Nutanix, Inc. (NASDAQ:NTNX) Receives $79.00 Consensus Price Target from Analysts

Shares of Nutanix, Inc. (NASDAQ:NTNX) have earned an average recommendation of “Moderate Buy” from the seventeen brokerages that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $79.47.

Several brokerages have issued reports on NTNX. Northland Securities reissued a “market perform” rating and set a $77.00 price objective (up from $74.00) on shares of Nutanix in a research report on Wednesday, November 27th. Oppenheimer began coverage on Nutanix in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $80.00 price target on the stock. Needham & Company LLC increased their price objective on Nutanix from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. StockNews.com upgraded Nutanix from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 28th. Finally, Morgan Stanley lifted their price objective on shares of Nutanix from $78.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday.

Insider Buying and Selling

In other Nutanix news, CFO Rukmini Sivaraman sold 11,810 shares of Nutanix stock in a transaction dated 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 transaction, the chief financial officer now owns 190,882 shares in the company, valued at approximately $12,718,467.66. The trade was a 5.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Rajiv Ramaswami sold 63,901 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $65.85, for a total transaction of $4,207,880.85. Following the completion of the sale, the chief executive officer now 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 disclosure for this sale can be found here. Insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Nutanix

A number of institutional investors have recently made changes to their positions in the stock. ORG Wealth Partners LLC acquired a new stake in Nutanix during the third quarter worth approximately $27,000. Larson Financial Group LLC boosted its holdings in shares of Nutanix by 122.7% during the third quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock worth $30,000 after purchasing an additional 281 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of Nutanix by 150.7% in the third quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock valued at $32,000 after purchasing an additional 321 shares during the period. Itau Unibanco Holding S.A. acquired a new position in Nutanix in the second quarter valued at $32,000. Finally, Signaturefd LLC lifted its position in Nutanix by 57.8% during the third quarter. Signaturefd LLC now owns 956 shares of the technology company’s stock worth $57,000 after buying an additional 350 shares during the period. 85.25% of the stock is owned by institutional investors and hedge funds.

Nutanix Trading Down 4.2 %

NTNX stock opened at $63.33 on Friday. The business has a 50 day simple moving average of $66.45 and a 200-day simple moving average of $59.13. The company has a market capitalization of $16.97 billion, a P/E ratio of -180.94, a PEG ratio of 10.34 and a beta of 1.13. Nutanix has a twelve month low of $43.35 and a twelve month high of $75.80.

Nutanix Company Profile

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.