Nutanix (NASDAQ:NTNX) Price Target Raised to $95.00 at Royal Bank of Canada

Nutanix (NASDAQ:NTNX) had its target price hoisted by equities researchers at Royal Bank of Canada from $83.00 to $95.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 23.19% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. increased their price objective on Nutanix from $83.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday. UBS Group started coverage on shares of Nutanix in a research report on Thursday, December 12th. They set a “buy” rating and a $81.00 price objective for the company. StockNews.com cut shares of Nutanix from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 21st. Northland Securities upgraded Nutanix from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $77.00 to $97.00 in a research note on Thursday. Finally, Oppenheimer raised their price objective on Nutanix from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $87.07.

Nutanix Price Performance

Shares of NASDAQ NTNX traded up $7.77 during trading hours on Thursday, hitting $77.12. 4,235,270 shares of the company’s stock were exchanged, compared to its average volume of 1,951,064. The stock has a market capitalization of $20.66 billion, a price-to-earnings ratio of -221.52, a PEG ratio of 11.80 and a beta of 1.17. The company’s 50-day moving average price is $66.49 and its 200-day moving average price is $63.92. Nutanix has a 1-year low of $43.35 and a 1-year high of $79.90.

Insider Activity

In other Nutanix news, CEO Rajiv Ramaswami sold 95,852 shares of Nutanix 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 completion of the transaction, the chief executive officer now owns 540,463 shares in the company, valued at approximately $37,832,410. The trade was a 15.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Virginia Gambale sold 6,060 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $64.73, for a total value of $392,263.80. Following the completion of the transaction, the director now directly owns 45,330 shares in the company, valued at approximately $2,934,210.90. This represents a 11.79 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 177,917 shares of company stock worth $12,114,781. Insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Nutanix

Institutional investors have recently modified their holdings of the stock. Harbour Investments Inc. boosted its position in Nutanix by 2,612.5% in the 4th quarter. Harbour Investments Inc. now owns 434 shares of the technology company’s stock valued at $27,000 after buying an additional 418 shares during the last quarter. Colonial Trust Co SC bought a new position in Nutanix in the fourth quarter valued at approximately $28,000. Larson Financial Group LLC grew its holdings in Nutanix by 122.7% during the 3rd quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock worth $30,000 after acquiring 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. lifted 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 purchasing an additional 321 shares during the period. 85.25% of the stock is 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.