Brokerages Set Nutanix, Inc. (NASDAQ:NTNX) Price Target at $78.87

Shares of Nutanix, Inc. (NASDAQ:NTNX) have earned an average rating of “Moderate Buy” from the fifteen analysts that are presently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $79.50.

A number of research firms have issued reports on NTNX. Oppenheimer initiated coverage on shares of Nutanix in a research report on Wednesday, November 13th. They set an “outperform” rating and a $80.00 price target for the company. Wells Fargo & Company boosted their target price on shares of Nutanix from $60.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. Northland Securities reaffirmed a “market perform” rating and issued a $77.00 price target (up from $74.00) on shares of Nutanix in a report on Wednesday, November 27th. Morgan Stanley lifted their price objective on Nutanix from $78.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Raymond James dropped their target price on Nutanix from $83.00 to $76.00 and set an “outperform” rating on the stock in a report on Friday, January 17th.

Nutanix Stock Down 1.0 %

Shares of NASDAQ:NTNX opened at $70.85 on Friday. Nutanix has a 52-week low of $43.35 and a 52-week high of $75.80. The stock has a market cap of $18.98 billion, a price-to-earnings ratio of -202.43, a PEG ratio of 11.26 and a beta of 1.17. The business has a 50-day moving average price of $65.21 and a 200-day moving average price of $61.65.

Insider Buying and Selling at Nutanix

In other Nutanix news, CEO Rajiv Ramaswami sold 95,852 shares of Nutanix stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $70.00, for a total transaction of $6,709,640.00. Following the transaction, the chief executive officer now directly owns 540,463 shares of the company’s stock, valued at $37,832,410. The trade was a 15.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Rukmini Sivaraman sold 11,810 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $66.63, for a total transaction of $786,900.30. Following the completion of 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 177,917 shares of company stock worth $12,114,781. Insiders own 6.80% of the company’s stock.

Institutional Trading of Nutanix

Institutional investors have recently added to or reduced their stakes in the stock. ORG Wealth Partners LLC acquired a new stake in shares of Nutanix in the third quarter valued at $27,000. Allworth Financial LP grew its position in Nutanix by 123.1% in the 4th quarter. Allworth Financial LP now owns 464 shares of the technology company’s stock valued at $31,000 after acquiring an additional 256 shares in the last quarter. Larson Financial Group LLC increased its stake in Nutanix by 122.7% during the third quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock worth $30,000 after purchasing an additional 281 shares during the period. Advisors Asset Management Inc. lifted its position in shares of 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 purchasing an additional 321 shares in the last quarter. Finally, Principal Securities Inc. boosted its stake in shares of Nutanix by 52.4% in the fourth quarter. Principal Securities Inc. now owns 579 shares of the technology company’s stock valued at $35,000 after purchasing an additional 199 shares during the period. Institutional investors and hedge funds own 85.25% of the company’s stock.

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.