Morgan Stanley Increases Nutanix (NASDAQ:NTNX) Price Target to $85.00

Nutanix (NASDAQ:NTNX) had its price target boosted by Morgan Stanley from $78.00 to $85.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Several other analysts also recently weighed in on the company. Northland Securities reiterated a “market perform” rating and set a $77.00 price target (up previously from $74.00) on shares of Nutanix in a research note on Wednesday, November 27th. Oppenheimer started coverage on Nutanix in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $80.00 target price on the stock. Barclays raised their price target on shares of Nutanix from $75.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Royal Bank of Canada lifted their price objective on shares of Nutanix from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, Needham & Company LLC increased their price objective on shares of Nutanix from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $79.47.

Nutanix Trading Up 0.9 %

NASDAQ NTNX opened at $63.90 on Tuesday. Nutanix has a 12-month low of $43.35 and a 12-month high of $75.80. The company has a fifty day simple moving average of $66.43 and a two-hundred day simple moving average of $59.16. The stock has a market cap of $17.12 billion, a P/E ratio of -182.57, a P/E/G ratio of 10.34 and a beta of 1.13.

Insider Activity

In other Nutanix news, CEO Rajiv Ramaswami sold 63,901 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $65.85, for a total transaction of $4,207,880.85. Following the transaction, the chief executive officer now directly owns 649,034 shares of the company’s stock, valued at $42,738,888.90. This trade represents a 8.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Rukmini Sivaraman sold 11,810 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $66.63, for a total transaction of $786,900.30. Following the sale, the chief financial officer now directly owns 190,882 shares of the company’s stock, valued at $12,718,467.66. This represents a 5.83 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Nutanix

A number of hedge funds have recently made changes to their positions in NTNX. ORG Wealth Partners LLC acquired a new stake in shares of Nutanix in the third quarter worth approximately $27,000. Larson Financial Group LLC boosted its stake in Nutanix by 122.7% during the 3rd quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock worth $30,000 after purchasing an additional 281 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Nutanix by 150.7% during the third quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock worth $32,000 after buying an additional 321 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Nutanix during the second quarter worth $32,000. Finally, Signaturefd LLC raised its position in shares of Nutanix by 57.8% in the third quarter. Signaturefd LLC now owns 956 shares of the technology company’s stock valued at $57,000 after buying an additional 350 shares during the last quarter. Institutional investors and hedge funds own 85.25% of the company’s stock.

Nutanix Company Profile

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.