Nutanix (NASDAQ:NTNX) Stock Price Expected to Rise, Piper Sandler Analyst Says

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

A number of other analysts have also recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Nutanix from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday. Oppenheimer initiated coverage on shares of Nutanix in a research note on Wednesday, November 13th. They set an “outperform” rating and a $80.00 price objective for the company. Barclays set a $94.00 target price on Nutanix and gave the company an “overweight” rating in a research report on Thursday. Northland Securities raised Nutanix from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $77.00 to $97.00 in a research report on Thursday. Finally, Morgan Stanley boosted their price target on Nutanix from $78.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $87.79.

Nutanix Stock Performance

Shares of NASDAQ NTNX opened at $76.54 on Thursday. Nutanix has a fifty-two week low of $43.35 and a fifty-two week high of $79.90. The company has a market cap of $20.51 billion, a PE ratio of -218.69, a P/E/G ratio of 11.80 and a beta of 1.17. The business has a 50-day simple moving average of $66.74 and a two-hundred day simple moving average of $64.01.

Insider Activity at Nutanix

In related news, CFO Rukmini Sivaraman sold 11,810 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $66.63, for a total transaction of $786,900.30. Following the sale, the chief financial officer now directly owns 190,882 shares of the company’s stock, valued at approximately $12,718,467.66. This represents a 5.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Rajiv Ramaswami sold 63,901 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $65.85, for a total transaction of $4,207,880.85. Following the sale, the chief executive officer now owns 649,034 shares in the company, valued at approximately $42,738,888.90. This represents a 8.96 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 177,917 shares of company stock worth $12,114,781. 6.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Nutanix

Several hedge funds have recently modified their holdings of NTNX. Creative Planning increased its stake in shares of Nutanix by 26.5% in the 3rd quarter. Creative Planning now owns 13,862 shares of the technology company’s stock valued at $821,000 after purchasing an additional 2,907 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Nutanix by 5,859.5% in the third quarter. International Assets Investment Management LLC now owns 81,884 shares of the technology company’s stock valued at $4,852,000 after purchasing an additional 80,510 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Nutanix by 310.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 20,928 shares of the technology company’s stock valued at $1,240,000 after buying an additional 15,829 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Nutanix by 125.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 13,728 shares of the technology company’s stock worth $813,000 after buying an additional 7,628 shares during the period. Finally, Pallas Capital Advisors LLC lifted its position in shares of Nutanix by 71.1% during the 3rd quarter. Pallas Capital Advisors LLC now owns 13,048 shares of the technology company’s stock valued at $809,000 after buying an additional 5,424 shares in the last quarter. 85.25% of the stock is 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.