Nutanix, Inc. (NASDAQ:NTNX) Receives $87.79 Average PT from Brokerages

Nutanix, Inc. (NASDAQ:NTNX) has earned a consensus rating of “Buy” from the fifteen brokerages that are covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, thirteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $87.79.

NTNX has been the topic of several analyst reports. Royal Bank of Canada increased their target price on Nutanix from $83.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. StockNews.com lowered shares of Nutanix from a “strong-buy” rating to a “buy” rating in a report on Friday, February 21st. Piper Sandler upped their price target on shares of Nutanix from $83.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Barclays set a $94.00 price objective on shares of Nutanix and gave the company an “overweight” rating in a research note on Thursday, February 27th. Finally, Oppenheimer upped their target price on Nutanix from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th.

Nutanix Price Performance

Shares of NASDAQ:NTNX opened at $71.02 on Monday. The business’s 50 day simple moving average is $70.38 and its 200 day simple moving average is $66.42. Nutanix has a 1 year low of $43.35 and a 1 year high of $79.99. The company has a market capitalization of $18.94 billion, a P/E ratio of -202.91, a P/E/G ratio of 11.80 and a beta of 1.04.

Insider Activity at Nutanix

In related news, Director Groen Max Pieter De sold 5,500,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $74.51, for a total value of $409,805,000.00. Following the completion of the transaction, the director now owns 11,354,032 shares in the company, valued at $845,988,924.32. This trade represents a 32.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven J. Gomo sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $76.16, for a total transaction of $533,120.00. Following the sale, the director now directly owns 3,050 shares in the company, valued at $232,288. The trade was a 69.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,610,886 shares of company stock valued at $417,646,356 in the last 90 days. 6.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NTNX. Harbour Investments Inc. grew its position in shares of Nutanix by 2,612.5% in the 4th quarter. Harbour Investments Inc. now owns 434 shares of the technology company’s stock valued at $27,000 after buying an additional 418 shares during the last quarter. Colonial Trust Co SC acquired a new position in shares of Nutanix in the fourth quarter worth approximately $28,000. Larson Financial Group LLC boosted its holdings in 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 acquiring an additional 281 shares during the last quarter. Allworth Financial LP increased its position in Nutanix by 123.1% during the 4th quarter. Allworth Financial LP now owns 464 shares of the technology company’s stock valued at $31,000 after purchasing an additional 256 shares during the period. Finally, Advisors Asset Management Inc. raised its holdings in Nutanix by 150.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock worth $32,000 after purchasing an additional 321 shares during the last quarter. 85.25% of the stock is owned by institutional investors.

About Nutanix

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.