JPMorgan Chase & Co. Issues Positive Forecast for Nutanix (NASDAQ:NTNX) Stock Price

Nutanix (NASDAQ:NTNX) had its target price increased by JPMorgan Chase & Co. from $83.00 to $90.00 in a report issued on Thursday,Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

A number of other analysts have also recently weighed in on NTNX. StockNews.com cut Nutanix from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 21st. Barclays set a $94.00 price target on Nutanix and gave the stock an “overweight” rating in a report on Thursday. Northland Securities raised shares of Nutanix from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $77.00 to $97.00 in a research note on Thursday. Raymond James set a $83.00 target price on shares of Nutanix in a research note on Thursday. Finally, Needham & Company LLC boosted their price target on shares of Nutanix from $90.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Nutanix presently has a consensus rating of “Moderate Buy” and an average target price of $87.79.

Nutanix Stock Performance

NASDAQ NTNX opened at $76.54 on Thursday. Nutanix has a one year low of $43.35 and a one year high of $79.90. The firm has a market cap of $20.51 billion, a PE ratio of -218.69, a P/E/G ratio of 11.80 and a beta of 1.17. The firm’s fifty day moving average is $66.74 and its two-hundred day moving average is $64.01.

Insider Buying and Selling at Nutanix

In other Nutanix news, CFO Rukmini Sivaraman sold 11,810 shares of Nutanix stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $66.63, for a total transaction of $786,900.30. Following the completion of the transaction, the chief financial officer now owns 190,882 shares in the company, valued at approximately $12,718,467.66. The trade was a 5.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Rajiv Ramaswami sold 95,852 shares of the 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 completion of the sale, the chief executive officer now owns 540,463 shares in the company, valued at $37,832,410. This represents a 15.06 % decrease in their ownership of the stock. 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. Insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Nutanix

Institutional investors have recently made changes to their positions in the stock. Harbour Investments Inc. increased its position in Nutanix by 2,612.5% during the 4th quarter. Harbour Investments Inc. now owns 434 shares of the technology company’s stock worth $27,000 after purchasing an additional 418 shares in the last quarter. Colonial Trust Co SC acquired a new stake in shares of Nutanix during the 4th quarter worth about $28,000. Larson Financial Group LLC raised its position in shares of Nutanix by 122.7% in the third 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. Allworth Financial LP lifted its stake in shares of Nutanix by 123.1% during the fourth quarter. Allworth Financial LP now owns 464 shares of the technology company’s stock valued at $31,000 after buying an additional 256 shares during the period. Finally, Advisors Asset Management Inc. boosted its position in 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 acquiring an additional 321 shares during the last quarter. 85.25% of the stock is owned by institutional investors and hedge funds.

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.