is $6.64 and its 200 day moving average price is $6.82. The company’s market cap is $178.36 million.

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In other news, major shareholder Enterprise Associates 12 New acquired 926,429 shares of the firm’s stock in a transaction on Thursday, July 6th. The stock was acquired at an average price of $7.00 per share, for a total transaction of $6,485,003.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher J. Schaepe acquired 597,858 shares of the firm’s stock in a transaction on Thursday, July 6th. The stock was purchased at an average price of $7.00 per share, with a total value of $4,185,006.00. The disclosure for this purchase can be found here.

Several hedge funds and other institutional investors have recently modified their holdings of TNTR. Insight Holdings Group LLC purchased a new position in shares of Tintri during the second quarter worth $38,786,000. NEA Management Company LLC purchased a new position in shares of Tintri during the second quarter worth $38,192,000. Empyrean Capital Partners LP purchased a new position in shares of Tintri during the second quarter worth $6,180,000. JPMorgan Chase & Co. purchased a new position in shares of Tintri during the second quarter worth $4,725,000. Finally, OZ Management LP purchased a new position in shares of Tintri during the second quarter worth $3,612,000. Institutional investors and hedge funds own 36.90% of the company’s stock.

About Tintri

Tintri, Inc is a United States-based company. The Company is engaged in the business of storage management solutions. The Company offers a range of products, including Tintri all-flash array, Tintri hybrid-flash array, Tintri Global Center (TGC), Tintri Analytics, Tintri Storage Software. The Company’s solutions include cloud, desktops, database system and servers, Data protection and disaster recovery and DevOps.

Analyst Recommendations for Tintri (NASDAQ:TNTR)

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