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

Nutanix (NASDAQ:NTNX) had its price target hoisted by analysts at Piper Sandler from $83.00 to $88.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Piper Sandler’s target price suggests a potential upside of 26.89% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. UBS Group assumed coverage on shares of Nutanix in a report on Thursday, December 12th. They issued a “buy” rating and a $81.00 target price on the stock. Needham & Company LLC lifted their price objective on Nutanix from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday. 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. Barclays set a $94.00 price target on shares of Nutanix and gave the company an “overweight” rating in a research report on Thursday. Finally, Northland Securities raised shares of Nutanix from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $77.00 to $97.00 in a report on Thursday. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $85.64.

Nutanix Stock Performance

NASDAQ NTNX opened at $69.35 on Thursday. The company has a market capitalization of $18.58 billion, a price-to-earnings ratio of -198.14, a PEG ratio of 11.80 and a beta of 1.17. The stock has a 50-day moving average of $66.49 and a 200 day moving average of $63.92. Nutanix has a one year low of $43.35 and a one year high of $75.80.

Insider Buying and Selling at Nutanix

In other Nutanix news, CEO Rajiv Ramaswami sold 95,852 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $70.00, for a total transaction of $6,709,640.00. Following the completion of the sale, the chief executive officer now directly owns 540,463 shares of the company’s stock, valued at $37,832,410. This trade represents a 15.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Virginia Gambale sold 6,060 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $64.73, for a total transaction of $392,263.80. Following the completion of the transaction, the director now directly owns 45,330 shares in the company, valued at $2,934,210.90. This trade represents a 11.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 177,917 shares of company stock valued at $12,114,781 over the last ninety days. 6.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nutanix

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Nutanix by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 25,636,598 shares of the technology company’s stock worth $1,568,447,000 after purchasing an additional 146,854 shares in the last quarter. Bain Capital Investors LLC purchased a new stake in shares of Nutanix in the third quarter worth about $998,601,000. Champlain Investment Partners LLC boosted 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 buying an additional 215,363 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Nutanix by 6.5% during the 4th quarter. Renaissance Technologies LLC now owns 4,418,900 shares of the technology company’s stock valued at $270,348,000 after buying an additional 268,400 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Nutanix by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 4,311,000 shares of the technology company’s stock valued at $263,275,000 after buying an additional 163,874 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.