Nutanix (NASDAQ:NTNX) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Nutanix (NASDAQ:NTNX) had its price objective increased by investment analysts at JPMorgan Chase & Co. from $83.00 to $90.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 17.05% from the stock’s previous close.

Several other research analysts also recently commented on the company. Northland Securities upgraded Nutanix from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $77.00 to $97.00 in a research note on Thursday. UBS Group began coverage on Nutanix in a research note on Thursday, December 12th. They set a “buy” rating and a $81.00 target price for the company. Morgan Stanley boosted their price target on Nutanix from $78.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Barclays set a $94.00 price target on Nutanix and gave the company an “overweight” rating in a research note on Thursday. Finally, Oppenheimer began coverage on Nutanix in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $80.00 price target for the company. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $87.79.

Nutanix Trading Up 0.5 %

Shares of NASDAQ NTNX opened at $76.89 on Thursday. Nutanix has a 12 month low of $43.35 and a 12 month high of $79.90. The stock has a 50 day moving average of $66.98 and a 200-day moving average of $64.20. The company has a market capitalization of $20.60 billion, a P/E ratio of -219.69, a P/E/G ratio of 11.80 and a beta of 1.17.

Insider Buying and Selling at Nutanix

In other news, CFO Rukmini Sivaraman sold 11,810 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $66.63, for a total transaction of $786,900.30. Following the completion of the transaction, the chief financial officer now owns 190,882 shares of the company’s stock, valued at approximately $12,718,467.66. The trade was a 5.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Rajiv Ramaswami sold 63,901 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $65.85, for a total value of $4,207,880.85. Following the transaction, the chief executive officer now directly owns 649,034 shares of the company’s stock, valued at $42,738,888.90. This trade represents a 8.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 177,917 shares of company stock valued at $12,114,781 in the last three months. Corporate insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Nutanix

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Nutanix by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 25,636,598 shares of the technology company’s stock worth $1,568,447,000 after buying an additional 146,854 shares in the last quarter. Bain Capital Investors LLC acquired a new position in Nutanix in the 3rd quarter worth about $998,601,000. Champlain Investment Partners LLC increased its holdings in 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 increased its holdings in 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 purchasing an additional 268,400 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Nutanix by 4.0% in the 4th quarter. Geode Capital Management LLC now owns 4,311,000 shares of the technology company’s stock worth $263,275,000 after purchasing an additional 163,874 shares in the last quarter. Institutional investors and hedge funds 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.