Nutanix (NASDAQ:NTNX) Rating Increased to Overweight at Morgan Stanley

Morgan Stanley upgraded shares of Nutanix (NASDAQ:NTNX) from an equal weight rating to an overweight rating in a research report report published on Monday, MarketBeat Ratings reports. Morgan Stanley currently has $72.00 price objective on the technology company’s stock, up from their previous price objective of $71.00.

NTNX has been the subject of a number of other research reports. Bank of America increased their target price on shares of Nutanix from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Needham & Company LLC reissued a “buy” rating and set a $80.00 price objective on shares of Nutanix in a research report on Thursday, August 29th. JPMorgan Chase & Co. boosted their target price on Nutanix from $65.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Northland Securities raised their price target on Nutanix from $71.00 to $74.00 and gave the stock a “market perform” rating in a research note on Friday, August 30th. Finally, Raymond James boosted their price target on Nutanix from $76.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Nutanix currently has a consensus rating of “Moderate Buy” and an average target price of $73.38.

Nutanix Trading Down 3.2 %

NASDAQ:NTNX opened at $62.10 on Monday. The business’s fifty day moving average price is $60.80 and its 200 day moving average price is $58.51. The firm has a market capitalization of $16.47 billion, a price-to-earnings ratio of -119.42, a PEG ratio of 12.48 and a beta of 1.18. Nutanix has a 1-year low of $35.20 and a 1-year high of $73.69.

Nutanix (NASDAQ:NTNX) last released its earnings results on Wednesday, August 28th. The technology company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.02. The company had revenue of $547.95 million for the quarter, compared to analysts’ expectations of $537.12 million. Nutanix had a negative return on equity of 7.57% and a negative net margin of 5.81%. Equities analysts forecast that Nutanix will post 0.27 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Rukmini Sivaraman sold 24,316 shares of Nutanix stock in a transaction 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 in the company, valued at $11,309,145.65. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 stock was 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 directly owns 123,868 shares in the company, valued at $7,411,022.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Rukmini Sivaraman sold 24,316 shares of the firm’s stock in a transaction on 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 owns 192,169 shares in the company, valued at approximately $11,309,145.65. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 6.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Nutanix

Several large investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its holdings in shares of Nutanix by 35.2% during the 2nd quarter. GAMMA Investing LLC now owns 933 shares of the technology company’s stock worth $53,000 after purchasing an additional 243 shares during the period. Paragon Capital Management Inc. grew its position in 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 buying an additional 258 shares in the last quarter. Signaturefd LLC increased its stake in Nutanix by 57.8% during the third quarter. Signaturefd LLC now owns 956 shares of the technology company’s stock valued at $57,000 after acquiring an additional 350 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Nutanix by 2.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 18,433 shares of the technology company’s stock valued at $1,138,000 after acquiring an additional 369 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Nutanix by 9.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 4,500 shares of the technology company’s stock worth $256,000 after acquiring an additional 370 shares during the period. 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.