Nutanix, Inc. (NASDAQ:NTNX) Receives $87.85 Consensus Price Target from Brokerages

Shares of Nutanix, Inc. (NASDAQ:NTNX - Get Free Report) have been given an average recommendation of "Buy" by the fourteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $87.85.

A number of research firms recently commented on NTNX. Royal Bank of Canada increased their target price on Nutanix from $83.00 to $95.00 and gave the company an "outperform" rating in a research note on Thursday, February 27th. Needham & Company LLC raised their target price on shares of Nutanix from $90.00 to $92.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Wells Fargo & Company lifted their price target on shares of Nutanix from $75.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 27th. Northland Capmk upgraded shares of Nutanix from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 27th. Finally, Barclays set a $94.00 target price on shares of Nutanix and gave the stock an "overweight" rating in a report on Thursday, February 27th.

Nutanix Price Performance

Shares of NASDAQ NTNX traded down $1.17 during mid-day trading on Tuesday, reaching $80.66. 2,220,989 shares of the company's stock traded hands, compared to its average volume of 2,555,663. Nutanix has a 1-year low of $43.35 and a 1-year high of $83.14. The stock has a market cap of $21.51 billion, a P/E ratio of -230.46, a PEG ratio of 11.80 and a beta of 0.70. The business has a 50-day simple moving average of $68.07 and a 200 day simple moving average of $67.72.

Insider Activity at Nutanix

In related news, Director Steven J. Gomo sold 7,000 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $76.16, for a total value of $533,120.00. Following the sale, the director now directly owns 3,050 shares of the company's stock, valued at $232,288. This trade represents a 69.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Rajiv Ramaswami sold 61,057 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $79.00, for a total value of $4,823,503.00. Following the transaction, the chief executive officer now owns 497,309 shares of the company's stock, 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. In the last quarter, insiders have sold 5,575,797 shares of company stock valued at $415,742,123. 6.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NTNX. Larson Financial Group LLC increased its stake in Nutanix by 28.6% in 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 during the last quarter. True Wealth Design LLC lifted its stake in shares of Nutanix by 13.2% in the 4th quarter. True Wealth Design LLC now owns 1,249 shares of the technology company's stock valued at $76,000 after purchasing an additional 146 shares during the period. Azzad Asset Management Inc. ADV raised its stake in Nutanix by 0.5% during the fourth quarter. Azzad Asset Management Inc. ADV now owns 34,887 shares of the technology company's stock valued at $2,134,000 after buying an additional 159 shares during the last quarter. Concurrent Investment Advisors LLC raised its stake 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 worth $291,000 after purchasing an additional 177 shares during the last quarter. Finally, Avantax Advisory Services Inc. raised its stake in shares of Nutanix by 3.4% in 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. Hedge funds and other 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.