Royal Bank of Canada Increases Nutanix (NASDAQ:NTNX) Price Target to $95.00

Nutanix (NASDAQ:NTNX) had its price target lifted by analysts at Royal Bank of Canada from $83.00 to $95.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price target points to a potential upside of 23.55% from the company’s current price.

Other analysts also recently issued research reports about the stock. Oppenheimer lifted their target price on shares of Nutanix from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday. JPMorgan Chase & Co. lifted their target price on shares of Nutanix from $83.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday. UBS Group began coverage on shares of Nutanix in a report on Thursday, December 12th. They issued a “buy” rating and a $81.00 target price on the stock. Wells Fargo & Company lifted their target price on shares of Nutanix from $75.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Morgan Stanley lifted their target price on shares of Nutanix from $78.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $87.79.

Nutanix Stock Performance

Shares of Nutanix 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 company has a market capitalization of $20.60 billion, a P/E ratio of -219.69, a PEG ratio of 11.80 and a beta of 1.17. The company’s fifty day moving average is $66.98 and its two-hundred day moving average is $64.20.

Insiders Place Their Bets

In other Nutanix news, Director Virginia Gambale sold 6,060 shares of Nutanix stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $64.73, for a total transaction of $392,263.80. Following the completion of the transaction, 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 legal filing with the SEC, which is accessible through this link. Also, CEO Rajiv Ramaswami sold 95,852 shares of Nutanix stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $70.00, for a total transaction of $6,709,640.00. Following the transaction, the chief executive officer now owns 540,463 shares of the company’s stock, valued at approximately $37,832,410. The trade was a 15.06 % 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.

Hedge Funds Weigh In On Nutanix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Harbour Investments Inc. raised its position in Nutanix by 2,612.5% during the fourth quarter. Harbour Investments Inc. now owns 434 shares of the technology company’s stock worth $27,000 after acquiring an additional 418 shares during the last quarter. Colonial Trust Co SC acquired a new position in shares of Nutanix in the fourth quarter valued at approximately $28,000. Allworth Financial LP raised its position in shares of Nutanix by 123.1% in the fourth quarter. Allworth Financial LP now owns 464 shares of the technology company’s stock valued at $31,000 after buying an additional 256 shares during the last quarter. Larson Financial Group LLC raised its position in shares of Nutanix by 122.7% in the third quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock valued at $30,000 after buying an additional 281 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its position in shares of Nutanix by 150.7% in the third quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock valued at $32,000 after buying an additional 321 shares during the last quarter. Institutional investors and hedge funds 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.