Royal Bank of Canada Issues Positive Forecast for Nutanix (NASDAQ:NTNX) Stock Price

Nutanix (NASDAQ:NTNX) had its target price lifted by Royal Bank of Canada from $83.00 to $95.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the technology company’s stock.

A number of other research firms have also recently weighed in on NTNX. Northland Securities upgraded Nutanix from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $77.00 to $97.00 in a report on Thursday. Raymond James set a $83.00 target price on shares of Nutanix in a research note on Thursday. UBS Group started coverage on shares of Nutanix in a report on Thursday, December 12th. They set a “buy” rating and a $81.00 price target for the company. JPMorgan Chase & Co. boosted their price objective on shares of Nutanix from $83.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Needham & Company LLC raised their target price on Nutanix from $90.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $87.79.

Nutanix Stock Up 10.4 %

Shares of NTNX opened at $76.54 on Thursday. Nutanix has a fifty-two week low of $43.35 and a fifty-two week high of $79.90. The company’s fifty day moving average is $66.74 and its two-hundred day moving average is $64.01. The firm has a market cap of $20.51 billion, a PE ratio of -218.69, a price-to-earnings-growth ratio of 11.80 and a beta of 1.17.

Insiders Place Their Bets

In other news, Director Virginia Gambale sold 6,060 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $64.73, for a total value of $392,263.80. Following the transaction, the director now directly owns 45,330 shares in the company, valued at approximately $2,934,210.90. This trade represents a 11.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Rajiv Ramaswami sold 95,852 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $70.00, for a total transaction of $6,709,640.00. Following the sale, the chief executive officer now directly owns 540,463 shares of the company’s stock, valued at approximately $37,832,410. This represents a 15.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 177,917 shares of company stock valued at $12,114,781 over the last 90 days. 6.80% of the stock is owned by company insiders.

Institutional Trading of Nutanix

Several hedge funds have recently made changes to their positions in NTNX. Harbour Investments Inc. grew its stake in Nutanix by 2,612.5% during the 4th quarter. Harbour Investments Inc. now owns 434 shares of the technology company’s stock worth $27,000 after buying an additional 418 shares during the last quarter. Colonial Trust Co SC bought a new position in shares of Nutanix during the fourth quarter worth about $28,000. Allworth Financial LP grew its position in shares of Nutanix by 123.1% during the fourth quarter. Allworth Financial LP now owns 464 shares of the technology company’s stock worth $31,000 after acquiring an additional 256 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of Nutanix by 122.7% in the 3rd quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock worth $30,000 after acquiring an additional 281 shares during the period. Finally, Advisors Asset Management Inc. lifted its position in Nutanix by 150.7% in the 3rd 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 last quarter. Institutional investors own 85.25% of the company’s stock.

About Nutanix

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.