Nutanix, Inc. (NASDAQ:NTNX) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Nutanix, Inc. (NASDAQ:NTNX) have been given an average rating of “Moderate Buy” by the fifteen analysts that are presently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $73.31.

Several research analysts recently commented on the company. Royal Bank of Canada boosted their price target on Nutanix from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Piper Sandler upped their target price on Nutanix from $76.00 to $77.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Needham & Company LLC reissued a “buy” rating and set a $80.00 price target on shares of Nutanix in a research report on Thursday, August 29th. JPMorgan Chase & Co. upped their price target on shares of Nutanix from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Finally, Northland Securities raised their price objective on shares of Nutanix from $71.00 to $74.00 and gave the stock a “market perform” rating in a report on Friday, August 30th.

Insider Activity at Nutanix

In other news, COO David Sangster sold 11,950 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $59.83, for a total transaction of $714,968.50. Following the sale, the chief operating officer now directly owns 123,868 shares in the company, valued at approximately $7,411,022.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO David Sangster sold 11,950 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $59.83, for a total transaction of $714,968.50. Following the completion of the transaction, the chief operating officer now owns 123,868 shares in the company, valued at $7,411,022.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Rukmini Sivaraman sold 24,316 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $58.85, for a total transaction of $1,430,996.60. Following the completion of the sale, the chief financial officer now directly owns 192,169 shares in the company, valued at approximately $11,309,145.65. The disclosure for this sale can be found here. Insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On Nutanix

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. bought a new stake in Nutanix during the 1st quarter valued at $1,384,000. Cetera Investment Advisers raised its stake in shares of Nutanix by 48.7% during the first quarter. Cetera Investment Advisers now owns 76,103 shares of the technology company’s stock valued at $4,697,000 after purchasing an additional 24,918 shares in the last quarter. Diversified Trust Co lifted its holdings in Nutanix by 46.7% in the second quarter. Diversified Trust Co now owns 36,666 shares of the technology company’s stock worth $2,084,000 after purchasing an additional 11,668 shares during the period. Vanguard Group Inc. grew its position in Nutanix by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 25,087,143 shares of the technology company’s stock valued at $1,548,378,000 after buying an additional 346,414 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in Nutanix by 387.1% during the 1st quarter. Nordea Investment Management AB now owns 2,612,812 shares of the technology company’s stock valued at $162,229,000 after buying an additional 2,076,377 shares during the period. 85.25% of the stock is currently owned by institutional investors and hedge funds.

Nutanix Stock Down 2.6 %

NASDAQ NTNX opened at $59.61 on Monday. Nutanix has a fifty-two week low of $33.78 and a fifty-two week high of $73.69. The business has a 50 day moving average price of $54.93 and a two-hundred day moving average price of $58.70. The stock has a market cap of $14.70 billion, a PE ratio of -851.57, a P/E/G ratio of 12.23 and a beta of 1.19.

Nutanix (NASDAQ:NTNX) last issued its quarterly earnings data on Wednesday, August 28th. The technology company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The firm had revenue of $547.95 million for the quarter, compared to analyst estimates of $537.12 million. Nutanix had a negative net margin of 5.81% and a negative return on equity of 7.57%. Sell-side analysts anticipate that Nutanix will post 0.27 EPS for the current fiscal year.

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.