Nutanix, Inc. (NASDAQ:NTNX) Receives $79.47 Average Target Price from Analysts

Nutanix, Inc. (NASDAQ:NTNX) has been assigned a consensus rating of “Moderate Buy” from the seventeen brokerages that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $79.47.

A number of research analysts have recently weighed in on the company. Piper Sandler increased their price objective on Nutanix from $77.00 to $83.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Morgan Stanley increased their price objective on Nutanix from $78.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. UBS Group assumed coverage on Nutanix in a report on Thursday, December 12th. They issued a “buy” rating and a $81.00 price objective on the stock. Northland Securities reissued a “market perform” rating and issued a $77.00 price objective (up from $74.00) on shares of Nutanix in a report on Wednesday, November 27th. Finally, Oppenheimer began coverage on Nutanix in a report on Wednesday, November 13th. They issued an “outperform” rating and a $80.00 price objective on the stock.

Nutanix Stock Performance

Shares of NTNX stock opened at $63.05 on Wednesday. The stock’s 50-day simple moving average is $66.31 and its 200-day simple moving average is $60.40. The firm has a market capitalization of $16.89 billion, a PE ratio of -180.14, a P/E/G ratio of 10.34 and a beta of 1.16. Nutanix has a fifty-two week low of $43.35 and a fifty-two week high of $75.80.

Insiders Place Their Bets

In other Nutanix news, Director Virginia Gambale sold 6,060 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $64.73, for a total transaction of $392,263.80. Following the transaction, the director now owns 45,330 shares in the company, valued at approximately $2,934,210.90. This represents a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Rajiv Ramaswami sold 63,901 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $65.85, for a total value of $4,207,880.85. Following the transaction, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 81,771 shares of company stock worth $5,387,045. 6.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nutanix

A number of hedge funds have recently bought and sold shares of NTNX. Bain Capital Investors LLC purchased a new position in shares of Nutanix in the third quarter valued at approximately $998,601,000. Champlain Investment Partners LLC lifted its position in shares of Nutanix by 3.7% in the third quarter. Champlain Investment Partners LLC now owns 5,989,319 shares of the technology company’s stock valued at $354,867,000 after acquiring an additional 215,363 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Nutanix by 0.5% in the third quarter. Geode Capital Management LLC now owns 4,147,126 shares of the technology company’s stock valued at $245,968,000 after acquiring an additional 22,091 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Nutanix by 7.4% in the second quarter. Renaissance Technologies LLC now owns 3,738,756 shares of the technology company’s stock valued at $212,548,000 after acquiring an additional 256,156 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Nutanix by 15.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,816,647 shares of the technology company’s stock valued at $166,886,000 after acquiring an additional 374,328 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.