Nutanix (NASDAQ:NTNX) Given New $90.00 Price Target at JPMorgan Chase & Co.

Nutanix (NASDAQ:NTNX) had its price objective boosted by JPMorgan Chase & Co. from $83.00 to $90.00 in a report published on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

NTNX has been the subject of several other reports. UBS Group assumed coverage on shares of Nutanix in a research report on Thursday, December 12th. They set a “buy” rating and a $81.00 price objective for the company. Northland Securities upgraded shares of Nutanix from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $77.00 to $97.00 in a report on Thursday. StockNews.com cut Nutanix from a “strong-buy” rating to a “buy” rating in a report on Friday, February 21st. Raymond James set a $83.00 target price on Nutanix in a research note on Thursday. Finally, Wells Fargo & Company upped their price target on Nutanix from $75.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Nutanix presently has an average rating of “Moderate Buy” and a consensus price target of $87.79.

Nutanix Stock Performance

Shares of Nutanix stock opened at $76.54 on Thursday. The business’s 50 day moving average price is $66.74 and its 200 day moving average price is $64.01. The company has a market cap of $20.51 billion, a price-to-earnings ratio of -218.69, a PEG ratio of 11.80 and a beta of 1.17. Nutanix has a one year low of $43.35 and a one year high of $79.90.

Insiders Place Their Bets

In other Nutanix news, CEO Rajiv Ramaswami sold 63,901 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $65.85, for a total transaction of $4,207,880.85. Following the completion of the transaction, the chief executive officer now owns 649,034 shares in the company, valued at $42,738,888.90. The trade was a 8.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Rukmini Sivaraman sold 11,810 shares of the firm’s stock in a transaction 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 owns 190,882 shares in the company, valued at $12,718,467.66. The trade was a 5.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 177,917 shares of company stock worth $12,114,781 in the last quarter. 6.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NTNX. Creative Planning increased its stake in Nutanix by 26.5% in the third quarter. Creative Planning now owns 13,862 shares of the technology company’s stock valued at $821,000 after purchasing an additional 2,907 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Nutanix by 5,859.5% in the 3rd quarter. International Assets Investment Management LLC now owns 81,884 shares of the technology company’s stock valued at $4,852,000 after buying an additional 80,510 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Nutanix by 310.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 20,928 shares of the technology company’s stock worth $1,240,000 after acquiring an additional 15,829 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Nutanix by 125.0% in the third quarter. Nisa Investment Advisors LLC now owns 13,728 shares of the technology company’s stock valued at $813,000 after acquiring an additional 7,628 shares during the last quarter. Finally, Pallas Capital Advisors LLC boosted its stake in Nutanix by 71.1% in the third quarter. Pallas Capital Advisors LLC now owns 13,048 shares of the technology company’s stock valued at $809,000 after acquiring an additional 5,424 shares in the last quarter. Hedge funds and other 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.