Analysts Set Nutanix, Inc. (NASDAQ:NTNX) Target Price at $79.47

Nutanix, Inc. (NASDAQ:NTNX) has been given an average recommendation of “Moderate Buy” by the seventeen research firms that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $79.47.

NTNX has been the subject of a number of analyst reports. Barclays increased their price target on Nutanix from $75.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Needham & Company LLC upped their price objective on shares of Nutanix from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Oppenheimer initiated coverage on Nutanix in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $80.00 target price on the stock. UBS Group started coverage on Nutanix in a report on Thursday, December 12th. They set a “buy” rating and a $81.00 price target on the stock. Finally, Piper Sandler raised their target price on Nutanix from $77.00 to $83.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th.

Nutanix Stock Performance

NTNX stock opened at $62.23 on Wednesday. The company has a market capitalization of $16.67 billion, a P/E ratio of -177.80, a price-to-earnings-growth ratio of 10.34 and a beta of 1.16. Nutanix has a 52-week low of $43.35 and a 52-week high of $75.80. The business has a 50-day simple moving average of $66.33 and a two-hundred day simple moving average of $60.22.

Insider Activity at Nutanix

In other news, CFO Rukmini Sivaraman sold 11,810 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $66.63, for a total value of $786,900.30. Following the transaction, the chief financial officer now owns 190,882 shares of the company’s stock, valued at approximately $12,718,467.66. This represents a 5.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Virginia Gambale sold 6,060 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $64.73, for a total value of $392,263.80. Following the completion of the sale, the director now owns 45,330 shares in the company, valued at $2,934,210.90. This trade represents a 11.79 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 81,771 shares of company stock worth $5,387,045. Corporate insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Nutanix

Institutional investors have recently added to or reduced their stakes in the business. Bain Capital Investors LLC bought a new stake in shares of Nutanix during the 3rd quarter valued at about $998,601,000. Champlain Investment Partners LLC raised its stake in Nutanix by 3.7% in the third quarter. Champlain Investment Partners LLC now owns 5,989,319 shares of the technology company’s stock valued at $354,867,000 after purchasing an additional 215,363 shares in the last quarter. Geode Capital Management LLC lifted its position in Nutanix by 0.5% during the third quarter. Geode Capital Management LLC now owns 4,147,126 shares of the technology company’s stock valued at $245,968,000 after purchasing an additional 22,091 shares during the last quarter. Renaissance Technologies LLC lifted its position in Nutanix by 7.4% during the second quarter. Renaissance Technologies LLC now owns 3,738,756 shares of the technology company’s stock valued at $212,548,000 after purchasing an additional 256,156 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in Nutanix by 15.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,816,647 shares of the technology company’s stock worth $166,886,000 after buying an additional 374,328 shares in the last quarter. 85.25% of the stock is currently 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.