Oppenheimer Forecasts Strong Price Appreciation for Nutanix (NASDAQ:NTNX) Stock

Nutanix (NASDAQ:NTNX) had its price target lifted by stock analysts at Oppenheimer from $90.00 to $100.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price target suggests a potential upside of 44.20% from the company’s current price.

Several other analysts have also weighed in on the stock. Piper Sandler raised their price objective on shares of Nutanix from $83.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday. StockNews.com cut Nutanix from a “strong-buy” rating to a “buy” rating in a report on Friday, February 21st. Morgan Stanley lifted their price objective on Nutanix from $78.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. UBS Group initiated coverage on Nutanix in a report on Thursday, December 12th. They set a “buy” rating and a $81.00 target price on the stock. Finally, Northland Securities raised Nutanix from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $77.00 to $97.00 in a report on Thursday. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $85.64.

Nutanix Stock Up 3.6 %

Shares of Nutanix stock opened at $69.35 on Thursday. Nutanix has a 12-month low of $43.35 and a 12-month high of $75.80. The stock has a market capitalization of $18.58 billion, a P/E ratio of -198.14, a price-to-earnings-growth ratio of 11.80 and a beta of 1.17. The company has a 50-day simple moving average of $66.49 and a 200 day simple moving average of $63.92.

Insiders Place Their Bets

In related news, CEO Rajiv Ramaswami sold 95,852 shares of the company’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 sale, the chief executive officer now owns 540,463 shares in the company, valued at approximately $37,832,410. This represents a 15.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Virginia Gambale sold 6,060 shares of the firm’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 transaction, the director now owns 45,330 shares of the company’s stock, valued at approximately $2,934,210.90. This represents a 11.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 177,917 shares of company stock valued at $12,114,781 in the last quarter. 6.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nutanix

A number of institutional investors have recently added to or reduced their stakes in NTNX. Harbour Investments Inc. grew its position in shares of Nutanix by 2,612.5% in the 4th quarter. Harbour Investments Inc. now owns 434 shares of the technology company’s stock valued at $27,000 after acquiring an additional 418 shares during the period. Colonial Trust Co SC bought a new stake in shares of Nutanix in the 4th quarter valued at about $28,000. Allworth Financial LP lifted its stake in Nutanix by 123.1% in the 4th quarter. Allworth Financial LP now owns 464 shares of the technology company’s stock valued at $31,000 after purchasing an additional 256 shares during the last quarter. Larson Financial Group LLC grew its holdings in Nutanix by 122.7% during the third quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock worth $30,000 after purchasing an additional 281 shares during the period. Finally, Advisors Asset Management Inc. grew its holdings in Nutanix by 150.7% during the third quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock worth $32,000 after purchasing an additional 321 shares during the period. 85.25% of the stock is currently owned by institutional investors and hedge funds.

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.