Nutanix (NASDAQ:NTNX) Stock Price Expected to Rise, UBS Group Analyst Says

Nutanix (NASDAQ:NTNX) had its target price boosted by UBS Group from $81.00 to $91.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Several other analysts have also recently weighed in on the stock. StockNews.com cut shares of Nutanix from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 21st. Barclays set a $94.00 price target on Nutanix and gave the company an “overweight” rating in a research note on Thursday. Wells Fargo & Company upped their target price on shares of Nutanix from $75.00 to $85.00 and gave the company an “equal weight” rating in a research note 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 report on Thursday. Finally, Oppenheimer raised their price target on shares of Nutanix from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $87.79.

Nutanix Trading Up 10.4 %

NASDAQ NTNX opened at $76.54 on Thursday. Nutanix has a 1-year low of $43.35 and a 1-year high of $79.90. The stock’s 50 day moving average is $66.74 and its two-hundred day moving average is $64.01. The company has a market capitalization of $20.51 billion, a price-to-earnings ratio of -218.69, a PEG ratio of 11.80 and a beta of 1.17.

Insider Activity at Nutanix

In related news, CEO Rajiv Ramaswami sold 95,852 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 540,463 shares of the company’s stock, valued at approximately $37,832,410. This trade represents a 15.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Virginia Gambale sold 6,060 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $64.73, for a total value of $392,263.80. Following the completion of the sale, the director now owns 45,330 shares of the company’s stock, valued at $2,934,210.90. The trade was a 11.79 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 177,917 shares of company stock worth $12,114,781. 6.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Harbour Investments Inc. lifted its position in Nutanix by 2,612.5% during the fourth quarter. Harbour Investments Inc. now owns 434 shares of the technology company’s stock valued at $27,000 after purchasing an additional 418 shares during the period. Colonial Trust Co SC bought a new stake in Nutanix during the fourth quarter valued at about $28,000. Allworth Financial LP lifted its holdings in Nutanix by 123.1% in the 4th quarter. Allworth Financial LP now owns 464 shares of the technology company’s stock worth $31,000 after purchasing an additional 256 shares in the last quarter. Larson Financial Group LLC lifted 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 worth $30,000 after buying an additional 281 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its position in shares of Nutanix by 150.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock valued at $32,000 after acquiring an additional 321 shares during the last quarter. 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.