Nutanix (NASDAQ:NTNX) Price Target Raised to $88.00 at Piper Sandler

Nutanix (NASDAQ:NTNX) had its price objective increased by Piper Sandler from $83.00 to $88.00 in a research report sent to investors on Thursday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the technology company’s stock.

A number of other brokerages also recently issued reports on NTNX. JPMorgan Chase & Co. raised their target price on Nutanix from $83.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday. Morgan Stanley raised their target price on Nutanix from $78.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Northland Securities raised Nutanix from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $77.00 to $97.00 in a research note on Thursday. Barclays set a $94.00 price target on Nutanix and gave the stock an “overweight” rating in a report on Thursday. Finally, StockNews.com cut Nutanix from a “strong-buy” rating to a “buy” rating in a report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $87.79.

Nutanix Stock Up 0.5 %

Shares of NTNX opened at $76.89 on Thursday. Nutanix has a 52-week low of $43.35 and a 52-week high of $79.90. The company has a market capitalization of $20.60 billion, a PE ratio of -219.69, a price-to-earnings-growth ratio of 11.80 and a beta of 1.17. The stock has a fifty day simple moving average of $66.98 and a two-hundred day simple moving average of $64.29.

Insider Activity at Nutanix

In other news, 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 value of $392,263.80. Following the completion of the transaction, the director now owns 45,330 shares in the company, valued at approximately $2,934,210.90. This trade represents a 11.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Rajiv Ramaswami sold 95,852 shares of Nutanix stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $70.00, for a total value of $6,709,640.00. Following the completion of the transaction, the chief executive officer now owns 540,463 shares of the company’s stock, valued at $37,832,410. The trade was a 15.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 177,917 shares of company stock worth $12,114,781 in the last three months. 6.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Nutanix

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Larson Financial Group LLC boosted its stake in shares of Nutanix by 28.6% in the 4th quarter. Larson Financial Group LLC now owns 656 shares of the technology company’s stock valued at $40,000 after buying an additional 146 shares during the period. True Wealth Design LLC raised its position in shares of Nutanix by 13.2% during the 4th quarter. True Wealth Design LLC now owns 1,249 shares of the technology company’s stock worth $76,000 after acquiring an additional 146 shares in the last quarter. Freedom Investment Management Inc. raised its position in shares of Nutanix by 4.0% during the 3rd quarter. Freedom Investment Management Inc. now owns 3,883 shares of the technology company’s stock worth $230,000 after acquiring an additional 151 shares in the last quarter. Azzad Asset Management Inc. ADV raised its position in shares of Nutanix by 0.5% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 34,887 shares of the technology company’s stock worth $2,134,000 after acquiring an additional 159 shares in the last quarter. Finally, Avantax Advisory Services Inc. raised its position in shares of Nutanix by 3.4% during the 4th quarter. Avantax Advisory Services Inc. now owns 5,698 shares of the technology company’s stock worth $349,000 after acquiring an additional 188 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.