Brokerages Set Nutanix, Inc. (NASDAQ:NTNX) Target Price at $87.79

Nutanix, Inc. (NASDAQ:NTNX) has been given an average rating of “Buy” by the fifteen brokerages that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation, thirteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $87.79.

Several research firms recently weighed in on NTNX. StockNews.com lowered Nutanix from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 21st. Northland Securities upgraded Nutanix from a “market perform” rating to an “outperform” rating and upped their target price for the company from $77.00 to $97.00 in a report on Thursday, February 27th. UBS Group increased their price target on shares of Nutanix from $81.00 to $91.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Wells Fargo & Company boosted their price objective on shares of Nutanix from $75.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, February 27th. Finally, Morgan Stanley upped their price objective on shares of Nutanix from $78.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th.

Insider Buying and Selling at Nutanix

In other Nutanix news, Director Steven J. Gomo sold 7,000 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $76.16, for a total value of $533,120.00. Following the sale, the director now owns 3,050 shares of the company’s stock, valued at $232,288. The trade was a 69.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Groen Max Pieter De sold 5,500,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $74.51, for a total transaction of $409,805,000.00. Following the transaction, the director now directly owns 11,354,032 shares of the company’s stock, valued at $845,988,924.32. The trade was a 32.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,610,886 shares of company stock valued at $417,646,356 in the last ninety days. Company insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Larson Financial Group LLC grew 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 purchasing an additional 146 shares during the period. True Wealth Design LLC boosted its stake in Nutanix by 13.2% in the 4th quarter. True Wealth Design LLC now owns 1,249 shares of the technology company’s stock valued at $76,000 after buying an additional 146 shares in the last quarter. Freedom Investment Management Inc. grew its position in Nutanix by 4.0% in the third quarter. Freedom Investment Management Inc. now owns 3,883 shares of the technology company’s stock valued at $230,000 after acquiring an additional 151 shares during the period. Azzad Asset Management Inc. ADV raised its stake in Nutanix by 0.5% during the fourth 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. lifted its holdings in shares of Nutanix by 3.4% during the fourth quarter. Avantax Advisory Services Inc. now owns 5,698 shares of the technology company’s stock valued at $349,000 after acquiring an additional 188 shares during the period. Institutional investors and hedge funds own 85.25% of the company’s stock.

Nutanix Stock Down 1.3 %

Shares of NASDAQ:NTNX opened at $71.02 on Monday. The company’s fifty day moving average is $70.38 and its two-hundred day moving average is $66.34. The company has a market cap of $18.94 billion, a P/E ratio of -202.91, a price-to-earnings-growth ratio of 11.80 and a beta of 1.04. Nutanix has a 12-month low of $43.35 and a 12-month high of $79.99.

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.