Nutanix (NASDAQ:NTNX) Given New $92.00 Price Target at Needham & Company LLC

Nutanix (NASDAQ:NTNX) had its price objective boosted by Needham & Company LLC from $90.00 to $92.00 in a research note published on Thursday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

NTNX has been the topic of several other research reports. Raymond James set a $83.00 target price on Nutanix in a research note on Thursday. Piper Sandler boosted their price objective on shares of Nutanix from $77.00 to $83.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Morgan Stanley increased their target price on shares of Nutanix from $78.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Northland Securities raised shares of Nutanix from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $77.00 to $97.00 in a research report on Thursday. Finally, Oppenheimer initiated coverage on Nutanix in a report on Wednesday, November 13th. They issued an “outperform” rating and a $80.00 price objective for the company. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $87.79.

Nutanix Trading Up 10.4 %

NTNX stock opened at $76.54 on Thursday. The stock has a market cap of $20.51 billion, a PE ratio of -218.69, a price-to-earnings-growth ratio of 11.80 and a beta of 1.17. The stock has a 50-day moving average price of $66.74 and a two-hundred day moving average price of $64.01. Nutanix has a 1 year low of $43.35 and a 1 year high of $79.90.

Insider Buying and Selling at Nutanix

In other Nutanix news, CEO Rajiv Ramaswami sold 63,901 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 649,034 shares in the company, valued at $42,738,888.90. This trade represents a 8.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Rukmini Sivaraman sold 11,810 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $66.63, for a total value of $786,900.30. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 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.

Institutional Investors Weigh In On Nutanix

Institutional investors have recently modified their holdings of the business. Harbour Investments Inc. raised its stake in Nutanix by 2,612.5% in the 4th quarter. Harbour Investments Inc. now owns 434 shares of the technology company’s stock worth $27,000 after purchasing an additional 418 shares in the last quarter. Colonial Trust Co SC bought a new position in shares of Nutanix during the fourth quarter worth approximately $28,000. Allworth Financial LP raised its position in shares of Nutanix by 123.1% in the fourth quarter. Allworth Financial LP now owns 464 shares of the technology company’s stock valued at $31,000 after buying an additional 256 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of Nutanix by 122.7% in the third quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock valued at $30,000 after buying an additional 281 shares during the period. Finally, Advisors Asset Management Inc. grew its position 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 buying an additional 321 shares in 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.