Nutanix (NASDAQ:NTNX) Given New $78.00 Price Target at Morgan Stanley

Nutanix (NASDAQ:NTNX) had its price objective upped by analysts at Morgan Stanley from $72.00 to $78.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Morgan Stanley’s price objective indicates a potential upside of 16.94% from the company’s previous close.

A number of other research analysts have also recently commented on the company. Raymond James boosted their price target on Nutanix from $76.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Piper Sandler upped their target price on shares of Nutanix from $77.00 to $83.00 and gave the stock an “overweight” rating in a research report on Wednesday. Bank of America raised their target price on shares of Nutanix from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. boosted their price target on shares of Nutanix from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Finally, Needham & Company LLC raised their price objective on Nutanix from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $78.86.

Nutanix Stock Performance

Shares of Nutanix stock opened at $66.70 on Wednesday. Nutanix has a fifty-two week low of $40.44 and a fifty-two week high of $75.80. The company has a market capitalization of $17.69 billion, a P/E ratio of -128.27, a P/E/G ratio of 12.05 and a beta of 1.17. The company has a fifty day moving average of $64.79 and a 200 day moving average of $59.45.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings data on Wednesday, August 28th. The technology company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.02. Nutanix had a negative return on equity of 7.57% and a negative net margin of 5.81%. The business had revenue of $547.95 million for the quarter, compared to the consensus estimate of $537.12 million. Analysts forecast that Nutanix will post 0.31 EPS for the current year.

Insiders Place Their Bets

In related news, COO David Sangster sold 11,950 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $59.83, for a total value of $714,968.50. Following the sale, the chief operating officer now directly owns 123,868 shares of the company’s stock, valued at $7,411,022.44. This represents a 8.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Rukmini Sivaraman sold 24,316 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $58.85, for a total value of $1,430,996.60. Following the transaction, the chief financial officer now owns 192,169 shares of the company’s stock, valued at $11,309,145.65. This trade represents a 11.23 % decrease in their position. The disclosure for this sale can be found here. 6.80% of the stock is owned by insiders.

Institutional Trading of Nutanix

A number of hedge funds and other institutional investors have recently bought and sold shares of NTNX. Bain Capital Investors LLC bought a new position in shares of Nutanix in the third quarter worth about $998,601,000. 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 period. Two Sigma Advisers LP grew its stake in Nutanix by 32.8% in the 3rd quarter. Two Sigma Advisers LP now owns 2,814,002 shares of the technology company’s stock worth $166,730,000 after acquiring an additional 695,567 shares in the last quarter. Marshall Wace LLP grew its stake in Nutanix by 47.5% in the 2nd quarter. Marshall Wace LLP now owns 1,482,989 shares of the technology company’s stock worth $84,308,000 after acquiring an additional 477,838 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Nutanix by 15.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,816,647 shares of the technology company’s stock valued at $166,886,000 after acquiring an additional 374,328 shares in the last quarter. Hedge funds and other institutional investors own 85.25% of the company’s stock.

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.