Oppenheimer Increases Nutanix (NASDAQ:NTNX) Price Target to $100.00

Nutanix (NASDAQ:NTNX) had its price objective hoisted by stock analysts at Oppenheimer from $90.00 to $100.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Oppenheimer’s target price would indicate a potential upside of 30.06% from the company’s previous close.

A number of other research firms have also recently weighed in on NTNX. Morgan Stanley upped their price objective on shares of Nutanix from $78.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. UBS Group began coverage on shares of Nutanix in a report on Thursday, December 12th. They set a “buy” rating and a $81.00 target price for the company. Piper Sandler upped their target price on shares of Nutanix from $83.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday. Barclays set a $94.00 target price on shares of Nutanix and gave the stock an “overweight” rating in a report on Thursday. Finally, Wells Fargo & Company upped their target price on shares of Nutanix from $75.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $87.79.

Nutanix Stock Performance

NASDAQ:NTNX opened at $76.89 on Thursday. The company has a fifty day moving average of $66.98 and a two-hundred day moving average of $64.20. The stock has a market capitalization of $20.60 billion, a PE ratio of -219.69, a P/E/G ratio of 11.80 and a beta of 1.17. Nutanix has a fifty-two week low of $43.35 and a fifty-two week high of $79.90.

Insiders Place Their Bets

In other Nutanix news, CEO Rajiv Ramaswami sold 63,901 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $65.85, for a total transaction of $4,207,880.85. Following the completion of the transaction, the chief executive officer now owns 649,034 shares of the company’s stock, valued at $42,738,888.90. This trade represents a 8.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Virginia Gambale sold 6,060 shares of the 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 directly owns 45,330 shares of the company’s stock, valued at approximately $2,934,210.90. This trade represents a 11.79 % 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 Inflows and Outflows

Several hedge funds have recently bought and sold shares of NTNX. Harbour Investments Inc. boosted its stake in Nutanix by 2,612.5% during the fourth 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 period. Colonial Trust Co SC acquired a new stake in shares of Nutanix during the fourth quarter worth about $28,000. Larson Financial Group LLC lifted its position in shares of Nutanix by 122.7% during the third quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock worth $30,000 after purchasing an additional 281 shares in the last quarter. Allworth Financial LP lifted 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 purchasing an additional 256 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its position in shares of Nutanix by 150.7% during the third quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock worth $32,000 after purchasing an additional 321 shares in the last quarter. Hedge funds and other 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.