Nutanix (NASDAQ:NTNX) PT Raised to $75.00

Nutanix (NASDAQ:NTNX) had its target price upped by equities researchers at JPMorgan Chase & Co. from $65.00 to $75.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 21.18% from the stock’s current price.

Several other brokerages also recently issued reports on NTNX. Northland Capmk downgraded Nutanix from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 30th. Royal Bank of Canada boosted their price objective on shares of Nutanix from $72.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, May 29th. Northland Securities lowered shares of Nutanix from an “outperform” rating to a “market perform” rating and set a $71.00 target price for the company. in a research note on Thursday, May 30th. Needham & Company LLC restated a “buy” rating and set a $80.00 price target on shares of Nutanix in a report on Thursday. Finally, Morgan Stanley lowered their target price on Nutanix from $72.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Friday, June 21st. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Nutanix has an average rating of “Moderate Buy” and an average price target of $73.38.

Nutanix Stock Performance

Shares of NASDAQ:NTNX traded up $9.60 on Thursday, hitting $61.89. The company’s stock had a trading volume of 741,189 shares, compared to its average volume of 2,661,921. Nutanix has a 12 month low of $30.26 and a 12 month high of $73.69. The stock’s 50-day moving average is $52.47 and its two-hundred day moving average is $58.65. The company has a market capitalization of $15.26 billion, a price-to-earnings ratio of -881.14, a price-to-earnings-growth ratio of 4.45 and a beta of 1.16.

Nutanix (NASDAQ:NTNX) last released its quarterly earnings results on Wednesday, August 28th. The technology company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The business had revenue of $547.95 million during the quarter, compared to analyst estimates of $537.12 million. Nutanix had a negative return on equity of 7.74% and a negative net margin of 0.57%. Equities analysts expect that Nutanix will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Nutanix

In related news, COO David Sangster sold 10,384 shares of the stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $54.19, for a total value of $562,708.96. Following the completion of the transaction, the chief operating officer now owns 64,333 shares of the company’s stock, valued at $3,486,205.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Nutanix news, COO David Sangster sold 10,384 shares of Nutanix stock in a transaction 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 completion of the transaction, the chief operating officer now directly owns 64,333 shares of the company’s stock, valued at $3,486,205.27. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Rukmini Sivaraman sold 12,566 shares of the stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $53.22, for a total transaction of $668,762.52. Following the sale, the chief financial officer now owns 144,902 shares of the company’s stock, valued at approximately $7,711,684.44. The disclosure for this sale can be found here. Insiders have sold 46,936 shares of company stock valued at $2,531,273 in the last 90 days. 0.46% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nutanix

Several institutional investors have recently bought and sold shares of the business. Senator Investment Group LP acquired a new stake in shares of Nutanix in the second quarter valued at $4,858,000. Creative Planning increased its holdings in shares of Nutanix by 45.8% in the second quarter. Creative Planning now owns 10,955 shares of the technology company’s stock valued at $623,000 after purchasing an additional 3,440 shares in the last quarter. Algert Global LLC lifted its holdings in Nutanix by 18.6% during the 2nd quarter. Algert Global LLC now owns 147,064 shares of the technology company’s stock worth $8,361,000 after buying an additional 23,037 shares in the last quarter. Driehaus Capital Management LLC boosted its position in Nutanix by 123.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,435,230 shares of the technology company’s stock valued at $81,593,000 after buying an additional 794,215 shares during the last quarter. Finally, Mackenzie Financial Corp increased its stake in shares of Nutanix by 34.8% in the 2nd quarter. Mackenzie Financial Corp now owns 647,899 shares of the technology company’s stock valued at $36,833,000 after buying an additional 167,220 shares during the period. 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.