Wells Fargo & Company Issues Positive Forecast for Nutanix (NASDAQ:NTNX) Stock Price

Nutanix (NASDAQ:NTNX) had its price target boosted by investment analysts at Wells Fargo & Company from $75.00 to $85.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 22.57% from the stock’s current price.

A number of other analysts also recently weighed in on the stock. Northland Securities raised shares of Nutanix from a “market perform” rating to an “outperform” rating and increased their target price for the company from $77.00 to $97.00 in a research report on Thursday. Barclays set a $94.00 price objective on shares of Nutanix and gave the stock an “overweight” rating in a research report on Thursday. StockNews.com lowered shares of Nutanix from a “strong-buy” rating to a “buy” rating in a report on Friday, February 21st. Needham & Company LLC boosted their target price on shares of Nutanix from $90.00 to $92.00 and gave the company a “buy” rating in a report on Thursday. Finally, Raymond James set a $83.00 target price on shares of Nutanix in a report on Thursday. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $83.86.

Nutanix Trading Up 3.6 %

NASDAQ NTNX opened at $69.35 on Thursday. Nutanix has a 12 month low of $43.35 and a 12 month high of $75.80. The firm has a market capitalization of $18.58 billion, a PE ratio of -198.14, a price-to-earnings-growth ratio of 11.80 and a beta of 1.17. The business’s 50-day moving average price is $66.49 and its two-hundred day moving average price is $63.92.

Insider Activity

In related news, CFO Rukmini Sivaraman sold 11,810 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was 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 owns 190,882 shares in the company, valued at approximately $12,718,467.66. This represents a 5.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Rajiv Ramaswami sold 95,852 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $70.00, for a total value of $6,709,640.00. Following the sale, the chief executive officer now owns 540,463 shares of the company’s stock, valued at $37,832,410. This trade represents a 15.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 177,917 shares of company stock worth $12,114,781 over the last quarter. 6.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nutanix

Several institutional investors have recently bought and sold shares of NTNX. Bain Capital Investors LLC bought a new position in Nutanix in the 3rd quarter valued at $998,601,000. Norges Bank bought a new position in Nutanix in the 4th quarter valued at $195,758,000. Pictet Asset Management Holding SA grew its stake in Nutanix by 6,785.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,139,340 shares of the technology company’s stock valued at $130,885,000 after purchasing an additional 2,108,269 shares during the period. Artisan Partners Limited Partnership bought a new position in Nutanix in the 4th quarter valued at $91,639,000. Finally, Contour Asset Management LLC bought a new position in Nutanix in the 4th quarter valued at $87,318,000. Institutional investors 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.