Nutanix, Inc. (NASDAQ:NTNX) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Nutanix, Inc. (NASDAQ:NTNXGet Free Report) have been assigned an average recommendation of “Moderate Buy” from the fourteen brokerages that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $90.38.

A number of equities research analysts recently weighed in on NTNX shares. Morgan Stanley reaffirmed an “overweight” rating and set a $90.00 price objective (up previously from $75.00) on shares of Nutanix in a research report on Tuesday, May 20th. Oppenheimer raised their price target on Nutanix from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. JPMorgan Chase & Co. raised their price objective on Nutanix from $83.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Piper Sandler reaffirmed an “overweight” rating and set a $88.00 target price (up from $76.00) on shares of Nutanix in a report on Thursday, May 29th. Finally, Royal Bank of Canada increased their price objective on shares of Nutanix from $83.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, February 27th.

Check Out Our Latest Report on Nutanix

Insider Buying and Selling at Nutanix

In other news, Director Virginia Gambale sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $78.00, for a total value of $546,000.00. Following the sale, the director now directly owns 38,330 shares of the company’s stock, valued at approximately $2,989,740. The trade was a 15.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Rajiv Ramaswami sold 61,057 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $79.00, for a total transaction of $4,823,503.00. Following the completion of the sale, the chief executive officer now directly owns 497,309 shares in the company, valued at $39,287,411. This trade represents a 10.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,556,264 shares of company stock worth $426,904,673 in the last ninety days. 6.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Nutanix

Several institutional investors have recently modified their holdings of NTNX. Larson Financial Group LLC boosted its position in shares of Nutanix by 28.6% during the 4th quarter. Larson Financial Group LLC now owns 656 shares of the technology company’s stock worth $40,000 after acquiring an additional 146 shares in the last quarter. True Wealth Design LLC lifted its position in Nutanix by 13.2% during the 4th quarter. True Wealth Design LLC now owns 1,249 shares of the technology company’s stock worth $76,000 after acquiring an additional 146 shares during the period. Azzad Asset Management Inc. ADV grew its stake in shares of Nutanix by 0.5% in the 4th quarter. Azzad Asset Management Inc. ADV now owns 34,887 shares of the technology company’s stock valued at $2,134,000 after purchasing an additional 159 shares during the last quarter. Concurrent Investment Advisors LLC increased its holdings in shares of Nutanix by 4.4% in the first quarter. Concurrent Investment Advisors LLC now owns 4,163 shares of the technology company’s stock valued at $291,000 after purchasing an additional 177 shares during the period. Finally, Avantax Advisory Services Inc. raised its stake in shares of Nutanix by 3.4% during the fourth quarter. Avantax Advisory Services Inc. now owns 5,698 shares of the technology company’s stock worth $349,000 after purchasing an additional 188 shares during the last quarter. Institutional investors and hedge funds own 85.25% of the company’s stock.

Nutanix Trading Down 0.9%

Shares of NASDAQ:NTNX opened at $74.07 on Friday. The company has a market capitalization of $19.75 billion, a PE ratio of -211.63, a P/E/G ratio of 11.80 and a beta of 0.69. Nutanix has a 12-month low of $43.35 and a 12-month high of $83.36. The business’s fifty day simple moving average is $71.53 and its 200-day simple moving average is $69.16.

Nutanix Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for Nutanix (NASDAQ:NTNX)

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