Nutanix (NASDAQ:NTNX) Given New $88.00 Price Target at Piper Sandler

Nutanix (NASDAQ:NTNX) had its price target upped by Piper Sandler from $83.00 to $88.00 in a report published on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

Other research analysts have also recently issued research reports about the stock. Barclays set a $94.00 price objective on shares of Nutanix and gave the company an “overweight” rating in a research report on Thursday. Raymond James set a $83.00 price target on shares of Nutanix in a report on Thursday. Morgan Stanley raised their price objective on shares of Nutanix from $78.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. StockNews.com cut Nutanix from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 21st. Finally, UBS Group started coverage on Nutanix in a research note on Thursday, December 12th. They set a “buy” rating and a $81.00 price target for the company. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Nutanix currently has an average rating of “Moderate Buy” and a consensus price target of $87.79.

Nutanix Stock Up 10.4 %

Nutanix stock opened at $76.54 on Thursday. The company’s 50-day moving average price is $66.74 and its 200-day moving average price is $64.01. The company has a market cap of $20.51 billion, a PE ratio of -218.69, a price-to-earnings-growth ratio of 11.80 and a beta of 1.17. Nutanix has a twelve month low of $43.35 and a twelve month high of $79.90.

Insider Activity at Nutanix

In related news, Director Virginia Gambale sold 6,060 shares of Nutanix stock in a transaction that occurred on Monday, December 23rd. The shares were 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 of the company’s stock, valued at $2,934,210.90. This trade represents a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Rajiv Ramaswami sold 95,852 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $37,832,410. This trade represents a 15.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 177,917 shares of company stock worth $12,114,781 over the last three months. 6.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NTNX. Azzad Asset Management Inc. ADV lifted its stake in shares of Nutanix by 0.5% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 34,887 shares of the technology company’s stock worth $2,134,000 after purchasing an additional 159 shares during the last quarter. Forum Financial Management LP bought a new position in Nutanix in the fourth quarter worth about $230,000. Cache Advisors LLC purchased a new stake in shares of Nutanix during the fourth quarter valued at about $2,172,000. Vise Technologies Inc. boosted its holdings in shares of Nutanix by 10.2% in the 4th quarter. Vise Technologies Inc. now owns 6,487 shares of the technology company’s stock valued at $397,000 after buying an additional 600 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Nutanix by 48.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,314,509 shares of the technology company’s stock worth $80,422,000 after buying an additional 428,171 shares during the last quarter. 85.25% of the stock is currently owned by hedge funds and other 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.