Nutanix (NASDAQ:NTNX) Trading Up 6.4% – What’s Next?

Nutanix, Inc. (NASDAQ:NTNX)’s stock price shot up 6.4% during trading on Tuesday . The company traded as high as $66.91 and last traded at $66.99. 871,922 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 1,821,402 shares. The stock had previously closed at $62.97.

Analysts Set New Price Targets

A number of analysts have issued reports on NTNX shares. Piper Sandler raised their price target on Nutanix from $77.00 to $83.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Raymond James decreased their target price on shares of Nutanix from $83.00 to $76.00 and set an “outperform” rating on the stock in a research report on Friday, January 17th. Morgan Stanley upped their price target on shares of Nutanix from $78.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Oppenheimer assumed coverage on shares of Nutanix in a report on Wednesday, November 13th. They issued an “outperform” rating and a $80.00 price target on the stock. Finally, Needham & Company LLC boosted their price objective on shares of Nutanix from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $78.87.

Nutanix Trading Up 8.5 %

The stock has a market cap of $18.31 billion, a PE ratio of -195.23, a P/E/G ratio of 10.88 and a beta of 1.16. The company’s 50 day moving average is $65.40 and its 200-day moving average is $60.79.

Insider Transactions at Nutanix

In other news, Director Virginia Gambale sold 6,060 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $64.73, for a total value of $392,263.80. Following the sale, the director now owns 45,330 shares in the company, valued at approximately $2,934,210.90. This represents a 11.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Rukmini Sivaraman sold 11,810 shares of Nutanix stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $66.63, for a total value of $786,900.30. Following the completion of the transaction, the chief financial officer now owns 190,882 shares of the company’s stock, valued at $12,718,467.66. This trade represents a 5.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 82,065 shares of company stock valued at $5,405,141. 6.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Bain Capital Investors LLC bought a new stake in shares of Nutanix in the 3rd quarter valued at approximately $998,601,000. Champlain Investment Partners LLC increased its stake in Nutanix by 3.7% during the third quarter. Champlain Investment Partners LLC now owns 5,989,319 shares of the technology company’s stock valued at $354,867,000 after purchasing an additional 215,363 shares during the last quarter. Geode Capital Management LLC increased its stake in Nutanix by 0.5% during the third quarter. Geode Capital Management LLC now owns 4,147,126 shares of the technology company’s stock valued at $245,968,000 after purchasing an additional 22,091 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Nutanix by 15.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,816,647 shares of the technology company’s stock worth $166,886,000 after purchasing an additional 374,328 shares during the period. Finally, Two Sigma Advisers LP lifted its position in shares of Nutanix by 32.8% in the 3rd quarter. Two Sigma Advisers LP now owns 2,814,002 shares of the technology company’s stock worth $166,730,000 after buying an additional 695,567 shares during the last quarter. Institutional investors own 85.25% of the company’s stock.

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.