Brokerages Set Nutanix, Inc. (NASDAQ:NTNX) Target Price at $78.87

Nutanix, Inc. (NASDAQ:NTNX) has been assigned an average recommendation of “Moderate Buy” from the sixteen research firms that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $78.87.

A number of research analysts have recently weighed in on the stock. Morgan Stanley raised their price objective on shares of Nutanix from $78.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Piper Sandler raised their price objective on shares of Nutanix from $77.00 to $83.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. StockNews.com cut shares of Nutanix from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Wells Fargo & Company lifted their target price on shares of Nutanix from $60.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. Finally, Raymond James lowered their target price on shares of Nutanix from $83.00 to $76.00 and set an “outperform” rating for the company in a research note on Friday, January 17th.

Insider Buying and Selling at Nutanix

In related news, CEO Rajiv Ramaswami sold 63,901 shares of Nutanix stock in a transaction on Monday, December 16th. The shares were sold at an average price of $65.85, for a total transaction of $4,207,880.85. Following the transaction, the chief executive officer now owns 649,034 shares in the company, valued at approximately $42,738,888.90. The trade was a 8.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Rukmini Sivaraman sold 11,810 shares of Nutanix stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $66.63, for a total transaction of $786,900.30. Following the transaction, the chief financial officer now owns 190,882 shares in the company, valued at $12,718,467.66. The trade was a 5.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 82,065 shares of company stock worth $5,405,141 in the last quarter. 6.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Nutanix

Hedge funds and other institutional investors have recently made changes to their positions in the business. Versor Investments LP increased its stake in Nutanix by 211.7% during the 3rd quarter. Versor Investments LP now owns 33,352 shares of the technology company’s stock worth $1,976,000 after buying an additional 22,652 shares during the period. Atreides Management LP purchased a new stake in Nutanix during the 3rd quarter worth $8,290,000. Two Sigma Advisers LP increased its stake in Nutanix by 32.8% during the 3rd quarter. Two Sigma Advisers LP now owns 2,814,002 shares of the technology company’s stock worth $166,730,000 after buying an additional 695,567 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Nutanix by 101.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 41,958 shares of the technology company’s stock worth $2,486,000 after buying an additional 21,086 shares during the period. Finally, Eagle Asset Management Inc. increased its stake in Nutanix by 10.2% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,355,061 shares of the technology company’s stock worth $80,287,000 after buying an additional 125,657 shares during the period. Institutional investors and hedge funds own 85.25% of the company’s stock.

Nutanix Price Performance

Shares of NTNX opened at $70.94 on Friday. The firm has a 50 day simple moving average of $65.14 and a 200-day simple moving average of $61.42. Nutanix has a 1-year low of $43.35 and a 1-year high of $75.80. The stock has a market cap of $19.01 billion, a price-to-earnings ratio of -202.69, a price-to-earnings-growth ratio of 11.26 and a beta of 1.17.

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.