Nutanix (NASDAQ:NTNX) Upgraded by StockNews.com to “Strong-Buy” Rating

StockNews.com upgraded shares of Nutanix (NASDAQ:NTNX) from a buy rating to a strong-buy rating in a research note published on Thursday.

Several other brokerages have also weighed in on NTNX. Piper Sandler boosted their price objective on Nutanix from $77.00 to $83.00 and gave the company an “overweight” rating in a report on Wednesday. Raymond James upped their price target on Nutanix from $76.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. raised their price objective on Nutanix from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Bank of America boosted 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. Finally, Wells Fargo & Company raised their price target on shares of Nutanix from $60.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $78.86.

Nutanix Trading Down 2.1 %

Nutanix stock opened at $65.28 on Thursday. The stock has a 50 day moving average of $64.88 and a 200-day moving average of $59.40. The stock has a market cap of $17.31 billion, a P/E ratio of -186.51, a price-to-earnings-growth ratio of 11.04 and a beta of 1.17. Nutanix has a 52 week low of $42.22 and a 52 week high of $75.80.

Nutanix (NASDAQ:NTNX) last released its earnings results on Wednesday, August 28th. The technology company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.02. The company had revenue of $547.95 million during the quarter, compared to the consensus estimate of $537.12 million. Nutanix had a negative net margin of 3.54% and a negative return on equity of 12.43%. As a group, equities analysts predict that Nutanix will post 0.31 earnings per share for the current fiscal year.

Insider Transactions at Nutanix

In other Nutanix news, COO David Sangster sold 11,950 shares of the business’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 sale, the chief operating officer now directly owns 123,868 shares in the company, valued at approximately $7,411,022.44. The trade was a 8.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Rukmini Sivaraman sold 24,316 shares of the 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 owns 192,169 shares of the company’s stock, 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

A number of institutional investors have recently added to or reduced their stakes in the company. Tidal Investments LLC increased its position in shares of Nutanix by 4.0% during the 3rd quarter. Tidal Investments LLC now owns 22,297 shares of the technology company’s stock valued at $1,321,000 after purchasing an additional 862 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Nutanix during the third quarter valued at about $111,000. Sanctuary Advisors LLC acquired a new position in Nutanix during the third quarter worth about $555,000. Geode Capital Management LLC raised its position in Nutanix by 0.5% in the third quarter. Geode Capital Management LLC now owns 4,147,126 shares of the technology company’s stock worth $245,968,000 after acquiring an additional 22,091 shares in the last quarter. Finally, Groupama Asset Managment raised its position in Nutanix by 1.0% in the third quarter. Groupama Asset Managment now owns 707,000 shares of the technology company’s stock worth $41,890,000 after acquiring an additional 7,000 shares in the last quarter. 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.