Analysts Set Nutanix, Inc. (NASDAQ:NTNX) Price Target at $79.00

Shares of Nutanix, Inc. (NASDAQ:NTNX) have been given an average recommendation of “Moderate Buy” by the seventeen analysts that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $79.47.

NTNX has been the subject of a number of research reports. Wells Fargo & Company boosted their price target on Nutanix from $60.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. StockNews.com upgraded shares of Nutanix from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 28th. Needham & Company LLC boosted their price objective on shares of Nutanix from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Piper Sandler increased their price objective on shares of Nutanix from $77.00 to $83.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Finally, Raymond James lifted their target price on shares of Nutanix from $76.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, August 29th.

Insider Transactions at Nutanix

In other Nutanix news, CFO Rukmini Sivaraman sold 11,810 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $66.63, for a total transaction of $786,900.30. Following the transaction, the chief financial officer now directly owns 190,882 shares in the company, valued at $12,718,467.66. This represents a 5.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Rajiv Ramaswami sold 63,901 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $65.85, for a total transaction 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 $42,738,888.90. The trade was a 8.96 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Nutanix

A number of institutional investors have recently made changes to their positions in NTNX. ORG Wealth Partners LLC bought a new position in Nutanix during the third quarter worth $27,000. Larson Financial Group LLC lifted its position 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 buying an additional 281 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Nutanix in the 2nd quarter valued at about $32,000. Advisors Asset Management Inc. grew its position in shares of Nutanix by 150.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock valued at $32,000 after buying an additional 321 shares during the last quarter. Finally, Signaturefd LLC raised its stake in Nutanix by 57.8% during the third quarter. Signaturefd LLC now owns 956 shares of the technology company’s stock worth $57,000 after acquiring an additional 350 shares during the period. 85.25% of the stock is currently owned by institutional investors.

Nutanix Stock Down 4.2 %

Shares of NTNX opened at $63.33 on Friday. Nutanix has a fifty-two week low of $43.35 and a fifty-two week high of $75.80. The company’s fifty day moving average is $66.45 and its two-hundred day moving average is $59.13. The firm has a market cap of $16.97 billion, a PE ratio of -180.94, a price-to-earnings-growth ratio of 10.34 and a beta of 1.13.

About Nutanix

Nutanix, Inc provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. The company offers hyperconverged infrastructure software stack that converges virtualization, storage, and networking services into a turnkey solution; Acropolis Hypervisor, an enterprise-grade virtualization solution; flow virtual networking and flow network security, which offers services to visualize the network, automate common network operations, and build virtual private networks; Nutanix Kubernetes Engine for automated deployment and management of Kubernetes clusters to simplify the provisioning, operations, and lifecycle management of cloud-native environments, applications, and microservices; and Nutanix Cloud Clusters.