Nutanix, Inc. (NASDAQ:NTNX) Receives $79.00 Consensus Target Price from Analysts

Shares of Nutanix, Inc. (NASDAQ:NTNX - Get Free Report) have been assigned an average rating of "Moderate Buy" from the seventeen brokerages that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $79.00.

NTNX has been the topic of several recent research reports. Wells Fargo & Company increased their target price on Nutanix from $60.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 27th. Piper Sandler raised their target price on Nutanix from $77.00 to $83.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 27th. Royal Bank of Canada lifted their target price on Nutanix from $70.00 to $75.00 and gave the company an "outperform" rating in a report on Thursday, August 29th. Oppenheimer began coverage on shares of Nutanix in a report on Wednesday, November 13th. They issued an "outperform" rating and a $80.00 price target on the stock. Finally, StockNews.com upgraded shares of Nutanix from a "buy" rating to a "strong-buy" rating in a research report on Thursday, November 28th.

Insider Activity

In other Nutanix news, CFO Rukmini Sivaraman sold 24,316 shares of the business's stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $58.85, for a total value of $1,430,996.60. Following the transaction, the chief financial officer now owns 192,169 shares in the company, valued at approximately $11,309,145.65. The trade was a 11.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO David Sangster sold 11,950 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $59.83, for a total transaction of $714,968.50. Following the sale, the chief operating officer now owns 123,868 shares of the company's stock, valued at approximately $7,411,022.44. This represents a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.80% of the company's stock.

Hedge Funds Weigh In On Nutanix

Several hedge funds have recently made changes to their positions in NTNX. ORG Wealth Partners LLC bought a new stake in Nutanix in the third quarter valued at $27,000. Larson Financial Group LLC lifted its position in shares of Nutanix by 122.7% in the 3rd 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. Itau Unibanco Holding S.A. purchased a new stake in shares of Nutanix in the 2nd quarter worth about $32,000. Advisors Asset Management Inc. boosted its stake in shares of Nutanix by 150.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company's stock valued at $32,000 after purchasing an additional 321 shares in the last quarter. Finally, Signaturefd LLC increased its position in shares of Nutanix by 57.8% during the third quarter. Signaturefd LLC now owns 956 shares of the technology company's stock valued at $57,000 after buying an additional 350 shares during the period. 85.25% of the stock is owned by hedge funds and other institutional investors.

Nutanix Price Performance

Shares of NTNX traded down $2.71 during trading hours on Friday, hitting $66.05. The company's stock had a trading volume of 2,422,555 shares, compared to its average volume of 2,619,142. The company has a market cap of $17.52 billion, a price-to-earnings ratio of -188.71, a PEG ratio of 10.14 and a beta of 1.13. The business has a 50 day simple moving average of $66.23 and a two-hundred day simple moving average of $59.14. Nutanix has a 52-week low of $43.35 and a 52-week high of $75.80.

Nutanix Company Profile

Nutanix, Inc provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. The company offers hyperconverged infrastructure software stack that converges virtualization, storage, and networking services into a turnkey solution; Acropolis Hypervisor, an enterprise-grade virtualization solution; flow virtual networking and flow network security, which offers services to visualize the network, automate common network operations, and build virtual private networks; Nutanix Kubernetes Engine for automated deployment and management of Kubernetes clusters to simplify the provisioning, operations, and lifecycle management of cloud-native environments, applications, and microservices; and Nutanix Cloud Clusters.