Analysts Set Nutanix, Inc. (NASDAQ:NTNX) Price Target at $87.79

Shares of Nutanix, Inc. (NASDAQ:NTNX) have received an average rating of “Buy” from the fifteen brokerages that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $87.79.

NTNX has been the subject of several research analyst reports. Oppenheimer lifted their price objective on Nutanix from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. Morgan Stanley lifted their price target on Nutanix from $78.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Wells Fargo & Company increased their price objective on shares of Nutanix from $75.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, February 27th. Raymond James set a $83.00 target price on shares of Nutanix in a research note on Thursday, February 27th. Finally, Piper Sandler increased their price target on shares of Nutanix from $83.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th.

Insiders Place Their Bets

In other Nutanix news, Director Groen Max Pieter De sold 5,500,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $74.51, for a total transaction of $409,805,000.00. Following the sale, the director now directly owns 11,354,032 shares in the company, valued at approximately $845,988,924.32. This trade represents a 32.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Rajiv Ramaswami sold 95,852 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were 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 owns 540,463 shares of the company’s stock, valued at $37,832,410. This trade represents a 15.06 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,610,886 shares of company stock worth $417,646,356. Insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Harbour Investments Inc. lifted its position in shares of 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 acquired a new stake in Nutanix during the 4th quarter valued at approximately $28,000. Larson Financial Group LLC increased its position in shares of Nutanix by 122.7% during the third quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock worth $30,000 after buying an additional 281 shares during the period. Allworth Financial LP grew 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 acquiring an additional 256 shares during the period. Finally, Advisors Asset Management Inc. increased its holdings in Nutanix by 150.7% in the third quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock worth $32,000 after purchasing an additional 321 shares in the last quarter. Institutional investors own 85.25% of the company’s stock.

Nutanix Trading Down 1.3 %

NASDAQ:NTNX opened at $71.02 on Monday. The stock has a market capitalization of $18.94 billion, a P/E ratio of -202.91, a price-to-earnings-growth ratio of 11.80 and a beta of 1.04. Nutanix has a 1 year low of $43.35 and a 1 year high of $79.99. The firm has a 50 day moving average of $70.38 and a 200-day moving average of $66.34.

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.