Oppenheimer Boosts Nutanix (NASDAQ:NTNX) Price Target to $100.00

Nutanix (NASDAQ:NTNX) had its price target upped by equities researchers at Oppenheimer from $90.00 to $100.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price target indicates a potential upside of 44.20% from the stock’s current price.

Several other analysts also recently issued reports on NTNX. UBS Group started coverage on Nutanix in a research note on Thursday, December 12th. They issued a “buy” rating and a $81.00 price target for the company. Raymond James set a $83.00 target price on shares of Nutanix in a research report on Thursday. Piper Sandler boosted their price target on Nutanix from $83.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday. Northland Securities raised Nutanix from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $77.00 to $97.00 in a research report on Thursday. Finally, Barclays set a $94.00 price objective on Nutanix and gave the company an “overweight” rating in a report on Thursday. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Nutanix currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.64.

Nutanix Price Performance

Shares of NTNX opened at $69.35 on Thursday. The company’s 50-day moving average is $66.49 and its 200-day moving average is $63.92. The firm has a market capitalization of $18.58 billion, a PE ratio of -198.14, a PEG ratio of 11.80 and a beta of 1.17. Nutanix has a fifty-two week low of $43.35 and a fifty-two week high of $75.80.

Insider Activity at Nutanix

In other Nutanix news, CEO Rajiv Ramaswami sold 63,901 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $65.85, for a total value of $4,207,880.85. Following the completion of the transaction, the chief executive officer now directly owns 649,034 shares in the company, valued at approximately $42,738,888.90. This trade represents a 8.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Rukmini Sivaraman sold 11,810 shares of the business’s 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 sale, the chief financial officer now owns 190,882 shares in the company, valued at approximately $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. In the last three months, insiders have sold 177,917 shares of company stock valued at $12,114,781. 6.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Nutanix

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Forum Financial Management LP bought a new stake in shares of Nutanix in the fourth quarter worth $230,000. Cache Advisors LLC bought a new position in Nutanix during the 4th quarter worth $2,172,000. Vise Technologies Inc. lifted its holdings in Nutanix by 10.2% during the 4th quarter. Vise Technologies Inc. now owns 6,487 shares of the technology company’s stock worth $397,000 after buying an additional 600 shares during the period. 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 valued at $80,422,000 after buying an additional 428,171 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC acquired a new stake in shares of Nutanix in the fourth quarter valued at about $24,106,000. 85.25% of the stock is currently 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.