Nutanix (NASDAQ:NTNX) Price Target Raised to $75.00

Nutanix (NASDAQ:NTNX) had its price objective boosted by Royal Bank of Canada from $70.00 to $75.00 in a research note issued to investors on Thursday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the technology company’s stock.

Other equities research analysts have also recently issued research reports about the company. Morgan Stanley upped their price objective on Nutanix from $62.00 to $71.00 and gave the stock an equal weight rating in a research note on Thursday. Northland Securities cut shares of Nutanix from an outperform rating to a market perform rating and set a $71.00 price target for the company. in a research note on Thursday, May 30th. Raymond James lifted their price objective on shares of Nutanix from $76.00 to $85.00 and gave the company an outperform rating in a research report on Thursday. JPMorgan Chase & Co. upped 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. Finally, Needham & Company LLC reiterated a buy rating and set a $80.00 price target on shares of Nutanix in a report on Thursday. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $73.31.

Nutanix Price Performance

Shares of NASDAQ:NTNX opened at $63.19 on Thursday. The stock has a market capitalization of $15.59 billion, a PE ratio of -902.71, a price-to-earnings-growth ratio of 4.45 and a beta of 1.16. The company’s 50-day moving average price is $52.87 and its two-hundred day moving average price is $58.73. Nutanix has a one year low of $30.26 and a one year high of $73.69.

Nutanix (NASDAQ:NTNX) last released its earnings results on Wednesday, May 29th. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.12. The business had revenue of $524.58 million for the quarter, compared to analyst estimates of $516.13 million. Nutanix had a negative return on equity of 7.74% and a negative net margin of 0.57%. On average, analysts anticipate that Nutanix will post 0.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO David Sangster sold 10,384 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $54.19, for a total value of $562,708.96. Following the completion of the sale, the chief operating officer now owns 64,333 shares of the company’s stock, valued at $3,486,205.27. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Nutanix news, COO David Sangster sold 10,384 shares of Nutanix stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $54.19, for a total value of $562,708.96. Following the completion of the sale, the chief operating officer now owns 64,333 shares in the company, valued at approximately $3,486,205.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Rajiv Ramaswami sold 23,986 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $54.19, for a total transaction of $1,299,801.34. Following the transaction, the chief executive officer now owns 407,045 shares in the company, valued at approximately $22,057,768.55. The disclosure for this sale can be found here. Insiders have sold 46,936 shares of company stock worth $2,531,273 in the last 90 days. Company insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On Nutanix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FIL Ltd increased its position in shares of Nutanix by 74.7% in the fourth quarter. FIL Ltd now owns 8,908,166 shares of the technology company’s stock worth $424,830,000 after purchasing an additional 3,809,981 shares during the period. Norges Bank acquired a new stake in Nutanix during the fourth quarter worth about $137,465,000. Nordea Investment Management AB increased its holdings in Nutanix by 387.1% in 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 buying an additional 2,076,377 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Nutanix by 29.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,358,768 shares of the technology company’s stock valued at $269,024,000 after buying an additional 985,421 shares in the last quarter. Finally, Driehaus Capital Management LLC lifted its holdings in shares of Nutanix by 123.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,435,230 shares of the technology company’s stock worth $81,593,000 after acquiring an additional 794,215 shares during the period. 85.25% of the stock is 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.