Nutanix, Inc. (NASDAQ:NTNX) Receives Average Rating of “Moderate Buy” from Analysts

Nutanix, Inc. (NASDAQ:NTNX) has been given a consensus recommendation of “Moderate Buy” by the sixteen research firms that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $73.86.

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

Nutanix Stock Up 3.2 %

NASDAQ:NTNX opened at $73.18 on Tuesday. Nutanix has a twelve month low of $40.33 and a twelve month high of $73.69. The firm has a market capitalization of $19.41 billion, a price-to-earnings ratio of -140.73, a price-to-earnings-growth ratio of 11.74 and a beta of 1.17. The stock’s 50 day moving average price is $63.90 and its two-hundred day moving average price is $59.33.

Nutanix (NASDAQ:NTNX) last posted its quarterly earnings results on Wednesday, August 28th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate 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%. As a group, analysts anticipate that Nutanix will post 0.31 earnings per share for the current year.

Insider Buying and Selling at Nutanix

In other news, COO David Sangster sold 11,950 shares of the company’s stock in a transaction that occurred on 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 sale, the chief operating officer now owns 123,868 shares of the company’s stock, valued at approximately $7,411,022.44. This represents a 8.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Rukmini Sivaraman sold 24,316 shares of Nutanix stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $58.85, for a total transaction of $1,430,996.60. Following the completion of the transaction, the chief financial officer now directly owns 192,169 shares in the company, valued at $11,309,145.65. This trade represents a 11.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Nutanix

Several institutional investors and hedge funds have recently added to or reduced their stakes in NTNX. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Nutanix during the 2nd quarter worth $25,000. ORG Wealth Partners LLC bought a new position in Nutanix in the third quarter valued at about $27,000. Larson Financial Group LLC raised its stake in Nutanix by 122.7% during the third quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock worth $30,000 after acquiring an additional 281 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Nutanix in the second quarter worth about $32,000. Finally, Advisors Asset Management Inc. boosted its stake in shares of Nutanix by 150.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock valued at $32,000 after purchasing an additional 321 shares in the last quarter. 85.25% of the stock is currently owned by institutional investors.

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.