Brokerages Set Nutanix, Inc. (NASDAQ:NTNX) Price Target at $87.79

Nutanix, Inc. (NASDAQ:NTNX) has been given a consensus rating of “Buy” by the fifteen brokerages that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, thirteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $87.79.

Several research firms have recently weighed in on NTNX. StockNews.com lowered shares of Nutanix from a “strong-buy” rating to a “buy” rating in a report on Friday, February 21st. Northland Securities raised Nutanix from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $77.00 to $97.00 in a report on Thursday, February 27th. JPMorgan Chase & Co. lifted their price objective on Nutanix from $83.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Morgan Stanley lifted their price target on Nutanix from $78.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Piper Sandler increased their price objective on shares of Nutanix from $83.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th.

Insiders Place Their Bets

In other Nutanix news, 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 value of $533,120.00. Following the sale, the director now owns 3,050 shares in the company, valued at approximately $232,288. The trade was a 69.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Rajiv Ramaswami sold 7,740 shares of Nutanix stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $75.00, for a total transaction of $580,500.00. Following the completion of the sale, the chief executive officer now owns 558,366 shares in the company, valued at $41,877,450. This trade represents a 1.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,610,886 shares of company stock worth $417,646,356. Corporate insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Nutanix

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Nutanix by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 25,636,598 shares of the technology company’s stock worth $1,568,447,000 after acquiring an additional 146,854 shares in the last quarter. Bain Capital Investors LLC acquired a new stake in Nutanix in the 3rd quarter valued at about $998,601,000. Renaissance Technologies LLC grew its holdings in Nutanix by 6.5% during the fourth quarter. Renaissance Technologies LLC now owns 4,418,900 shares of the technology company’s stock worth $270,348,000 after purchasing an additional 268,400 shares during the period. Geode Capital Management LLC increased its position in Nutanix by 4.0% during the fourth quarter. Geode Capital Management LLC now owns 4,311,000 shares of the technology company’s stock worth $263,275,000 after buying an additional 163,874 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Nutanix by 9.3% in the fourth quarter. First Trust Advisors LP now owns 3,498,768 shares of the technology company’s stock valued at $214,055,000 after buying an additional 297,754 shares during the last quarter. Institutional investors and hedge funds own 85.25% of the company’s stock.

Nutanix Trading Down 2.2 %

Shares of NTNX opened at $73.28 on Monday. The stock has a 50 day simple moving average of $70.15 and a 200-day simple moving average of $66.22. The stock has a market cap of $19.54 billion, a PE ratio of -209.37, a PEG ratio of 11.80 and a beta of 1.04. Nutanix has a 1 year low of $43.35 and a 1 year high of $79.99.

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.