Nutanix (NASDAQ:NTNX) Price Target Raised to $90.00

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

Several other research analysts also recently commented on NTNX. Oppenheimer began coverage on Nutanix in a report on Wednesday, November 13th. They issued an “outperform” rating and a $80.00 price objective on the stock. Piper Sandler lifted their price target on Nutanix from $77.00 to $83.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Barclays set a $94.00 price objective on Nutanix and gave the company an “overweight” rating in a research note on Thursday. StockNews.com downgraded shares of Nutanix from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 21st. Finally, Needham & Company LLC increased their price target on shares of Nutanix from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $87.79.

Nutanix Stock Up 0.5 %

Shares of NASDAQ:NTNX opened at $76.89 on Thursday. The stock has a market cap of $20.60 billion, a PE ratio of -219.69, a PEG ratio of 11.80 and a beta of 1.17. The company’s fifty day moving average is $66.98 and its 200 day moving average is $64.29. Nutanix has a 52 week low of $43.35 and a 52 week high of $79.90.

Insider Activity

In related news, CEO Rajiv Ramaswami sold 95,852 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $70.00, for a total value of $6,709,640.00. Following the sale, the chief executive officer now directly owns 540,463 shares of the company’s stock, valued at $37,832,410. This represents a 15.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 value of $786,900.30. Following 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 177,917 shares of company stock valued at $12,114,781. Corporate insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Nutanix by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 25,636,598 shares of the technology company’s stock worth $1,568,447,000 after acquiring an additional 146,854 shares in the last quarter. Bain Capital Investors LLC bought a new stake in shares of Nutanix in the 3rd quarter worth approximately $998,601,000. Champlain Investment Partners LLC boosted its position in shares of Nutanix by 3.7% in the 3rd quarter. Champlain Investment Partners LLC now owns 5,989,319 shares of the technology company’s stock worth $354,867,000 after purchasing an additional 215,363 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Nutanix by 6.5% in the 4th quarter. Renaissance Technologies LLC now owns 4,418,900 shares of the technology company’s stock worth $270,348,000 after buying an additional 268,400 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Nutanix by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 4,311,000 shares of the technology company’s stock valued at $263,275,000 after buying an additional 163,874 shares in the last quarter. 85.25% of the stock is currently owned by institutional investors.

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.