Nutanix (NASDAQ:NTNX) Price Target Raised to $92.00

Nutanix (NASDAQ:NTNX) had its target price upped by Needham & Company LLC from $90.00 to $92.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Several other research analysts also recently commented on NTNX. Barclays set a $94.00 price objective on Nutanix and gave the company an “overweight” rating in a research note on Thursday. Oppenheimer initiated coverage on Nutanix in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $80.00 target price for the company. Wells Fargo & Company raised their target price on Nutanix from $60.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. Raymond James set a $83.00 target price on Nutanix in a research note on Thursday. Finally, UBS Group initiated coverage on Nutanix in a research note on Thursday, December 12th. They issued a “buy” rating and a $81.00 target price for the company. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Nutanix has a consensus rating of “Buy” and a consensus target price of $87.79.

Nutanix Stock Performance

NASDAQ NTNX opened at $76.89 on Thursday. The business has a fifty day moving average price of $66.98 and a 200 day moving average price of $64.29. Nutanix has a one year low of $43.35 and a one year high of $79.90. The company 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.

Insider Transactions at Nutanix

In related news, CEO Rajiv Ramaswami sold 95,852 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $70.00, for a total transaction of $6,709,640.00. Following the completion of the transaction, the chief executive officer now directly owns 540,463 shares in the company, valued at $37,832,410. This trade represents a 15.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Rukmini Sivaraman sold 11,810 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $66.63, for a total value of $786,900.30. Following the transaction, the chief financial officer now owns 190,882 shares of the company’s stock, valued at $12,718,467.66. This trade represents a 5.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 177,917 shares of company stock worth $12,114,781. 6.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nutanix

Hedge funds and other institutional investors have recently bought and sold shares of the company. Harbour Investments Inc. boosted its holdings in Nutanix by 2,612.5% during the 4th quarter. Harbour Investments Inc. now owns 434 shares of the technology company’s stock valued at $27,000 after acquiring an additional 418 shares during the period. Colonial Trust Co SC purchased a new position in Nutanix during the 4th quarter valued at about $28,000. Allworth Financial LP boosted its stake in shares of 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 buying an additional 256 shares during the period. Larson Financial Group LLC boosted its stake 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 period. Finally, Advisors Asset Management Inc. boosted its stake in shares of 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 buying an additional 321 shares during the period. 85.25% of the stock is currently owned by hedge funds and other 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.