Nutanix (NASDAQ:NTNX) Price Target Lowered to $76.00 at Piper Sandler

Nutanix (NASDAQ:NTNX) had its target price dropped by equities researchers at Piper Sandler from $88.00 to $76.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Piper Sandler’s price target would suggest a potential upside of 24.33% from the company’s current price.

A number of other equities research analysts also recently weighed in on NTNX. Raymond James set a $83.00 target price on Nutanix in a research report on Thursday, February 27th. Oppenheimer upped their price target on shares of Nutanix from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. Northland Capmk raised shares of Nutanix from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 27th. StockNews.com lowered shares of Nutanix from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 21st. Finally, Barclays set a $94.00 price target on shares of Nutanix and gave the stock an “overweight” rating in a research report on Thursday, February 27th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Nutanix currently has a consensus rating of “Buy” and a consensus target price of $86.93.

Nutanix Price Performance

Shares of NASDAQ NTNX traded up $2.51 during midday trading on Tuesday, reaching $61.13. 489,836 shares of the company traded hands, compared to its average volume of 2,484,550. The stock has a 50-day moving average price of $70.44 and a 200 day moving average price of $66.70. The company has a market cap of $16.30 billion, a price-to-earnings ratio of -174.66, a PEG ratio of 11.80 and a beta of 0.84. Nutanix has a 52 week low of $43.35 and a 52 week high of $79.99.

Insider Activity

In other news, CEO Rajiv Ramaswami sold 95,852 shares of the company’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 value of $6,709,640.00. Following the sale, the chief executive officer now directly owns 540,463 shares in the company, valued at approximately $37,832,410. This represents a 15.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Steven J. Gomo sold 7,000 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $76.16, for a total value of $533,120.00. Following the completion of the transaction, the director now directly owns 3,050 shares of the company’s stock, valued at approximately $232,288. The trade was a 69.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,610,886 shares of company stock worth $417,646,356. 6.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC grew its holdings in Nutanix by 11,327.2% during the first quarter. GAMMA Investing LLC now owns 193,234 shares of the technology company’s stock valued at $13,490,000 after purchasing an additional 191,543 shares during the period. Versant Capital Management Inc boosted its position in shares of Nutanix by 972.7% during the first quarter. Versant Capital Management Inc now owns 7,820 shares of the technology company’s stock worth $546,000 after purchasing an additional 7,091 shares in the last quarter. Kera Capital Partners Inc. bought a new stake in Nutanix in the 1st quarter valued at $303,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Nutanix by 78.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 436 shares of the technology company’s stock worth $30,000 after buying an additional 191 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in Nutanix by 64.9% in the 4th quarter. California State Teachers Retirement System now owns 384,469 shares of the technology company’s stock valued at $23,522,000 after buying an additional 151,308 shares during the last quarter. 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.