Nutanix (NASDAQ:NTNX) Price Target Raised to $85.00

Nutanix (NASDAQ:NTNX) had its price target hoisted by equities researchers at Morgan Stanley from $78.00 to $85.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Morgan Stanley’s price target would indicate a potential upside of 34.22% from the company’s previous close.

NTNX has been the topic of several other reports. StockNews.com upgraded Nutanix from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 28th. UBS Group started coverage on Nutanix in a research note on Thursday, December 12th. They issued a “buy” rating and a $81.00 price objective for the company. Needham & Company LLC upped their target price on shares of Nutanix from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Wells Fargo & Company lifted their price target on shares of Nutanix from $60.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. Finally, Northland Securities reissued a “market perform” rating and issued a $77.00 price objective (up from $74.00) on shares of Nutanix in a research report on Wednesday, November 27th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Nutanix currently has an average rating of “Moderate Buy” and a consensus target price of $79.47.

Nutanix Stock Down 4.2 %

Shares of NTNX opened at $63.33 on Tuesday. The company has a market cap of $16.97 billion, a P/E ratio of -180.94, a PEG ratio of 10.34 and a beta of 1.13. Nutanix has a fifty-two week low of $43.35 and a fifty-two week high of $75.80. The firm’s 50 day moving average price is $66.45 and its 200 day moving average price is $59.13.

Insider Transactions at Nutanix

In other Nutanix news, CEO Rajiv Ramaswami sold 63,901 shares of Nutanix stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 649,034 shares of the company’s stock, valued at $42,738,888.90. The trade was a 8.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Rukmini Sivaraman sold 11,810 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 190,882 shares of the company’s stock, valued at $12,718,467.66. The trade was a 5.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NTNX. Tidal Investments LLC raised its holdings in shares of Nutanix by 4.0% in the third quarter. Tidal Investments LLC now owns 22,297 shares of the technology company’s stock valued at $1,321,000 after buying an additional 862 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Nutanix during the 3rd quarter valued at approximately $111,000. Sanctuary Advisors LLC acquired a new stake in Nutanix during the 3rd quarter worth approximately $555,000. Geode Capital Management LLC grew its stake in shares of Nutanix by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,147,126 shares of the technology company’s stock valued at $245,968,000 after purchasing an additional 22,091 shares during the last quarter. Finally, Groupama Asset Managment increased its holdings in shares of Nutanix by 1.0% in the third quarter. Groupama Asset Managment now owns 707,000 shares of the technology company’s stock valued at $41,890,000 after purchasing an additional 7,000 shares during the period. 85.25% of the stock is owned by hedge funds and other institutional investors.

Nutanix Company Profile

Nutanix, Inc provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. The company offers hyperconverged infrastructure software stack that converges virtualization, storage, and networking services into a turnkey solution; Acropolis Hypervisor, an enterprise-grade virtualization solution; flow virtual networking and flow network security, which offers services to visualize the network, automate common network operations, and build virtual private networks; Nutanix Kubernetes Engine for automated deployment and management of Kubernetes clusters to simplify the provisioning, operations, and lifecycle management of cloud-native environments, applications, and microservices; and Nutanix Cloud Clusters.