Nutanix (NASDAQ:NTNX) Upgraded at Northland Securities

Northland Securities upgraded shares of Nutanix (NASDAQ:NTNX) from a market perform rating to an outperform rating in a report issued on Thursday, MarketBeat reports. Northland Securities currently has $97.00 price objective on the technology company’s stock, up from their prior price objective of $77.00.

A number of other equities research analysts also recently issued reports on NTNX. Morgan Stanley increased their price target on Nutanix from $78.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Needham & Company LLC raised their price target on Nutanix from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Piper Sandler raised their price target on Nutanix from $77.00 to $83.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Raymond James set a $83.00 price objective on shares of Nutanix in a research report on Thursday. Finally, 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. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $87.79.

Nutanix Stock Up 0.5 %

NASDAQ NTNX opened at $76.89 on Thursday. Nutanix has a 12-month low of $43.35 and a 12-month high of $79.90. The firm has a 50-day moving average price of $66.98 and a two-hundred day moving average price of $64.29. The company has a market capitalization 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.

Insider Transactions at Nutanix

In other news, CFO Rukmini Sivaraman sold 11,810 shares of Nutanix stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $66.63, for a total transaction of $786,900.30. Following 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Rajiv Ramaswami sold 63,901 shares of the company’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 value of $4,207,880.85. Following the completion of the transaction, the chief executive officer now directly owns 649,034 shares of the company’s stock, valued at $42,738,888.90. This represents a 8.96 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 177,917 shares of company stock worth $12,114,781. Corporate insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Nutanix

A number of institutional investors have recently added to or reduced their stakes in NTNX. Harbour Investments Inc. lifted its holdings in shares of Nutanix by 2,612.5% during the fourth quarter. Harbour Investments Inc. now owns 434 shares of the technology company’s stock worth $27,000 after purchasing an additional 418 shares during the period. Colonial Trust Co SC bought a new position in Nutanix during the 4th quarter worth $28,000. Allworth Financial LP lifted its holdings in Nutanix by 123.1% during the 4th quarter. Allworth Financial LP now owns 464 shares of the technology company’s stock worth $31,000 after buying an additional 256 shares during the period. Larson Financial Group LLC grew its position in shares of 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 buying an additional 281 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its stake in shares of Nutanix by 150.7% in the third quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock valued at $32,000 after buying an additional 321 shares during the period. 85.25% of the stock is owned by institutional investors.

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.