Nutanix (NASDAQ:NTNX) Price Target Raised to $95.00

Nutanix (NASDAQ:NTNX) had its target price raised by Royal Bank of Canada from $83.00 to $95.00 in a report released on Thursday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the technology company’s stock.

NTNX has been the topic of a number of other reports. Barclays set a $94.00 price target on shares of Nutanix and gave the company an “overweight” rating in a research report on Thursday. Piper Sandler raised their price target on shares of Nutanix from $83.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday. Raymond James set a $83.00 price target on shares of Nutanix in a research report on Thursday. Oppenheimer raised their price target on shares of Nutanix from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Needham & Company LLC raised their price target on shares of Nutanix from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday. One investment 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $87.79.

Nutanix Price Performance

Shares of NASDAQ NTNX opened at $76.89 on Thursday. The stock has a market capitalization of $20.60 billion, a P/E ratio of -219.69, a P/E/G ratio of 11.80 and a beta of 1.17. 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 1 year low of $43.35 and a 1 year high of $79.90.

Insiders Place Their Bets

In other news, CEO Rajiv Ramaswami sold 63,901 shares of Nutanix 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 transaction, the chief executive officer now owns 649,034 shares in the company, valued at $42,738,888.90. This trade represents a 8.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Virginia Gambale sold 6,060 shares of Nutanix 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 completion of the transaction, the director now owns 45,330 shares of the company’s stock, valued at $2,934,210.90. The trade was a 11.79 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 177,917 shares of company stock valued at $12,114,781. Company insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Nutanix

Hedge funds have recently bought and sold shares of the company. Harbour Investments Inc. grew its stake in Nutanix by 2,612.5% in the 4th quarter. Harbour Investments Inc. now owns 434 shares of the technology company’s stock worth $27,000 after buying an additional 418 shares in the last quarter. Colonial Trust Co SC bought a new stake in shares of Nutanix in the 4th quarter worth approximately $28,000. Allworth Financial LP lifted its holdings in shares of Nutanix by 123.1% in the 4th quarter. Allworth Financial LP now owns 464 shares of the technology company’s stock worth $31,000 after acquiring an additional 256 shares during the last quarter. Larson Financial Group LLC raised its holdings in Nutanix by 122.7% during the 3rd quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock valued at $30,000 after buying an additional 281 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in 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. Hedge funds and other 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.