JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Nutanix (NASDAQ:NTNX) Stock

Nutanix (NASDAQ:NTNX) had its price objective increased by research analysts at JPMorgan Chase & Co. from $83.00 to $90.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 29.78% from the stock’s current price.

A number of other equities research analysts have also commented on NTNX. Raymond James set a $83.00 price objective on shares of Nutanix in a report on Thursday. Morgan Stanley increased their price target on shares of Nutanix from $78.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Barclays set a $94.00 price objective on shares of Nutanix and gave the stock an “overweight” rating in a research report on Thursday. UBS Group began coverage on Nutanix in a research report on Thursday, December 12th. They issued a “buy” rating and a $81.00 price objective on the stock. Finally, Wells Fargo & Company lifted their target price on Nutanix from $75.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $83.86.

Nutanix Stock Performance

Nutanix stock opened at $69.35 on Thursday. Nutanix has a 52 week low of $43.35 and a 52 week high of $75.80. The firm has a market cap of $18.58 billion, a P/E ratio of -198.14, a P/E/G ratio of 11.80 and a beta of 1.17. The business’s fifty day moving average is $66.49 and its two-hundred day moving average is $63.92.

Insider Activity at Nutanix

In other Nutanix news, CFO Rukmini Sivaraman sold 11,810 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $66.63, for a total transaction of $786,900.30. Following the transaction, the chief financial officer now owns 190,882 shares of the company’s stock, valued at $12,718,467.66. The trade was a 5.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Rajiv Ramaswami sold 63,901 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $65.85, for a total value of $4,207,880.85. Following the completion of the sale, the chief executive officer now directly owns 649,034 shares of the company’s stock, valued at approximately $42,738,888.90. The trade was a 8.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 177,917 shares of company stock worth $12,114,781. 6.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Nutanix

A number of large investors have recently added to or reduced their stakes in NTNX. Larson Financial Group LLC grew its stake in Nutanix by 28.6% in the 4th quarter. Larson Financial Group LLC now owns 656 shares of the technology company’s stock valued at $40,000 after buying an additional 146 shares during the last quarter. True Wealth Design LLC increased its stake in shares of Nutanix by 13.2% in the 4th quarter. True Wealth Design LLC now owns 1,249 shares of the technology company’s stock valued at $76,000 after purchasing an additional 146 shares during the last quarter. Freedom Investment Management Inc. raised its holdings in shares of Nutanix by 4.0% during the 3rd quarter. Freedom Investment Management Inc. now owns 3,883 shares of the technology company’s stock worth $230,000 after buying an additional 151 shares in the last quarter. Avantax Advisory Services Inc. boosted its stake in Nutanix by 3.4% in the fourth quarter. Avantax Advisory Services Inc. now owns 5,698 shares of the technology company’s stock valued at $349,000 after buying an additional 188 shares in the last quarter. Finally, Coldstream Capital Management Inc. grew its position in Nutanix by 5.8% in the fourth quarter. Coldstream Capital Management Inc. now owns 3,588 shares of the technology company’s stock valued at $220,000 after acquiring an additional 196 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.