Nutanix (NASDAQ:NTNX) Upgraded to Strong-Buy at StockNews.com

Nutanix (NASDAQ:NTNX) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Thursday.

Several other analysts also recently commented on NTNX. JPMorgan Chase & Co. increased 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. Raymond James increased their price objective on Nutanix from $76.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Piper Sandler lifted their price objective on Nutanix from $77.00 to $83.00 and gave the stock an “overweight” rating in a report on Wednesday. Needham & Company LLC upped their target price on shares of Nutanix from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Royal Bank of Canada lifted their price target on shares of Nutanix from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $78.86.

Nutanix Stock Performance

Shares of NTNX stock opened at $65.28 on Thursday. The company has a market capitalization of $17.31 billion, a price-to-earnings ratio of -186.51, a price-to-earnings-growth ratio of 11.04 and a beta of 1.17. Nutanix has a one year low of $42.22 and a one year high of $75.80. The company’s 50-day moving average is $64.88 and its 200 day moving average is $59.45.

Nutanix (NASDAQ:NTNX) last posted its quarterly earnings results on Wednesday, August 28th. The technology company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The firm had revenue of $547.95 million for the quarter, compared to analysts’ expectations 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, research analysts predict that Nutanix will post 0.31 earnings per share for the current fiscal year.

Insider Activity

In other news, COO David Sangster sold 11,950 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $59.83, for a total value of $714,968.50. Following the transaction, the chief operating officer now owns 123,868 shares of the company’s stock, valued at $7,411,022.44. This trade represents a 8.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Rukmini Sivaraman sold 24,316 shares of the business’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 owns 192,169 shares of the company’s stock, valued at approximately $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 Trading of Nutanix

Several institutional investors and hedge funds have recently modified their holdings of the company. Cetera Investment Advisers raised its holdings in Nutanix by 48.7% during the first quarter. Cetera Investment Advisers now owns 76,103 shares of the technology company’s stock valued at $4,697,000 after acquiring an additional 24,918 shares during the period. Diversified Trust Co grew its position in shares of Nutanix by 46.7% during the second quarter. Diversified Trust Co now owns 36,666 shares of the technology company’s stock worth $2,084,000 after purchasing an additional 11,668 shares in the last quarter. Versor Investments LP raised its stake in Nutanix by 211.7% during the 3rd quarter. Versor Investments LP now owns 33,352 shares of the technology company’s stock valued at $1,976,000 after purchasing an additional 22,652 shares during the period. Marshall Wace LLP lifted its holdings in Nutanix by 47.5% in the 2nd quarter. Marshall Wace LLP now owns 1,482,989 shares of the technology company’s stock worth $84,308,000 after purchasing an additional 477,838 shares in the last quarter. Finally, Resolute Capital Asset Partners LLC bought a new position in Nutanix in the 2nd quarter worth approximately $2,274,000. 85.25% of the stock is currently owned by institutional investors.

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.