Nutanix (NASDAQ:NTNX) Shares Gap Up After Analyst Upgrade

Nutanix, Inc. (NASDAQ:NTNX)’s stock price gapped up before the market opened on Wednesday after Barclays raised their price target on the stock from $75.00 to $87.00. The stock had previously closed at $72.35, but opened at $76.04. Barclays currently has an overweight rating on the stock. Nutanix shares last traded at $76.04, with a volume of 54,210 shares changing hands.

NTNX has been the subject of a number of other research reports. Piper Sandler boosted their price target on Nutanix from $76.00 to $77.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Oppenheimer began coverage on Nutanix in a research report on Wednesday, November 13th. They set an “outperform” rating and a $80.00 price target for the company. Needham & Company LLC boosted their price objective on Nutanix from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday. Northland Securities reissued a “market perform” rating and issued a $77.00 price objective (up previously from $74.00) on shares of Nutanix in a research note on Wednesday. Finally, JPMorgan Chase & Co. boosted their price objective on Nutanix from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $75.64.

Insider Buying and Selling at Nutanix

In other news, COO David Sangster sold 11,950 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $59.83, for a total transaction of $714,968.50. Following the completion of the sale, the chief operating officer now owns 123,868 shares in the company, valued at approximately $7,411,022.44. This represents a 8.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Rukmini Sivaraman sold 24,316 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $11,309,145.65. This trade represents a 11.23 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.80% of the company’s stock.

Institutional Trading of Nutanix

Large investors have recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Nutanix during the 2nd quarter worth about $25,000. ORG Wealth Partners LLC acquired a new position in shares of Nutanix during the 3rd quarter worth about $27,000. Larson Financial Group LLC lifted its position 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 worth $30,000 after purchasing an additional 281 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Nutanix during the 2nd quarter worth about $32,000. Finally, Advisors Asset Management Inc. raised its holdings in Nutanix by 150.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock valued at $32,000 after acquiring an additional 321 shares in the last quarter. Institutional investors own 85.25% of the company’s stock.

Nutanix Trading Down 2.1 %

The firm has a fifty day simple moving average of $64.45 and a 200 day simple moving average of $59.35. The stock has a market cap of $18.79 billion, a price-to-earnings ratio of -146.23, a PEG ratio of 12.05 and a beta of 1.17.

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