Nutanix (NASDAQ:NTNX) Price Target Raised to $100.00

Nutanix (NASDAQ:NTNX) had its price objective boosted by Oppenheimer from $90.00 to $100.00 in a research note issued to investors on Thursday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the technology company’s stock.

Several other analysts have also recently issued reports on the company. Northland Securities raised Nutanix from a “market perform” rating to an “outperform” rating and increased their target price for the company from $77.00 to $97.00 in a research report on Thursday. Wells Fargo & Company raised their price objective on Nutanix from $75.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday. StockNews.com downgraded shares of Nutanix from a “strong-buy” rating to a “buy” rating in a report on Friday, February 21st. Barclays set a $94.00 price target on shares of Nutanix and gave the company an “overweight” rating in a research report on Thursday. Finally, Piper Sandler lifted their price objective on shares of Nutanix from $83.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Nutanix has a consensus rating of “Buy” and an average target price of $87.79.

Nutanix Stock Performance

Shares of NTNX opened at $76.89 on Thursday. The company has a 50 day moving average price of $66.98 and a 200-day moving average price of $64.29. Nutanix has a fifty-two week low of $43.35 and a fifty-two week high of $79.90. The stock has a market capitalization of $20.60 billion, a PE ratio of -219.69, a PEG ratio of 11.80 and a beta of 1.17.

Insiders Place Their Bets

In related news, Director Virginia Gambale sold 6,060 shares of the stock in a transaction that occurred on 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 owns 45,330 shares in the company, valued at approximately $2,934,210.90. This represents a 11.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Rajiv Ramaswami sold 95,852 shares of Nutanix stock in a transaction that occurred on 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 owns 540,463 shares of the company’s stock, valued at approximately $37,832,410. The trade was a 15.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 177,917 shares of company stock valued at $12,114,781. Insiders own 6.80% of the company’s stock.

Institutional Trading of Nutanix

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bain Capital Investors LLC acquired a new position in Nutanix during the third quarter valued at $998,601,000. Norges Bank purchased a new position in shares of Nutanix during the 4th quarter valued at about $195,758,000. Pictet Asset Management Holding SA lifted its holdings in shares of Nutanix by 6,785.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,139,340 shares of the technology company’s stock valued at $130,885,000 after buying an additional 2,108,269 shares during the period. Artisan Partners Limited Partnership purchased a new stake in shares of Nutanix in the fourth quarter worth about $91,639,000. Finally, Contour Asset Management LLC purchased a new stake in shares of Nutanix in the fourth quarter worth about $87,318,000. Institutional investors and hedge funds 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.