Wells Fargo & Company Issues Positive Forecast for Nutanix (NASDAQ:NTNX) Stock Price

Nutanix (NASDAQ:NTNX) had its price objective raised by equities researchers at Wells Fargo & Company from $75.00 to $85.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 22.57% from the stock’s previous close.

A number of other research analysts have also recently commented on NTNX. Piper Sandler upped their price target on Nutanix from $77.00 to $83.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. StockNews.com cut Nutanix from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 21st. UBS Group started coverage on Nutanix in a research report on Thursday, December 12th. They set a “buy” rating and a $81.00 price target on the stock. Morgan Stanley upped their price target on Nutanix from $78.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Oppenheimer initiated coverage on Nutanix in a report on Wednesday, November 13th. They set an “outperform” rating and a $80.00 price objective on the stock. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.86.

Nutanix Price Performance

Shares of NASDAQ NTNX opened at $69.35 on Thursday. Nutanix has a one year low of $43.35 and a one year high of $75.80. The business’s fifty day moving average price is $66.49 and its 200-day moving average price is $63.92. The stock has a market capitalization of $18.58 billion, a PE ratio of -198.14, a P/E/G ratio of 11.80 and a beta of 1.17.

Insider Buying and Selling at Nutanix

In other news, 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 in the company, valued at approximately $2,934,210.90. This represents a 11.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Rukmini Sivaraman sold 11,810 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $66.63, for a total value of $786,900.30. Following the transaction, the chief financial officer now owns 190,882 shares in the company, valued at $12,718,467.66. This trade represents a 5.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 177,917 shares of company stock valued at $12,114,781 in the last 90 days. Corporate insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Nutanix

Institutional investors have recently modified their holdings of the company. Versor Investments LP increased its position in shares of Nutanix by 211.7% during the 3rd quarter. Versor Investments LP now owns 33,352 shares of the technology company’s stock valued at $1,976,000 after purchasing an additional 22,652 shares during the last quarter. Atreides Management LP bought a new position in shares of Nutanix during the 3rd quarter valued at about $8,290,000. CIBC Asset Management Inc increased its position in shares of Nutanix by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 7,411 shares of the technology company’s stock valued at $453,000 after purchasing an additional 375 shares during the last quarter. Two Sigma Advisers LP increased its position in shares of Nutanix by 32.8% during the 3rd quarter. Two Sigma Advisers LP now owns 2,814,002 shares of the technology company’s stock valued at $166,730,000 after purchasing an additional 695,567 shares during the last quarter. Finally, Eagle Asset Management Inc. grew its position in Nutanix by 10.2% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,355,061 shares of the technology company’s stock worth $80,287,000 after acquiring an additional 125,657 shares during the last quarter. 85.25% of the stock is currently owned by institutional investors.

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.