Nutanix (NASDAQ:NTNX) Price Target Raised to $92.00

Nutanix (NASDAQ:NTNX) had its target price boosted by Needham & Company LLC from $90.00 to $92.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 19.65% from the company’s previous close.

A number of other brokerages have also recently weighed in on NTNX. StockNews.com cut shares of Nutanix from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 21st. Morgan Stanley lifted their price target on shares of Nutanix from $78.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Oppenheimer initiated coverage on shares of Nutanix in a research report on Wednesday, November 13th. They set an “outperform” rating and a $80.00 price target on the stock. Raymond James set a $83.00 price target on shares of Nutanix in a research report on Thursday. Finally, Northland Securities raised shares of Nutanix from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $77.00 to $97.00 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. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $87.79.

Nutanix Price Performance

Shares of NTNX stock opened at $76.89 on Thursday. Nutanix has a 1-year low of $43.35 and a 1-year high of $79.90. The firm’s 50-day simple moving average is $66.98 and its 200-day simple moving average is $64.20. The firm has a market cap of $20.60 billion, a P/E ratio of -219.69, a PEG ratio of 11.80 and a beta of 1.17.

Insider Buying and Selling

In related news, Director Virginia Gambale sold 6,060 shares of Nutanix stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $64.73, for a total value of $392,263.80. Following the completion of the sale, the director now owns 45,330 shares in the company, valued at approximately $2,934,210.90. The trade was a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rajiv Ramaswami sold 63,901 shares of Nutanix stock in a transaction 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 completion of the sale, the chief executive officer now owns 649,034 shares of the company’s stock, valued at approximately $42,738,888.90. This trade represents a 8.96 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 177,917 shares of company stock worth $12,114,781. Insiders own 6.80% of the company’s stock.

Institutional Trading of Nutanix

Institutional investors have recently added to or reduced their stakes in the business. Versor Investments LP increased its stake in Nutanix by 211.7% during the third quarter. Versor Investments LP now owns 33,352 shares of the technology company’s stock valued at $1,976,000 after purchasing an additional 22,652 shares during the last quarter. Atreides Management LP bought a new stake in Nutanix during the third quarter valued at $8,290,000. CIBC Asset Management Inc increased its stake in Nutanix by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 7,411 shares of the technology company’s stock valued at $453,000 after purchasing an additional 375 shares during the last quarter. Two Sigma Advisers LP increased its stake in Nutanix by 32.8% during the third quarter. Two Sigma Advisers LP now owns 2,814,002 shares of the technology company’s stock valued at $166,730,000 after purchasing an additional 695,567 shares during the last quarter. Finally, Eagle Asset Management Inc. increased its stake in Nutanix by 10.2% during the third quarter. Eagle Asset Management Inc. now owns 1,355,061 shares of the technology company’s stock valued at $80,287,000 after purchasing an additional 125,657 shares during the last quarter. Institutional investors own 85.25% of the company’s stock.

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.