Nutanix (NASDAQ:NTNX) Given New $45.00 Price Target at Northland Securities

Nutanix (NASDAQ:NTNX) had its target price hoisted by Northland Securities from $39.00 to $45.00 in a report released on Friday morning, MarketBeat Ratings reports. The firm currently has an outperform rating on the technology company’s stock.

NTNX has been the topic of several other reports. Royal Bank of Canada upped their target price on Nutanix from $33.00 to $38.00 in a research report on Thursday, May 25th. StockNews.com assumed coverage on Nutanix in a research note on Thursday, August 17th. They issued a buy rating for the company. Wells Fargo & Company upped their target price on Nutanix from $32.00 to $35.00 in a research report on Friday, May 26th. Piper Sandler raised their price target on shares of Nutanix from $35.00 to $40.00 and gave the stock an overweight rating in a research report on Friday. Finally, KeyCorp upped their price objective on shares of Nutanix from $35.00 to $45.00 and gave the company an overweight rating in a report on Friday. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $37.69.

Nutanix Stock Up 12.2 %

NTNX stock opened at $34.90 on Friday. The stock has a market capitalization of $8.23 billion, a PE ratio of -19.83 and a beta of 1.32. Nutanix has a 52 week low of $19.96 and a 52 week high of $36.50. The firm has a 50 day moving average of $29.46 and a 200 day moving average of $27.59.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Virginia Retirement Systems ET AL acquired a new stake in shares of Nutanix during the 2nd quarter valued at about $1,551,000. Coppell Advisory Solutions LLC purchased a new position in Nutanix during the second quarter worth approximately $50,000. Nuveen Asset Management LLC grew its holdings in Nutanix by 0.6% in the second quarter. Nuveen Asset Management LLC now owns 1,466,743 shares of the technology company’s stock valued at $41,142,000 after purchasing an additional 8,927 shares during the period. Alliancebernstein L.P. increased its position in shares of Nutanix by 21.1% in the second quarter. Alliancebernstein L.P. now owns 94,664 shares of the technology company’s stock valued at $2,655,000 after buying an additional 16,475 shares in the last quarter. Finally, Woodline Partners LP raised its stake in shares of Nutanix by 92.4% during the 2nd quarter. Woodline Partners LP now owns 1,363,692 shares of the technology company’s stock worth $38,252,000 after buying an additional 655,006 shares during the period. Institutional investors and hedge funds own 78.74% 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.