Nutanix (NASDAQ:NTNX) Stock Price Expected to Rise, Susquehanna Analyst Says

Nutanix (NASDAQ:NTNX) had its price objective lifted by investment analysts at Susquehanna from $90.00 to $95.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “positive” rating on the technology company’s stock. Susquehanna’s price target would suggest a potential upside of 26.23% from the company’s previous close.

Several other research firms have also recently issued reports on NTNX. Northland Capmk raised Nutanix from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 27th. Wall Street Zen cut Nutanix from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Northland Securities raised Nutanix from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $77.00 to $97.00 in a research note on Thursday, February 27th. Morgan Stanley reissued an “overweight” rating and issued a $90.00 price target (up previously from $75.00) on shares of Nutanix in a research note on Tuesday, May 20th. Finally, Raymond James cut Nutanix from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 20th. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $90.38.

Nutanix Stock Performance

NASDAQ:NTNX opened at $75.26 on Thursday. Nutanix has a 1 year low of $43.35 and a 1 year high of $83.36. The stock has a market cap of $20.07 billion, a price-to-earnings ratio of -215.03, a PEG ratio of 11.80 and a beta of 0.70. The business has a fifty day moving average of $70.30 and a 200-day moving average of $68.82.

Insider Activity

In other news, CEO Rajiv Ramaswami sold 7,740 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $75.00, for a total transaction of $580,500.00. Following the completion of the sale, the chief executive officer now directly owns 558,366 shares of the company’s stock, valued at $41,877,450. This represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Groen Max Pieter De sold 5,500,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $74.51, for a total value of $409,805,000.00. Following the sale, the director now directly owns 11,354,032 shares of the company’s stock, valued at approximately $845,988,924.32. This represents a 32.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,568,797 shares of company stock worth $415,209,003 over the last 90 days. 6.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Nutanix

Several hedge funds have recently modified their holdings of NTNX. Janney Montgomery Scott LLC lifted its holdings in shares of Nutanix by 5.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 36,206 shares of the technology company’s stock valued at $2,215,000 after purchasing an additional 1,723 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new stake in shares of Nutanix during the fourth quarter valued at $299,000. Blue Trust Inc. lifted its holdings in shares of Nutanix by 27.5% during the fourth quarter. Blue Trust Inc. now owns 2,600 shares of the technology company’s stock valued at $154,000 after purchasing an additional 561 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Nutanix by 1,555.9% during the fourth quarter. Pacer Advisors Inc. now owns 74,203 shares of the technology company’s stock valued at $4,540,000 after purchasing an additional 69,722 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of Nutanix by 24.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 146,261 shares of the technology company’s stock valued at $8,948,000 after purchasing an additional 29,074 shares during the last quarter. 85.25% of the stock is owned by hedge funds and other institutional investors.

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.