Nutanix, Inc. (NASDAQ:NTNX) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Nutanix, Inc. (NASDAQ:NTNX) have received an average recommendation of “Moderate Buy” from the sixteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $73.86.

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada boosted their price target on shares of 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 target 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. Piper Sandler upped their price objective on Nutanix from $76.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Raymond James raised their target price on Nutanix from $76.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Finally, Northland Securities upped their price target on Nutanix from $71.00 to $74.00 and gave the company a “market perform” rating in a research report on Friday, August 30th.

Nutanix Stock Down 0.5 %

Nutanix stock opened at $72.80 on Tuesday. Nutanix has a 52 week low of $40.33 and a 52 week high of $75.80. The company’s 50 day moving average price is $64.17 and its two-hundred day moving average price is $59.32. The stock has a market cap of $19.31 billion, a P/E ratio of -140.00, a P/E/G ratio of 12.11 and a beta of 1.17.

Nutanix (NASDAQ:NTNX) last issued its quarterly earnings results on Wednesday, August 28th. The technology company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The business 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, equities analysts anticipate that Nutanix will post 0.31 EPS for the current year.

Insider Buying and Selling

In related news, CFO Rukmini Sivaraman sold 24,316 shares of the company’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 directly owns 192,169 shares in the company, valued at approximately $11,309,145.65. This represents a 11.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO David Sangster sold 11,950 shares of Nutanix stock in a transaction that occurred on 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 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. 6.80% of the stock is currently owned by insiders.

Institutional Trading of Nutanix

Institutional investors and hedge funds have recently made changes to their positions in the stock. Freedom Investment Management Inc. grew its position in Nutanix by 4.0% in the third quarter. Freedom Investment Management Inc. now owns 3,883 shares of the technology company’s stock worth $230,000 after acquiring an additional 151 shares in the last quarter. 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 worth $417,000 after purchasing an additional 233 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Nutanix by 35.2% in 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 in the last quarter. Paragon Capital Management Inc. increased its position 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 valued at $1,545,000 after purchasing an additional 258 shares during the last quarter. Finally, Larson Financial Group LLC raised its holdings in shares of Nutanix by 122.7% during the 3rd 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. 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.