Nutanix (NASDAQ:NTNX) Reaches New 1-Year High on Analyst Upgrade

Shares of Nutanix, Inc. (NASDAQ:NTNX) hit a new 52-week high during mid-day trading on Thursday after Oppenheimer raised their price target on the stock from $90.00 to $100.00. Oppenheimer currently has an outperform rating on the stock. Nutanix traded as high as $79.90 and last traded at $77.00, with a volume of 1349075 shares traded. The stock had previously closed at $69.35.

A number of other equities analysts have also weighed in on NTNX. UBS Group initiated coverage on Nutanix in a research note on Thursday, December 12th. They set a “buy” rating and a $81.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on Nutanix from $83.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday. StockNews.com lowered Nutanix from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 21st. Piper Sandler lifted their price objective on Nutanix from $83.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Morgan Stanley lifted their price objective on Nutanix from $78.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $85.64.

Insider Buying and Selling

In other news, CFO Rukmini Sivaraman sold 11,810 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $66.63, for a total value of $786,900.30. Following the sale, the chief financial officer now directly owns 190,882 shares in the company, valued at approximately $12,718,467.66. This trade represents a 5.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Rajiv Ramaswami sold 63,901 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 649,034 shares in the company, valued at approximately $42,738,888.90. The trade was a 8.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 177,917 shares of company stock worth $12,114,781. Company insiders own 6.80% of the company’s stock.

Institutional Trading of Nutanix

Several hedge funds have recently modified their holdings of NTNX. Creative Planning raised its stake in Nutanix by 26.5% in the third quarter. Creative Planning now owns 13,862 shares of the technology company’s stock valued at $821,000 after buying an additional 2,907 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Nutanix by 101.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 41,958 shares of the technology company’s stock worth $2,486,000 after buying an additional 21,086 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Nutanix by 57.8% during the third quarter. Signaturefd LLC now owns 956 shares of the technology company’s stock worth $57,000 after buying an additional 350 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Nutanix by 5,859.5% in the 3rd quarter. International Assets Investment Management LLC now owns 81,884 shares of the technology company’s stock valued at $4,852,000 after purchasing an additional 80,510 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Nutanix by 310.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 20,928 shares of the technology company’s stock worth $1,240,000 after acquiring an additional 15,829 shares in the last quarter. 85.25% of the stock is currently owned by institutional investors and hedge funds.

Nutanix Trading Up 13.3 %

The company has a 50 day moving average price of $66.49 and a 200 day moving average price of $63.92. The firm has a market cap of $21.05 billion, a PE ratio of -220.38, a price-to-earnings-growth ratio of 11.80 and a beta of 1.17.

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.