Nutanix (NASDAQ:NTNX) Price Target Raised to $88.00

Nutanix (NASDAQ:NTNX) had its target price hoisted by Piper Sandler from $83.00 to $88.00 in a report released on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

NTNX has been the topic of a number of other research reports. Wells Fargo & Company upped their target price on Nutanix from $75.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday. JPMorgan Chase & Co. upped their target price on Nutanix from $83.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday. StockNews.com lowered Nutanix from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 21st. Oppenheimer started coverage on Nutanix in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $80.00 target price on the stock. Finally, Barclays set a $94.00 price objective on Nutanix and gave the stock an “overweight” rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Nutanix currently has an average rating of “Buy” and a consensus price target of $87.79.

Nutanix Stock Up 0.5 %

Shares of NASDAQ NTNX opened at $76.89 on Thursday. The business’s 50 day moving average price is $66.98 and its 200 day moving average price is $64.29. The firm has a market cap of $20.60 billion, a P/E ratio of -219.69, a P/E/G ratio of 11.80 and a beta of 1.17. Nutanix has a 52 week low of $43.35 and a 52 week high of $79.90.

Insider Transactions at Nutanix

In other news, CFO Rukmini Sivaraman sold 11,810 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 190,882 shares of the company’s stock, valued at $12,718,467.66. This represents a 5.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Virginia Gambale sold 6,060 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $64.73, for a total value of $392,263.80. Following the transaction, the director now directly owns 45,330 shares of the company’s stock, valued at approximately $2,934,210.90. The trade was a 11.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 177,917 shares of company stock valued at $12,114,781 in the last three months. 6.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Harbour Investments Inc. raised its stake in Nutanix by 2,612.5% in the 4th quarter. Harbour Investments Inc. now owns 434 shares of the technology company’s stock valued at $27,000 after purchasing an additional 418 shares during the last quarter. Colonial Trust Co SC acquired a new position in Nutanix in the 4th quarter valued at $28,000. Allworth Financial LP raised its stake 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 purchasing an additional 256 shares during the last quarter. Larson Financial Group LLC raised its stake in Nutanix by 122.7% in the 3rd quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock valued at $30,000 after purchasing an additional 281 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its stake in Nutanix by 150.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock valued at $32,000 after purchasing an additional 321 shares during the last quarter. 85.25% of the stock is owned by institutional investors and hedge funds.

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.