Brokerages Set Nutanix, Inc. (NASDAQ:NTNX) Target Price at $90.38

Nutanix, Inc. (NASDAQ:NTNX) has earned an average rating of “Moderate Buy” from the fourteen analysts that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $90.38.

A number of brokerages have commented on NTNX. JPMorgan Chase & Co. increased their price target on shares of Nutanix from $83.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and issued a $92.00 price target on shares of Nutanix in a research note on Thursday, May 29th. Susquehanna increased their price target on shares of Nutanix from $90.00 to $95.00 and gave the company a “positive” rating in a research note on Thursday, May 29th. Barclays set a $94.00 price target on shares of Nutanix and gave the company an “overweight” rating in a research note on Thursday, February 27th. Finally, UBS Group increased their price target on shares of Nutanix from $81.00 to $91.00 and gave the company a “buy” rating in a research note on Thursday, February 27th.

Nutanix Price Performance

Shares of NTNX stock opened at $75.44 on Friday. The stock has a market cap of $20.12 billion, a P/E ratio of -215.54, a P/E/G ratio of 11.80 and a beta of 0.69. The company has a fifty day moving average price of $71.02 and a two-hundred day moving average price of $69.08. Nutanix has a one year low of $43.35 and a one year high of $83.36.

Insider Buying and Selling

In related news, CEO Rajiv Ramaswami sold 61,057 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $79.00, for a total transaction of $4,823,503.00. Following the transaction, the chief executive officer now directly owns 497,309 shares of the company’s stock, valued at approximately $39,287,411. This trade represents a 10.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Groen Max Pieter De sold 5,480,467 shares of the firm’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $76.81, for a total transaction of $420,954,670.27. Following the transaction, the director now directly owns 5,480,468 shares in the company, valued at approximately $420,954,747.08. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,556,264 shares of company stock valued at $426,904,673. 6.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Nutanix

A number of hedge funds have recently bought and sold shares of NTNX. Inspire Investing LLC grew its stake in Nutanix by 43.1% during the first quarter. Inspire Investing LLC now owns 41,472 shares of the technology company’s stock worth $2,895,000 after buying an additional 12,489 shares in the last quarter. Reliant Investment Partners LLC acquired a new stake in Nutanix during the first quarter worth about $223,000. IFM Investors Pty Ltd grew its stake in Nutanix by 4.6% during the first quarter. IFM Investors Pty Ltd now owns 48,745 shares of the technology company’s stock worth $3,403,000 after buying an additional 2,159 shares in the last quarter. Bayforest Capital Ltd grew its stake in Nutanix by 61.1% during the first quarter. Bayforest Capital Ltd now owns 4,410 shares of the technology company’s stock worth $308,000 after buying an additional 1,672 shares in the last quarter. Finally, Aristeia Capital L.L.C. grew its stake in Nutanix by 17.3% during the first quarter. Aristeia Capital L.L.C. now owns 114,600 shares of the technology company’s stock worth $8,000,000 after buying an additional 16,900 shares in the last quarter. 85.25% of the stock is owned by institutional investors.

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.