Nutanix, Inc. (NASDAQ:NTNX) Given Average Rating of “Buy” by Analysts

Nutanix, Inc. (NASDAQ:NTNX) has been given an average recommendation of “Buy” by the fifteen analysts that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation, thirteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $87.79.

Several equities analysts have recently weighed in on NTNX shares. Piper Sandler raised their price objective on shares of Nutanix from $83.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. StockNews.com lowered shares of Nutanix from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 21st. Wells Fargo & Company upped their price objective on shares of Nutanix from $75.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, February 27th. Barclays set a $94.00 price target on shares of Nutanix and gave the company an “overweight” rating in a report on Thursday, February 27th. Finally, Northland Securities raised shares of Nutanix from a “market perform” rating to an “outperform” rating and increased their price target for the company from $77.00 to $97.00 in a report on Thursday, February 27th.

Nutanix Stock Up 0.7 %

Shares of NTNX opened at $73.04 on Monday. The firm has a 50-day moving average price of $69.52 and a 200 day moving average price of $65.98. The firm has a market capitalization of $19.48 billion, a PE ratio of -208.69, a P/E/G ratio of 11.80 and a beta of 1.04. Nutanix has a 52-week low of $43.35 and a 52-week high of $79.99.

Insiders Place Their Bets

In other news, Director Groen Max Pieter De sold 5,500,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $74.51, for a total transaction of $409,805,000.00. Following the transaction, the director now owns 11,354,032 shares of the company’s stock, valued at $845,988,924.32. This represents a 32.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Rajiv Ramaswami sold 95,852 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $70.00, for a total value of $6,709,640.00. Following the completion of the sale, the chief executive officer now owns 540,463 shares of the company’s stock, valued at approximately $37,832,410. This represents a 15.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,603,146 shares of company stock worth $417,065,856. 6.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nutanix

Several hedge funds have recently modified their holdings of NTNX. Quest Partners LLC grew its stake in Nutanix by 107.8% in the 3rd quarter. Quest Partners LLC now owns 7,337 shares of the technology company’s stock valued at $435,000 after buying an additional 3,806 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Nutanix in the third quarter worth $903,000. Advisors Asset Management Inc. lifted its stake in Nutanix by 150.7% in the third quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock worth $32,000 after purchasing an additional 321 shares during the last quarter. Citigroup Inc. lifted its stake in Nutanix by 22.8% in the third quarter. Citigroup Inc. now owns 155,129 shares of the technology company’s stock worth $9,191,000 after purchasing an additional 28,853 shares during the last quarter. Finally, Great Valley Advisor Group Inc. bought a new stake in Nutanix in the third quarter worth $226,000. Institutional investors own 85.25% of the company’s stock.

Nutanix Company Profile

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.