Nutanix (NASDAQ:NTNX) Receives Market Perform Rating from Northland Securities

Nutanix (NASDAQ:NTNX)‘s stock had its “market perform” rating reiterated by stock analysts at Northland Securities in a report issued on Wednesday,Benzinga reports. They presently have a $77.00 price target on the technology company’s stock, up from their previous price target of $74.00. Northland Securities’ target price would suggest a potential upside of 15.44% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Raymond James boosted their price objective on Nutanix from $76.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Royal Bank of Canada upped their price target on Nutanix from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Bank of America raised their price objective on shares of Nutanix from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Oppenheimer started coverage on shares of Nutanix in a research note on Wednesday, November 13th. They set an “outperform” rating and a $80.00 target price for the company. Finally, JPMorgan Chase & Co. raised their price target on shares of Nutanix from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Nutanix presently has a consensus rating of “Moderate Buy” and an average target price of $78.86.

Nutanix Stock Down 7.8 %

NASDAQ:NTNX opened at $66.70 on Wednesday. The company’s 50 day moving average is $64.79 and its 200-day moving average is $59.45. The firm has a market cap of $17.69 billion, a price-to-earnings ratio of -128.27, a P/E/G ratio of 12.05 and a beta of 1.17. Nutanix has a 12 month low of $40.44 and a 12 month high of $75.80.

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

Insider Activity

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

Hedge Funds Weigh In On Nutanix

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Freedom Investment Management Inc. raised its stake in shares of Nutanix by 4.0% in the third quarter. Freedom Investment Management Inc. now owns 3,883 shares of the technology company’s stock valued at $230,000 after acquiring an additional 151 shares during the last quarter. CIBC Asset Management Inc raised its position in Nutanix by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 7,036 shares of the technology company’s stock valued at $417,000 after purchasing an additional 233 shares during the last quarter. GAMMA Investing LLC boosted its stake in Nutanix by 35.2% in the second quarter. GAMMA Investing LLC now owns 933 shares of the technology company’s stock worth $53,000 after purchasing an additional 243 shares in the last quarter. Paragon Capital Management Inc. grew its holdings in shares of Nutanix by 1.0% during the third quarter. Paragon Capital Management Inc. now owns 26,082 shares of the technology company’s stock worth $1,545,000 after purchasing an additional 258 shares during the last quarter. Finally, Larson Financial Group LLC increased its stake in shares of Nutanix by 122.7% in the third quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock valued at $30,000 after buying an additional 281 shares in the last quarter. 85.25% of the stock is currently owned by institutional investors and hedge funds.

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.