Nutanix (NASDAQ:NTNX) Price Target Raised to $91.00

Nutanix (NASDAQ:NTNX) had its price objective hoisted by UBS Group from $81.00 to $91.00 in a report released on Thursday morning,Benzinga reports. UBS Group currently has a buy rating on the technology company’s stock.

Other research analysts have also recently issued reports about the stock. Raymond James set a $83.00 price objective on shares of Nutanix in a report on Thursday. Barclays set a $94.00 target price on shares of Nutanix and gave the stock an “overweight” rating in a report on Thursday. Piper Sandler raised their target price on shares of Nutanix from $83.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday. StockNews.com cut shares of Nutanix from a “strong-buy” rating to a “buy” rating in a report on Friday, February 21st. Finally, Morgan Stanley raised their target price on shares of Nutanix from $78.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Nutanix presently has an average rating of “Buy” and a consensus target price of $87.79.

Nutanix Price Performance

Nutanix stock opened at $76.89 on Thursday. The firm has a 50 day simple moving average of $66.98 and a 200-day simple moving average of $64.29. The stock has a market capitalization of $20.60 billion, a PE ratio of -219.69, a price-to-earnings-growth ratio of 11.80 and a beta of 1.17. Nutanix has a 12-month low of $43.35 and a 12-month high of $79.90.

Insiders Place Their Bets

In other Nutanix news, CEO Rajiv Ramaswami sold 95,852 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $70.00, for a total value of $6,709,640.00. Following the completion of the sale, the chief executive officer now owns 540,463 shares in the company, valued at $37,832,410. This represents a 15.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Virginia Gambale sold 6,060 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $64.73, for a total transaction of $392,263.80. Following the completion of the sale, the director now owns 45,330 shares of the company’s stock, valued at approximately $2,934,210.90. The trade was a 11.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 177,917 shares of company stock worth $12,114,781 in the last quarter. 6.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Harbour Investments Inc. raised its holdings in shares of Nutanix by 2,612.5% during the 4th quarter. Harbour Investments Inc. now owns 434 shares of the technology company’s stock valued at $27,000 after purchasing an additional 418 shares in the last quarter. Colonial Trust Co SC bought a new position in shares of Nutanix during the 4th quarter valued at $28,000. Allworth Financial LP raised its holdings in shares of 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 in the last quarter. Larson Financial Group LLC raised its holdings in shares of Nutanix by 122.7% during the 3rd quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock valued at $30,000 after purchasing an additional 281 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in shares of Nutanix by 150.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock valued at $32,000 after purchasing an additional 321 shares in the last quarter. Institutional investors own 85.25% of the company’s stock.

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.