Analysts Set Nutanix, Inc. (NASDAQ:NTNX) Target Price at $87.85

Shares of Nutanix, Inc. (NASDAQ:NTNX) have been given an average recommendation of “Buy” by the fourteen brokerages that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $87.85.

Several analysts have recently commented on the company. StockNews.com cut Nutanix from a “strong-buy” rating to a “buy” rating in a report on Friday, February 21st. Northland Capmk raised Nutanix from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 27th. Oppenheimer raised their price target on Nutanix from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. Piper Sandler reduced their price objective on Nutanix from $88.00 to $76.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Finally, Needham & Company LLC lifted their price objective on Nutanix from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, February 27th.

Nutanix Price Performance

NTNX opened at $83.07 on Tuesday. The business has a 50 day simple moving average of $69.02 and a 200-day simple moving average of $68.17. The stock has a market capitalization of $22.15 billion, a P/E ratio of -237.34, a P/E/G ratio of 11.80 and a beta of 0.70. Nutanix has a 12 month low of $43.35 and a 12 month high of $83.36.

Insiders Place Their Bets

In other news, Director Groen Max Pieter De sold 5,500,000 shares of Nutanix stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $74.51, for a total value of $409,805,000.00. Following the completion of the sale, the director now owns 11,354,032 shares of the company’s stock, valued at $845,988,924.32. The trade was a 32.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Rajiv Ramaswami sold 61,057 shares of Nutanix stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $79.00, for a total value of $4,823,503.00. Following the completion of the sale, the chief executive officer now directly owns 497,309 shares of the company’s stock, valued at approximately $39,287,411. This represents a 10.93% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,575,797 shares of company stock valued at $415,742,123. Corporate insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Nutanix

Hedge funds and other institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. grew its position in shares of Nutanix by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,442,805 shares of the technology company’s stock valued at $88,271,000 after purchasing an additional 33,980 shares during the period. CIBC Asset Management Inc grew its position in shares of Nutanix by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 7,411 shares of the technology company’s stock valued at $453,000 after purchasing an additional 375 shares during the period. Pacer Advisors Inc. grew its position in shares of Nutanix by 1,555.9% in the fourth quarter. Pacer Advisors Inc. now owns 74,203 shares of the technology company’s stock valued at $4,540,000 after purchasing an additional 69,722 shares during the period. Flagship Harbor Advisors LLC purchased a new stake in shares of Nutanix in the fourth quarter valued at $299,000. Finally, Sanctuary Advisors LLC grew its position in shares of Nutanix by 3.5% in the fourth quarter. Sanctuary Advisors LLC now owns 9,698 shares of the technology company’s stock valued at $593,000 after purchasing an additional 325 shares during the period. 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.