Analysts Set Nutanix, Inc. (NASDAQ:NTNX) Price Target at $73.31

Shares of Nutanix, Inc. (NASDAQ:NTNX) have been assigned an average rating of “Moderate Buy” from the fifteen analysts that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $73.38.

NTNX has been the subject of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $80.00 price target on shares of Nutanix in a report on Thursday, August 29th. 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 report on Thursday, August 29th. Raymond James lifted their price target on shares of Nutanix from $76.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Royal Bank of Canada increased their price objective on shares of Nutanix from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, Morgan Stanley raised shares of Nutanix from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $71.00 to $72.00 in a research note on Monday.

Insider Transactions at Nutanix

In related news, 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 transaction of $714,968.50. Following the completion of 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Nutanix news, COO David Sangster sold 11,950 shares of the business’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 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 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 this hyperlink. Also, CFO Rukmini Sivaraman sold 24,316 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 192,169 shares of the company’s stock, valued at approximately $11,309,145.65. This trade represents a 0.00 % decrease in their position. 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

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Nutanix by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 25,087,143 shares of the technology company’s stock worth $1,548,378,000 after buying an additional 346,414 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Nutanix by 29.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,358,768 shares of the technology company’s stock worth $269,024,000 after purchasing an additional 985,421 shares during the period. Jericho Capital Asset Management L.P. raised its position in shares of Nutanix by 13.1% during the first quarter. Jericho Capital Asset Management L.P. now owns 3,988,923 shares of the technology company’s stock worth $246,196,000 after purchasing an additional 462,000 shares during the period. Renaissance Technologies LLC grew its position in Nutanix by 7.4% in the 2nd quarter. Renaissance Technologies LLC now owns 3,738,756 shares of the technology company’s stock valued at $212,548,000 after purchasing an additional 256,156 shares during the period. Finally, Nordea Investment Management AB increased its stake in Nutanix by 387.1% during the 1st quarter. Nordea Investment Management AB now owns 2,612,812 shares of the technology company’s stock valued at $162,229,000 after purchasing an additional 2,076,377 shares in the last quarter. Institutional investors own 85.25% of the company’s stock.

Nutanix Stock Up 1.3 %

Shares of Nutanix stock opened at $64.97 on Friday. Nutanix has a 12-month low of $34.80 and a 12-month high of $73.69. The company has a market capitalization of $17.23 billion, a price-to-earnings ratio of -124.94, a PEG ratio of 12.48 and a beta of 1.18. The firm’s 50-day moving average price is $60.39 and its two-hundred day moving average price is $58.44.

Nutanix (NASDAQ:NTNX) last posted its quarterly earnings results on Wednesday, August 28th. The technology company reported ($0.06) earnings per share (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 business had revenue of $547.95 million for the quarter, compared to analyst estimates of $537.12 million. On average, sell-side analysts expect that Nutanix will post 0.27 earnings per share for the current year.

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.