Nutanix (NASDAQ:NTNX) Price Target Raised to $80.00 at JPMorgan Chase & Co.

Nutanix (NASDAQ:NTNX) had its price objective boosted by JPMorgan Chase & Co. from $70.00 to $80.00 in a research report released on Friday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the technology company’s stock.

A number of other research analysts have also issued reports on NTNX. Needham & Company LLC upped their target price on shares of Nutanix from $62.00 to $72.00 and gave the company a buy rating in a report on Thursday, February 29th. Bank of America increased their target price on Nutanix from $55.00 to $65.00 and gave the stock a buy rating in a research report on Thursday, February 29th. Royal Bank of Canada lifted their target price on Nutanix from $68.00 to $72.00 and gave the stock an outperform rating in a report on Thursday, February 29th. Barclays boosted their price target on Nutanix from $49.00 to $68.00 and gave the company an overweight rating in a research note on Thursday, February 29th. Finally, Susquehanna upped their price target on Nutanix from $60.00 to $75.00 and gave the stock a positive rating in a report on Wednesday, April 10th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $68.54.

Nutanix Stock Up 2.0 %

Shares of Nutanix stock traded up $1.40 on Friday, reaching $72.85. The stock had a trading volume of 1,462,121 shares, compared to its average volume of 1,888,053. The company has a 50 day moving average price of $64.38 and a 200 day moving average price of $55.65. Nutanix has a 1 year low of $26.47 and a 1 year high of $73.69.

Nutanix (NASDAQ:NTNX) last released its earnings results on Wednesday, February 28th. The technology company reported $0.17 earnings per share (EPS) for the quarter. The business had revenue of $565.23 million for the quarter, compared to analysts’ expectations of $551.82 million. On average, sell-side analysts predict that Nutanix will post -0.04 EPS for the current fiscal year.

Insider Transactions at Nutanix

In related news, insider Tyler Wall sold 15,000 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $62.25, for a total value of $933,750.00. Following the transaction, the insider now owns 13,168 shares in the company, valued at $819,708. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Steven J. Gomo sold 25,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $64.11, for a total transaction of $1,602,750.00. Following the transaction, the director now owns 3,962 shares of the company’s stock, valued at approximately $254,003.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tyler Wall sold 15,000 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $62.25, for a total value of $933,750.00. Following the sale, the insider now directly owns 13,168 shares in the company, valued at approximately $819,708. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 129,506 shares of company stock valued at $8,270,938. 0.46% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC purchased a new position in shares of Nutanix in the fourth quarter valued at about $29,000. GAMMA Investing LLC purchased a new position in Nutanix during the fourth quarter valued at approximately $30,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Nutanix in the fourth quarter worth approximately $37,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Nutanix in the 4th quarter valued at $40,000. Finally, Fidelis Capital Partners LLC acquired a new position in shares of Nutanix in the 1st quarter valued at $64,000. Hedge funds and other institutional investors own 85.25% of the company’s stock.

About Nutanix

Nutanix, Inc provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. The company offers hyperconverged infrastructure software stack that converges virtualization, storage, and networking services into a turnkey solution; Acropolis Hypervisor, an enterprise-grade virtualization solution; flow virtual networking and flow network security, which offers services to visualize the network, automate common network operations, and build virtual private networks; Nutanix Kubernetes Engine for automated deployment and management of Kubernetes clusters to simplify the provisioning, operations, and lifecycle management of cloud-native environments, applications, and microservices; and Nutanix Cloud Clusters.