Brokerages Set Nutanix, Inc. (NASDAQ:NTNX) Price Target at $79.50

Shares of Nutanix, Inc. (NASDAQ:NTNX) have received a consensus recommendation of “Buy” from the fifteen brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $87.79.

NTNX has been the topic of several analyst reports. Oppenheimer increased their price objective on shares of Nutanix from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. Barclays set a $94.00 price objective on shares of Nutanix and gave the company an “overweight” rating in a report on Thursday. UBS Group increased their price target on Nutanix from $81.00 to $91.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Needham & Company LLC increased their target price on Nutanix from $90.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, Morgan Stanley upped their price target on shares of Nutanix from $78.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th.

Insider Activity at Nutanix

In other news, CEO Rajiv Ramaswami sold 63,901 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was 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 directly owns 649,034 shares in the company, valued at $42,738,888.90. This trade represents a 8.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Virginia Gambale sold 6,060 shares of Nutanix stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $64.73, for a total transaction of $392,263.80. Following the transaction, the director now directly owns 45,330 shares of the company’s stock, valued at $2,934,210.90. This represents a 11.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 184,917 shares of company stock valued at $12,647,901 in the last quarter. Insiders own 6.80% of the company’s stock.

Institutional Trading of Nutanix

Hedge funds and other institutional investors have recently bought and sold shares of the business. Versor Investments LP boosted its holdings in Nutanix by 211.7% during the 3rd quarter. Versor Investments LP now owns 33,352 shares of the technology company’s stock worth $1,976,000 after acquiring an additional 22,652 shares during the last quarter. Atreides Management LP bought a new stake in Nutanix in the 3rd quarter worth about $8,290,000. CIBC Asset Management Inc increased its stake in Nutanix by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 7,411 shares of the technology company’s stock valued at $453,000 after buying an additional 375 shares during the last quarter. Two Sigma Advisers LP lifted its position in shares of Nutanix by 32.8% during the 3rd quarter. Two Sigma Advisers LP now owns 2,814,002 shares of the technology company’s stock worth $166,730,000 after buying an additional 695,567 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Nutanix by 101.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 41,958 shares of the technology company’s stock worth $2,486,000 after buying an additional 21,086 shares during the last quarter. Institutional investors own 85.25% of the company’s stock.

Nutanix Price Performance

NTNX stock opened at $77.44 on Thursday. The stock has a market capitalization of $20.75 billion, a PE ratio of -221.26, a price-to-earnings-growth ratio of 11.80 and a beta of 1.17. Nutanix has a fifty-two week low of $43.35 and a fifty-two week high of $79.99. The company has a 50 day moving average price of $67.24 and a 200 day moving average price of $64.56.

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.