Piper Sandler Increases Nutanix (NASDAQ:NTNX) Price Target to $88.00

Nutanix (NASDAQ:NTNX) had its price target increased by Piper Sandler from $83.00 to $88.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Piper Sandler’s price target would indicate a potential upside of 14.45% from the stock’s previous close.

Several other brokerages also recently commented on NTNX. StockNews.com downgraded Nutanix from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 21st. Morgan Stanley increased their target price on Nutanix from $78.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. JPMorgan Chase & Co. increased their target price on Nutanix from $83.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday. UBS Group initiated coverage on Nutanix in a research note on Thursday, December 12th. They set a “buy” rating and a $81.00 target price on the stock. Finally, Wells Fargo & Company increased their price target on Nutanix from $75.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday. One investment 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. According to MarketBeat.com, Nutanix presently has a consensus rating of “Buy” and a consensus target price of $87.79.

Nutanix Trading Up 0.5 %

Shares of NTNX opened at $76.89 on Thursday. The business’s fifty day simple moving average is $66.98 and its two-hundred day simple moving average is $64.20. Nutanix has a 12 month low of $43.35 and a 12 month high of $79.90. The company has a market cap of $20.60 billion, a price-to-earnings ratio of -219.69, a P/E/G ratio of 11.80 and a beta of 1.17.

Insider Buying and Selling

In related news, CEO Rajiv Ramaswami sold 95,852 shares of the firm’s 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 transaction, the chief executive officer now directly owns 540,463 shares of the company’s stock, valued at approximately $37,832,410. This trade represents a 15.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Virginia Gambale sold 6,060 shares of the firm’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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 177,917 shares of company stock valued at $12,114,781. 6.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Nutanix

Institutional investors have recently bought and sold shares of the business. Harbour Investments Inc. increased its stake in Nutanix by 2,612.5% in the 4th quarter. Harbour Investments Inc. now owns 434 shares of the technology company’s stock worth $27,000 after buying an additional 418 shares in the last quarter. Colonial Trust Co SC purchased a new stake in Nutanix in the 4th quarter worth $28,000. Larson Financial Group LLC increased its stake in Nutanix by 122.7% in the 3rd quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock worth $30,000 after buying an additional 281 shares in the last quarter. Allworth Financial LP increased its stake in Nutanix by 123.1% in the 4th quarter. Allworth Financial LP now owns 464 shares of the technology company’s stock worth $31,000 after buying an additional 256 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its stake in Nutanix by 150.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock worth $32,000 after buying an additional 321 shares in the last quarter. Hedge funds and other 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.