Nutanix (NASDAQ:NTNX) had its price target boosted by research analysts at JMP Securities from $45.00 to $60.00 in a research note issued to investors on Wednesday. The firm currently has an “outperform” rating on the technology company’s stock. JMP Securities’ target price would indicate a potential upside of 13.34% from the stock’s current price.
Several other equities research analysts have also recently weighed in on the company. Morgan Stanley upped their price target on Nutanix from $42.00 to $52.00 and gave the company an “equal weight” rating in a research report on Tuesday. KeyCorp restated a “buy” rating and issued a $61.00 price objective on shares of Nutanix in a research report on Tuesday. JPMorgan Chase & Co. upped their price objective on shares of Nutanix from $32.00 to $37.00 and gave the stock an “underweight” rating in a research report on Tuesday. Robert W. Baird restated an “outperform” rating on shares of Nutanix in a research report on Tuesday. Finally, Royal Bank of Canada upped their price objective on shares of Nutanix to $58.00 and gave the stock an “outperform” rating in a research report on Tuesday. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $46.52.
Shares of Nutanix (NASDAQ NTNX) traded down $0.10 on Wednesday, hitting $52.94. The stock had a trading volume of 3,409,280 shares, compared to its average volume of 4,194,432. Nutanix has a 12-month low of $14.38 and a 12-month high of $53.67. The company has a market capitalization of $8,258.63, a PE ratio of -24.62 and a beta of 2.13.
In other Nutanix news, CFO Duston Williams sold 300,000 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $35.36, for a total value of $10,608,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sunil Potti sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $35.70, for a total value of $535,500.00. Following the completion of the sale, the insider now directly owns 52,805 shares of the company’s stock, valued at approximately $1,885,138.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,808,918 shares of company stock valued at $104,706,913. 19.81% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Macquarie Group Ltd. boosted its stake in Nutanix by 418.5% in the fourth quarter. Macquarie Group Ltd. now owns 1,366,367 shares of the technology company’s stock worth $36,291,000 after buying an additional 1,102,841 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Nutanix during the third quarter valued at approximately $22,200,000. OZ Management LP purchased a new stake in shares of Nutanix during the third quarter valued at approximately $6,475,000. FMR LLC boosted its stake in shares of Nutanix by 37.7% during the fourth quarter. FMR LLC now owns 2,512,800 shares of the technology company’s stock valued at $66,740,000 after purchasing an additional 688,489 shares during the period. Finally, Scott & Selber Inc. purchased a new stake in shares of Nutanix during the third quarter valued at approximately $1,398,000. 44.29% of the stock is owned by institutional investors and hedge funds.
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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.
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