Brokerages Set Nutanix, Inc. (NASDAQ:NTNX) PT at $79.47

Shares of Nutanix, Inc. (NASDAQ:NTNX) have been given a consensus recommendation of “Moderate Buy” by the seventeen research firms that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $79.47.

NTNX has been the topic of several research analyst reports. Needham & Company LLC increased their price objective on shares of Nutanix from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. StockNews.com upgraded shares of Nutanix from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 28th. Wells Fargo & Company raised their price objective on shares of Nutanix from $60.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Morgan Stanley upped their target price on Nutanix from $78.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Piper Sandler lifted their price target on Nutanix from $77.00 to $83.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th.

Insiders Place Their Bets

In related news, CEO Rajiv Ramaswami sold 63,901 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $65.85, for a total value of $4,207,880.85. Following the completion of the sale, the chief executive officer now directly owns 649,034 shares in the company, valued at $42,738,888.90. This represents a 8.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Virginia Gambale sold 6,060 shares of the firm’s 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 transaction, the director now directly owns 45,330 shares of the company’s stock, valued at approximately $2,934,210.90. This represents a 11.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 81,771 shares of company stock valued at $5,387,045. 6.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nutanix

A number of hedge funds have recently made changes to their positions in NTNX. Bain Capital Investors LLC acquired a new position in shares of Nutanix during the 3rd quarter valued at $998,601,000. Champlain Investment Partners LLC boosted its position in shares of Nutanix by 3.7% during the 3rd quarter. Champlain Investment Partners LLC now owns 5,989,319 shares of the technology company’s stock worth $354,867,000 after purchasing an additional 215,363 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Nutanix by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,147,126 shares of the technology company’s stock valued at $245,968,000 after buying an additional 22,091 shares during the period. Renaissance Technologies LLC increased its position in Nutanix by 7.4% in the 2nd quarter. Renaissance Technologies LLC now owns 3,738,756 shares of the technology company’s stock valued at $212,548,000 after buying an additional 256,156 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in Nutanix by 15.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,816,647 shares of the technology company’s stock worth $166,886,000 after acquiring an additional 374,328 shares in the last quarter. 85.25% of the stock is currently owned by institutional investors.

Nutanix Trading Down 0.3 %

Shares of NASDAQ NTNX opened at $62.23 on Wednesday. The company has a market capitalization of $16.67 billion, a P/E ratio of -177.80, a P/E/G ratio of 10.34 and a beta of 1.16. Nutanix has a 12 month low of $43.35 and a 12 month high of $75.80. The stock has a 50 day moving average of $66.33 and a 200-day moving average of $60.22.

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.