Nutanix (NASDAQ:NTNX) Given New $95.00 Price Target at Royal Bank of Canada

Nutanix (NASDAQ:NTNX) had its price objective boosted by analysts at Royal Bank of Canada from $83.00 to $95.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 23.19% from the company’s previous close.

NTNX has been the topic of a number of other research reports. Raymond James set a $83.00 target price on Nutanix in a research report on Thursday. Northland Securities raised shares of Nutanix from a “market perform” rating to an “outperform” rating and raised their target price for the company from $77.00 to $97.00 in a research report on Thursday. Piper Sandler boosted their price target on shares of Nutanix from $83.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday. Barclays set a $94.00 price objective on shares of Nutanix and gave the stock an “overweight” rating in a research note on Thursday. Finally, Needham & Company LLC lifted their target price on Nutanix from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Nutanix currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.07.

Nutanix Stock Up 11.2 %

Shares of NTNX traded up $7.77 during trading hours on Thursday, reaching $77.12. The stock had a trading volume of 4,235,270 shares, compared to its average volume of 1,951,064. The company has a market cap of $20.66 billion, a P/E ratio of -221.52, a P/E/G ratio of 11.80 and a beta of 1.17. The firm has a 50-day moving average of $66.49 and a 200 day moving average of $63.92. Nutanix has a 52 week low of $43.35 and a 52 week high of $79.90.

Insider Buying and Selling

In other Nutanix news, CEO Rajiv Ramaswami sold 95,852 shares of Nutanix stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $70.00, for a total transaction of $6,709,640.00. Following the completion of the transaction, the chief executive officer now directly owns 540,463 shares of the company’s stock, valued at $37,832,410. The trade was a 15.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Rukmini Sivaraman sold 11,810 shares of the stock in a transaction dated Tuesday, December 17th. The shares were 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 directly owns 190,882 shares in the company, valued at $12,718,467.66. The trade was a 5.83 % 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 insiders.

Institutional Investors Weigh In On Nutanix

Institutional investors have recently made changes to their positions in the company. Larson Financial Group LLC lifted its holdings in Nutanix by 28.6% during the 4th quarter. Larson Financial Group LLC now owns 656 shares of the technology company’s stock worth $40,000 after purchasing an additional 146 shares during the last quarter. True Wealth Design LLC increased its position in Nutanix by 13.2% during the 4th quarter. True Wealth Design LLC now owns 1,249 shares of the technology company’s stock worth $76,000 after buying an additional 146 shares during the period. Freedom Investment Management Inc. lifted its holdings in shares of Nutanix by 4.0% during the third quarter. Freedom Investment Management Inc. now owns 3,883 shares of the technology company’s stock worth $230,000 after buying an additional 151 shares in the last quarter. Avantax Advisory Services Inc. boosted its position in shares of Nutanix by 3.4% in the fourth quarter. Avantax Advisory Services Inc. now owns 5,698 shares of the technology company’s stock valued at $349,000 after acquiring an additional 188 shares during the period. Finally, Coldstream Capital Management Inc. grew its stake in shares of Nutanix by 5.8% in the fourth quarter. Coldstream Capital Management Inc. now owns 3,588 shares of the technology company’s stock valued at $220,000 after acquiring an additional 196 shares in the last quarter. 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.