Nutanix (NASDAQ:NTNX) Price Target Raised to $92.00 at Needham & Company LLC

Nutanix (NASDAQ:NTNX) had its price objective increased by Needham & Company LLC from $90.00 to $92.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

NTNX has been the subject of several other research reports. Raymond James set a $83.00 price target on shares of Nutanix in a research report on Thursday. Northland Securities raised Nutanix from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $77.00 to $97.00 in a research note on Thursday. Piper Sandler increased their price objective on Nutanix from $77.00 to $83.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Barclays set a $94.00 target price on shares of Nutanix and gave the company an “overweight” rating in a research note on Thursday. Finally, Oppenheimer began coverage on shares of Nutanix in a research report on Wednesday, November 13th. They set an “outperform” rating and a $80.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $87.79.

Nutanix Price Performance

Shares of Nutanix stock opened at $76.54 on Thursday. Nutanix has a 52-week low of $43.35 and a 52-week high of $79.90. The firm has a market capitalization 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. The company’s fifty day moving average price is $66.74 and its two-hundred day moving average price is $64.01.

Insider Buying and Selling at Nutanix

In other Nutanix news, Director Virginia Gambale sold 6,060 shares of the firm’s stock in a transaction dated 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 trade represents a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Rajiv Ramaswami sold 63,901 shares of the company’s stock in a transaction dated 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. This trade represents a 8.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 177,917 shares of company stock valued at $12,114,781. 6.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Nutanix by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 25,636,598 shares of the technology company’s stock valued at $1,568,447,000 after purchasing an additional 146,854 shares in the last quarter. Bain Capital Investors LLC acquired a new stake in Nutanix during the 3rd quarter worth $998,601,000. Champlain Investment Partners LLC lifted its holdings in Nutanix by 3.7% during the third quarter. Champlain Investment Partners LLC now owns 5,989,319 shares of the technology company’s stock worth $354,867,000 after acquiring an additional 215,363 shares in the last quarter. Renaissance Technologies LLC grew its stake in Nutanix by 6.5% in the fourth quarter. Renaissance Technologies LLC now owns 4,418,900 shares of the technology company’s stock valued at $270,348,000 after acquiring an additional 268,400 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Nutanix by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 4,311,000 shares of the technology company’s stock worth $263,275,000 after acquiring an additional 163,874 shares in the last quarter. 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.