UBS Group Raises Nutanix (NASDAQ:NTNX) Price Target to $91.00

Nutanix (NASDAQ:NTNX) had its price objective boosted by equities researchers at UBS Group from $81.00 to $91.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. UBS Group’s price objective would indicate a potential upside of 18.35% from the company’s previous close.

Several other research analysts have also weighed in on NTNX. Needham & Company LLC increased their target price on shares of Nutanix from $90.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday. Wells Fargo & Company increased their target price on shares of Nutanix from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday. Northland Securities raised shares of Nutanix from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $77.00 to $97.00 in a research note on Thursday. Piper Sandler raised their price objective on shares of Nutanix from $83.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Morgan Stanley raised their price objective on shares of Nutanix from $78.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Nutanix currently has an average rating of “Buy” and a consensus target price of $87.79.

Nutanix Price Performance

Shares of NTNX stock opened at $76.89 on Thursday. The firm has a market cap 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. The company has a 50-day moving average of $66.98 and a two-hundred day moving average of $64.20. Nutanix has a 1-year low of $43.35 and a 1-year high of $79.90.

Insider Buying and Selling

In related news, Director Virginia Gambale sold 6,060 shares of Nutanix stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $64.73, for a total value of $392,263.80. Following the completion of the transaction, the director now owns 45,330 shares in the company, valued at $2,934,210.90. The trade was a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Rajiv Ramaswami sold 63,901 shares of Nutanix stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $65.85, for a total transaction of $4,207,880.85. Following the completion of the transaction, the chief executive officer now owns 649,034 shares of the company’s stock, valued at $42,738,888.90. This represents a 8.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 177,917 shares of company stock worth $12,114,781 over the last 90 days. 6.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Versor Investments LP raised its holdings in Nutanix by 211.7% during the third quarter. Versor Investments LP now owns 33,352 shares of the technology company’s stock worth $1,976,000 after purchasing an additional 22,652 shares in the last quarter. Atreides Management LP acquired a new stake in Nutanix during the third quarter worth approximately $8,290,000. CIBC Asset Management Inc raised its holdings in Nutanix by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 7,411 shares of the technology company’s stock worth $453,000 after purchasing an additional 375 shares in the last quarter. Two Sigma Advisers LP raised its holdings in Nutanix by 32.8% during the third quarter. Two Sigma Advisers LP now owns 2,814,002 shares of the technology company’s stock worth $166,730,000 after purchasing an additional 695,567 shares in the last quarter. Finally, Eagle Asset Management Inc. raised its holdings in Nutanix by 10.2% during the third quarter. Eagle Asset Management Inc. now owns 1,355,061 shares of the technology company’s stock worth $80,287,000 after purchasing an additional 125,657 shares in the last quarter. Hedge funds and other institutional investors own 85.25% of the company’s stock.

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.