Morgan Stanley Issues Positive Forecast for Nutanix (NASDAQ:NTNX) Stock Price

Nutanix (NASDAQ:NTNX) had its target price hoisted by Morgan Stanley from $72.00 to $78.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

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

Nutanix Trading Down 7.8 %

Shares of NTNX opened at $66.70 on Wednesday. The stock’s 50 day moving average is $64.64 and its two-hundred day moving average is $59.40. Nutanix has a twelve month low of $40.44 and a twelve month high of $75.80. The firm has a market capitalization of $17.69 billion, a PE ratio of -128.27, a P/E/G ratio of 12.05 and a beta of 1.17.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings data on Wednesday, August 28th. The technology company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 7.57% and a negative net margin of 5.81%. On average, sell-side analysts predict that Nutanix will post 0.31 EPS for the current year.

Insider Buying and Selling at Nutanix

In other Nutanix news, COO David Sangster sold 11,950 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $59.83, for a total value 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 approximately $7,411,022.44. The trade was a 8.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 value of $1,430,996.60. Following the sale, the chief financial officer now owns 192,169 shares in the company, 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 Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Freedom Investment Management Inc. grew its holdings in 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 purchasing an additional 151 shares during the period. CIBC Asset Management Inc boosted its holdings in shares of 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 grew its stake in shares of Nutanix by 35.2% during the 2nd quarter. GAMMA Investing LLC now owns 933 shares of the technology company’s stock valued at $53,000 after buying an additional 243 shares during the period. Paragon Capital Management Inc. increased its holdings in shares of Nutanix by 1.0% during the 3rd 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 during the last quarter. Finally, Larson Financial Group LLC raised its position in shares of Nutanix by 122.7% in the 3rd quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock worth $30,000 after buying an additional 281 shares during the period. Institutional investors and hedge funds own 85.25% of the company’s stock.

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.