Nutanix, Inc. (NASDAQ:NTNX) Receives $79.50 Consensus PT from Brokerages

Shares of Nutanix, Inc. (NASDAQ:NTNX) have received an average rating of “Buy” from the fifteen brokerages that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $87.79.

NTNX has been the topic of several recent research reports. Royal Bank of Canada raised their price target on shares of Nutanix from $83.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. Morgan Stanley lifted 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. Northland Securities raised Nutanix from a “market perform” rating to an “outperform” rating and increased their price target for the company from $77.00 to $97.00 in a research report on Thursday, February 27th. StockNews.com downgraded shares of Nutanix from a “strong-buy” rating to a “buy” rating in a report on Friday, February 21st. Finally, Needham & Company LLC increased their target price on shares of Nutanix from $90.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, February 27th.

Nutanix Trading Up 0.0 %

Shares of NTNX stock opened at $77.10 on Thursday. The firm has a fifty day simple moving average of $67.74 and a two-hundred day simple moving average of $64.82. Nutanix has a 12 month low of $43.35 and a 12 month high of $79.99. The firm has a market capitalization of $20.66 billion, a PE ratio of -220.29, a price-to-earnings-growth ratio of 11.80 and a beta of 1.17.

Insider Buying and Selling at Nutanix

In other news, Director Groen Max Pieter De sold 5,500,000 shares of Nutanix stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $74.51, for a total value of $409,805,000.00. Following the completion of the transaction, the director now owns 11,354,032 shares in the company, valued at $845,988,924.32. This trade represents a 32.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Rukmini Sivaraman sold 11,810 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $66.63, for a total transaction of $786,900.30. Following the completion of the sale, the chief financial officer now directly owns 190,882 shares in the company, valued at approximately $12,718,467.66. This trade represents a 5.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,684,917 shares of company stock worth $422,452,901 over the last ninety days. 6.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Versor Investments LP grew its position in shares of Nutanix by 211.7% in the third quarter. Versor Investments LP now owns 33,352 shares of the technology company’s stock valued at $1,976,000 after purchasing an additional 22,652 shares in the last quarter. Atreides Management LP purchased a new position in Nutanix during the 3rd quarter valued at about $8,290,000. CIBC Asset Management Inc increased its position in shares of Nutanix by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 7,411 shares of the technology company’s stock valued at $453,000 after buying an additional 375 shares during the period. Two Sigma Advisers LP lifted its holdings in shares of Nutanix by 32.8% in the third quarter. Two Sigma Advisers LP now owns 2,814,002 shares of the technology company’s stock worth $166,730,000 after buying an additional 695,567 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Nutanix by 101.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 41,958 shares of the technology company’s stock valued at $2,486,000 after acquiring an additional 21,086 shares in the last quarter. 85.25% of the stock is currently owned by hedge funds and other institutional investors.

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.