Nutanix (NASDAQ:NTNX) Price Target Increased to $75.00 by Analysts at Barclays

Nutanix (NASDAQ:NTNX) had its price target boosted by Barclays from $71.00 to $75.00 in a research note published on Thursday, Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

Several other research firms have also commented on NTNX. Bank of America boosted their price objective on Nutanix from $72.00 to $75.00 and gave the stock a buy rating in a research note on Thursday. Northland Capmk downgraded Nutanix from a strong-buy rating to a hold rating in a research note on Thursday, May 30th. KeyCorp lifted their target price on shares of Nutanix from $69.00 to $79.00 and gave the stock an overweight rating in a research note on Thursday, May 30th. Northland Securities cut shares of Nutanix from an outperform rating to a market perform rating and set a $71.00 target price for the company. in a research report on Thursday, May 30th. Finally, Morgan Stanley dropped their price objective on shares of Nutanix from $72.00 to $62.00 and set an equal weight rating for the company in a research note on Friday, June 21st. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $73.31.

Nutanix Stock Up 0.4 %

NTNX stock opened at $63.19 on Thursday. Nutanix has a 52 week low of $30.26 and a 52 week high of $73.69. The firm has a 50-day simple moving average of $52.87 and a 200-day simple moving average of $58.75. The stock has a market capitalization of $15.59 billion, a P/E ratio of -902.59, a P/E/G ratio of 5.75 and a beta of 1.16.

Insider Buying and Selling

In other Nutanix news, CEO Rajiv Ramaswami sold 23,986 shares of Nutanix stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $54.19, for a total value of $1,299,801.34. Following the sale, the chief executive officer now owns 407,045 shares in the company, valued at $22,057,768.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Rajiv Ramaswami sold 23,986 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $54.19, for a total transaction of $1,299,801.34. Following the completion of the sale, the chief executive officer now directly owns 407,045 shares of the company’s stock, valued at approximately $22,057,768.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Rukmini Sivaraman sold 12,566 shares of the stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $53.22, for a total transaction of $668,762.52. Following the transaction, the chief financial officer now directly owns 144,902 shares of the company’s stock, valued at approximately $7,711,684.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,936 shares of company stock worth $2,531,273. Company insiders own 0.46% of the company’s stock.

Institutional Trading of Nutanix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NTNX. Senator Investment Group LP acquired a new stake in shares of Nutanix in the second quarter valued at $4,858,000. Creative Planning boosted its holdings in Nutanix by 45.8% during the 2nd quarter. Creative Planning now owns 10,955 shares of the technology company’s stock valued at $623,000 after acquiring an additional 3,440 shares during the period. Algert Global LLC grew its position in Nutanix by 18.6% in the 2nd quarter. Algert Global LLC now owns 147,064 shares of the technology company’s stock valued at $8,361,000 after acquiring an additional 23,037 shares in the last quarter. Driehaus Capital Management LLC increased its stake in Nutanix by 123.9% during the second quarter. Driehaus Capital Management LLC now owns 1,435,230 shares of the technology company’s stock worth $81,593,000 after purchasing an additional 794,215 shares during the period. Finally, Mackenzie Financial Corp lifted its position in shares of Nutanix by 34.8% during the second quarter. Mackenzie Financial Corp now owns 647,899 shares of the technology company’s stock worth $36,833,000 after purchasing an additional 167,220 shares in the last quarter. Hedge funds and other institutional investors own 85.25% of the company’s stock.

About Nutanix

Nutanix, Inc provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. The company offers hyperconverged infrastructure software stack that converges virtualization, storage, and networking services into a turnkey solution; Acropolis Hypervisor, an enterprise-grade virtualization solution; flow virtual networking and flow network security, which offers services to visualize the network, automate common network operations, and build virtual private networks; Nutanix Kubernetes Engine for automated deployment and management of Kubernetes clusters to simplify the provisioning, operations, and lifecycle management of cloud-native environments, applications, and microservices; and Nutanix Cloud Clusters.