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

Shares of Nutanix, Inc. (NASDAQ:NTNX) have been given a consensus recommendation of “Moderate Buy” by the fifteen brokerages that are currently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $72.00.

Several equities research analysts have recently commented on the stock. Royal Bank of Canada raised their target price on shares of Nutanix from $72.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 29th. Morgan Stanley lowered their price objective on shares of Nutanix from $72.00 to $62.00 and set an “equal weight” rating for the company in a report on Friday. Raymond James upped their target price on Nutanix from $72.00 to $76.00 and gave the stock an “outperform” rating in a report on Thursday, May 30th. Bank of America raised their target price on Nutanix from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Finally, Piper Sandler upped their price target on Nutanix from $67.00 to $76.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th.

Insider Transactions at Nutanix

In related news, CFO Rukmini Sivaraman sold 12,566 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $53.22, for a total transaction of $668,762.52. Following the completion of the sale, the chief financial officer now owns 144,902 shares of the company’s stock, valued at $7,711,684.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Rukmini Sivaraman sold 12,566 shares of Nutanix stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $53.22, for a total value of $668,762.52. Following the completion of the sale, the chief financial officer now directly owns 144,902 shares in the company, valued at approximately $7,711,684.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO David Sangster sold 10,384 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $54.19, for a total transaction of $562,708.96. Following the transaction, the chief operating officer now owns 64,333 shares in the company, valued at approximately $3,486,205.27. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 99,965 shares of company stock worth $5,965,961. Corporate insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Nutanix

A number of hedge funds have recently added to or reduced their stakes in NTNX. M&T Bank Corp grew its holdings in shares of Nutanix by 3.6% in the fourth quarter. M&T Bank Corp now owns 9,270 shares of the technology company’s stock worth $442,000 after acquiring an additional 325 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Nutanix by 2.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 18,433 shares of the technology company’s stock valued at $1,138,000 after purchasing an additional 369 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Nutanix by 49.7% in the 1st quarter. Venturi Wealth Management LLC now owns 1,208 shares of the technology company’s stock worth $75,000 after purchasing an additional 401 shares during the period. Motley Fool Asset Management LLC boosted its holdings in shares of Nutanix by 10.7% in the first quarter. Motley Fool Asset Management LLC now owns 5,080 shares of the technology company’s stock worth $314,000 after buying an additional 489 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its position in Nutanix by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 100,887 shares of the technology company’s stock valued at $3,519,000 after buying an additional 510 shares during the period. 85.25% of the stock is currently owned by hedge funds and other institutional investors.

Nutanix Stock Up 1.9 %

Shares of Nutanix stock opened at $53.40 on Friday. The business has a 50 day moving average of $61.59 and a 200 day moving average of $57.90. Nutanix has a 52 week low of $26.47 and a 52 week high of $73.69. The company has a market cap of $13.17 billion, a PE ratio of -762.86, a P/E/G ratio of 14.35 and a beta of 1.10.

About Nutanix

Nutanix, Inc provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. The company offers hyperconverged infrastructure software stack that converges virtualization, storage, and networking services into a turnkey solution; Acropolis Hypervisor, an enterprise-grade virtualization solution; flow virtual networking and flow network security, which offers services to visualize the network, automate common network operations, and build virtual private networks; Nutanix Kubernetes Engine for automated deployment and management of Kubernetes clusters to simplify the provisioning, operations, and lifecycle management of cloud-native environments, applications, and microservices; and Nutanix Cloud Clusters.