Nutanix (NASDAQ:NTNX) Price Target Raised to $91.00 at UBS Group

Nutanix (NASDAQ:NTNX) had its price target boosted by UBS Group from $81.00 to $91.00 in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

NTNX has been the topic of several other reports. Raymond James set a $83.00 target price on Nutanix in a research report on Thursday. Royal Bank of Canada increased their price objective on Nutanix from $83.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday. Wells Fargo & Company lifted their target price on shares of Nutanix from $75.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday. Needham & Company LLC increased their price target on shares of 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 shares of Nutanix and gave the company an “overweight” rating in a report on Thursday. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Nutanix presently has an average rating of “Moderate Buy” and a consensus price target of $87.79.

Nutanix Stock Up 10.4 %

Nutanix stock opened at $76.54 on Thursday. Nutanix has a 12 month low of $43.35 and a 12 month high of $79.90. The company’s fifty day simple moving average is $66.74 and its 200-day simple moving average is $64.01. The stock has a market cap of $20.51 billion, a P/E ratio of -218.69, a P/E/G ratio of 11.80 and a beta of 1.17.

Insider Buying and Selling

In related news, CFO Rukmini Sivaraman sold 11,810 shares of the business’s 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 transaction, the chief financial officer now owns 190,882 shares of the company’s stock, valued at approximately $12,718,467.66. The trade was a 5.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Virginia Gambale sold 6,060 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $64.73, for a total transaction of $392,263.80. Following the completion of the sale, the director now directly owns 45,330 shares of the company’s stock, valued at approximately $2,934,210.90. This trade represents a 11.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 177,917 shares of company stock valued at $12,114,781. Insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NTNX. Vanguard Group Inc. lifted its stake in shares of Nutanix by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 25,636,598 shares of the technology company’s stock valued at $1,568,447,000 after buying an additional 146,854 shares during the period. Bain Capital Investors LLC acquired a new position in Nutanix in the 3rd quarter valued at approximately $998,601,000. Champlain Investment Partners LLC lifted its position in shares of Nutanix by 3.7% in the 3rd quarter. Champlain Investment Partners LLC now owns 5,989,319 shares of the technology company’s stock worth $354,867,000 after acquiring an additional 215,363 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Nutanix by 6.5% during the 4th quarter. Renaissance Technologies LLC now owns 4,418,900 shares of the technology company’s stock worth $270,348,000 after purchasing an additional 268,400 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Nutanix by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 4,311,000 shares of the technology company’s stock worth $263,275,000 after purchasing an additional 163,874 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.