Nutanix (NASDAQ:NTNX) Given New $62.00 Price Target at Morgan Stanley

Nutanix (NASDAQ:NTNX) had its target price trimmed by Morgan Stanley from $72.00 to $62.00 in a research report released on Friday, Benzinga reports. The brokerage currently has an equal weight rating on the technology company’s stock.

A number of other research analysts have also recently issued reports on the stock. Raymond James increased their target price on shares of Nutanix from $72.00 to $76.00 and gave the company an outperform rating in a report on Thursday, May 30th. Barclays reduced their price objective on Nutanix from $81.00 to $80.00 and set an overweight rating for the company in a report on Thursday, May 30th. Northland Securities lowered Nutanix from an outperform rating to a market perform rating and set a $71.00 target price on the stock. in a report on Thursday, May 30th. Susquehanna lifted their price target on Nutanix from $60.00 to $75.00 and gave the stock a positive rating in a research note on Wednesday, April 10th. Finally, Needham & Company LLC boosted their price objective on shares of Nutanix from $72.00 to $80.00 and gave the stock a buy rating in a research report on Thursday, May 30th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Nutanix currently has a consensus rating of Moderate Buy and a consensus price target of $72.00.

Nutanix Stock Performance

Shares of NASDAQ NTNX opened at $53.40 on Friday. The company’s fifty day moving average is $61.59 and its two-hundred day moving average is $57.90. The firm has a market capitalization of $13.17 billion, a P/E ratio of -762.86, a PEG ratio of 14.35 and a beta of 1.10. Nutanix has a one year low of $26.47 and a one year high of $73.69.

Insider Transactions at Nutanix

In related news, CFO Rukmini Sivaraman sold 53,029 shares of the company’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $64.77, for a total value of $3,434,688.33. Following the completion of the transaction, the chief financial officer now directly owns 144,635 shares in the company, valued at $9,368,008.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Rukmini Sivaraman sold 53,029 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $64.77, for a total value of $3,434,688.33. Following the completion of the sale, the chief financial officer now directly owns 144,635 shares in the company, valued at $9,368,008.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO David Sangster sold 10,384 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $54.19, for a total transaction of $562,708.96. Following the transaction, the chief operating officer now directly owns 64,333 shares in the company, valued at approximately $3,486,205.27. The disclosure for this sale can be found here. Insiders have sold 99,965 shares of company stock worth $5,965,961 over the last quarter. 0.46% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nutanix

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Atlantic Edge Private Wealth Management LLC acquired a new stake in Nutanix during the 4th quarter worth approximately $29,000. GAMMA Investing LLC purchased a new position in shares of Nutanix in the 4th quarter valued at $30,000. Kapitalo Investimentos Ltda acquired a new position in shares of Nutanix during the 4th quarter valued at $37,000. Harvest Fund Management Co. Ltd purchased a new stake in Nutanix during the 4th quarter worth $40,000. Finally, Fifth Third Bancorp acquired a new stake in Nutanix in the 4th quarter valued at $62,000. 85.25% of the stock is currently owned by institutional investors and hedge funds.

Nutanix Company Profile

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.