Nutanix (NTNX) Price Target Raised to $40.00
Nutanix (NASDAQ:NTNX) had its price target increased by Oppenheimer to $40.00 in a research report issued to clients and investors on Friday. The brokerage currently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price target points to a potential upside of 21.95% from the company’s previous close.
Several other research firms also recently commented on NTNX. Piper Jaffray Companies reissued an “overweight” rating and set a $40.00 price objective on shares of Nutanix in a report on Friday. Maxim Group increased their price objective on shares of Nutanix from $39.00 to $51.00 and gave the company a “buy” rating in a report on Friday. Vetr downgraded shares of Nutanix from a “strong-buy” rating to a “buy” rating and set a $31.00 price objective for the company. in a report on Tuesday, October 24th. Needham & Company LLC increased their price objective on shares of Nutanix from $45.00 to $48.00 and gave the company a “buy” rating in a report on Friday. Finally, Jefferies Group assumed coverage on shares of Nutanix in a report on Thursday, August 17th. They set a “buy” rating and a $30.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $33.17.
Nutanix (NASDAQ NTNX) traded up $0.28 during trading hours on Friday, hitting $32.80. The stock had a trading volume of 5,605,400 shares, compared to its average volume of 3,062,181. Nutanix has a 52-week low of $14.38 and a 52-week high of $35.00.
In related news, President Sudheesh Nair Vadakkedath sold 50,000 shares of Nutanix stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $34.07, for a total transaction of $1,703,500.00. Following the transaction, the president now directly owns 228,330 shares of the company’s stock, valued at $7,779,203.10. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP David Sangster sold 27,000 shares of Nutanix stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $21.13, for a total transaction of $570,510.00. Following the transaction, the executive vice president now directly owns 103,500 shares in the company, valued at $2,186,955. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,818,869 shares of company stock worth $50,980,098. Corporate insiders own 19.81% of the company’s stock.
A number of hedge funds have recently modified their holdings of NTNX. Vanguard Group Inc. increased its holdings in Nutanix by 65.5% during the first quarter. Vanguard Group Inc. now owns 3,275,441 shares of the technology company’s stock valued at $61,480,000 after buying an additional 1,295,813 shares during the period. Geode Capital Management LLC grew its holdings in Nutanix by 12.2% in the first quarter. Geode Capital Management LLC now owns 129,489 shares of the technology company’s stock worth $2,430,000 after purchasing an additional 14,097 shares during the last quarter. Morgan Stanley grew its holdings in Nutanix by 1,096.4% in the first quarter. Morgan Stanley now owns 249,427 shares of the technology company’s stock worth $4,682,000 after purchasing an additional 228,579 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Nutanix by 54.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 40,683 shares of the technology company’s stock worth $764,000 after purchasing an additional 14,371 shares during the last quarter. Finally, Credit Suisse AG purchased a new position in Nutanix in the first quarter worth $418,000. 35.34% of the stock is currently owned by institutional investors.
WARNING: This story was originally published by American Banking News and is owned by of American Banking News. If you are accessing this story on another website, it was stolen and republished in violation of United States and international copyright and trademark laws. The correct version of this story can be viewed at https://www.americanbankingnews.com/2017/12/01/nutanix-ntnx-price-target-raised-to-40-00.html.
Nutanix Company Profile
Nutanix, Inc is a United States-based company, which provides an enterprise cloud platform that converges silos of server, virtualization and storage into an integrated solution. The Company’s enterprise cloud platform connects to public cloud services. It has operations in the United States; Europe, the Middle East and Africa; Asia-Pacific, and Other Americas.
Receive News & Ratings for Nutanix Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nutanix Inc. and related companies with MarketBeat.com's FREE daily email newsletter.