Nutanix (NASDAQ:NTNX) Hits New 52-Week High Following Analyst Upgrade

Nutanix, Inc. (NASDAQ:NTNX)’s stock price reached a new 52-week high on Thursday after Oppenheimer raised their price target on the stock from $90.00 to $100.00. Oppenheimer currently has an outperform rating on the stock. Nutanix traded as high as $79.90 and last traded at $77.00, with a volume of 1349075 shares changing hands. The stock had previously closed at $69.35.

A number of other brokerages have also weighed in on NTNX. Raymond James set a $83.00 price objective on Nutanix in a research report on Thursday. JPMorgan Chase & Co. lifted their price target on Nutanix from $83.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday. Wells Fargo & Company lifted their price objective on Nutanix from $75.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday. Needham & Company LLC boosted their price target on Nutanix from $90.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Barclays set a $94.00 price target on Nutanix and gave the stock an “overweight” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.64.

Insider Buying and Selling at Nutanix

In other Nutanix news, CEO Rajiv Ramaswami sold 63,901 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was 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 directly owns 649,034 shares in the company, valued at $42,738,888.90. This represents a 8.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Virginia Gambale sold 6,060 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $64.73, for a total value of $392,263.80. Following the completion of the sale, the director now owns 45,330 shares in the company, valued at approximately $2,934,210.90. The trade was a 11.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 177,917 shares of company stock valued at $12,114,781. Company insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Harbour Investments Inc. boosted its position in Nutanix by 2,612.5% during the 4th quarter. Harbour Investments Inc. now owns 434 shares of the technology company’s stock valued at $27,000 after acquiring an additional 418 shares in the last quarter. Colonial Trust Co SC bought a new stake in Nutanix during the 4th quarter valued at $28,000. Larson Financial Group LLC boosted its position in Nutanix by 122.7% during the 3rd quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock valued at $30,000 after acquiring an additional 281 shares in the last quarter. Allworth Financial LP boosted its position in Nutanix by 123.1% during the 4th quarter. Allworth Financial LP now owns 464 shares of the technology company’s stock valued at $31,000 after acquiring an additional 256 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its position in 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 acquiring an additional 321 shares in the last quarter. Institutional investors own 85.25% of the company’s stock.

Nutanix Trading Up 13.3 %

The stock has a market cap of $21.05 billion, a price-to-earnings ratio of -220.38, a PEG ratio of 11.80 and a beta of 1.17. The stock has a 50-day moving average price of $66.49 and a two-hundred day moving average price of $63.92.

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.