UBS Group Raises Nutanix (NASDAQ:NTNX) Price Target to $91.00

Nutanix (NASDAQ:NTNX) had its price objective boosted by investment analysts at UBS Group from $81.00 to $91.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. UBS Group’s price objective would suggest a potential upside of 17.31% from the stock’s previous close.

NTNX has been the subject of several other reports. Royal Bank of Canada upped their price target on Nutanix from $83.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday. Wells Fargo & Company raised their price target on shares of Nutanix from $75.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday. Needham & Company LLC increased their price objective on shares of Nutanix from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday. StockNews.com lowered shares of Nutanix from a “strong-buy” rating to a “buy” rating in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. increased their price target on Nutanix from $83.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $87.79.

Nutanix Stock Up 11.9 %

Shares of NTNX stock traded up $8.22 during trading hours on Thursday, hitting $77.57. 6,126,486 shares of the company were exchanged, compared to its average volume of 2,003,879. The firm has a market cap of $20.78 billion, a PE ratio of -221.63, a PEG ratio of 11.80 and a beta of 1.17. Nutanix has a 1 year low of $43.35 and a 1 year high of $79.90. The firm has a fifty day moving average of $66.49 and a 200 day moving average of $63.92.

Insider Buying and Selling at Nutanix

In related news, Director Virginia Gambale sold 6,060 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $64.73, for a total transaction 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. This represents a 11.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Rajiv Ramaswami sold 95,852 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $70.00, for a total transaction of $6,709,640.00. Following the completion of the transaction, the chief executive officer now directly owns 540,463 shares in the company, valued at $37,832,410. This represents a 15.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 177,917 shares of company stock worth $12,114,781 in the last ninety days. 6.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Nutanix

Large investors have recently added to or reduced their stakes in the stock. Bain Capital Investors LLC bought a new position in shares of Nutanix during the third quarter worth about $998,601,000. Norges Bank acquired a new position in Nutanix during the 4th quarter valued at about $195,758,000. Pictet Asset Management Holding SA grew its position in Nutanix by 6,785.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,139,340 shares of the technology company’s stock worth $130,885,000 after purchasing an additional 2,108,269 shares during the last quarter. Artisan Partners Limited Partnership acquired a new stake in shares of Nutanix in the fourth quarter valued at approximately $91,639,000. Finally, Contour Asset Management LLC bought a new stake in shares of Nutanix during the fourth quarter valued at approximately $87,318,000. 85.25% of the stock is owned by institutional investors and hedge funds.

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.