Barclays Cuts Nutanix (NASDAQ:NTNX) Price Target to $71.00

Nutanix (NASDAQ:NTNX) had its price objective trimmed by Barclays from $80.00 to $71.00 in a research note released on Tuesday, Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

Other research analysts have also issued research reports about the stock. Royal Bank of Canada raised their target price on shares of Nutanix from $72.00 to $80.00 and gave the company an overweight rating in a research note on Wednesday, May 29th. KeyCorp raised their price objective on shares of Nutanix from $69.00 to $79.00 and gave the company an overweight rating in a research note on Thursday, May 30th. Morgan Stanley dropped their target price on shares of Nutanix from $72.00 to $62.00 and set an equal weight rating for the company in a research report on Friday, June 21st. JPMorgan Chase & Co. raised their price target on Nutanix from $70.00 to $80.00 and gave the stock an overweight rating in a research report on Friday, May 24th. Finally, Northland Capmk downgraded Nutanix from a strong-buy rating to a hold rating in a report on Thursday, May 30th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $71.85.

Nutanix Price Performance

NTNX stock opened at $52.61 on Tuesday. The company has a 50 day moving average price of $52.54 and a 200 day moving average price of $58.77. Nutanix has a fifty-two week low of $29.25 and a fifty-two week high of $73.69. The stock has a market capitalization of $12.98 billion, a PE ratio of -751.57, a price-to-earnings-growth ratio of 4.45 and a beta of 1.16.

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

Insider Activity

In related news, CEO Rajiv Ramaswami sold 23,986 shares of the stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $54.19, for a total transaction of $1,299,801.34. Following the completion of the transaction, the chief executive officer now owns 407,045 shares in the company, valued at $22,057,768.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Nutanix news, CEO Rajiv Ramaswami sold 23,986 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 transaction of $1,299,801.34. Following the sale, the chief executive officer now directly owns 407,045 shares of the company’s stock, valued at approximately $22,057,768.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Rukmini Sivaraman sold 12,566 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $53.22, for a total value of $668,762.52. Following the completion of the transaction, the chief financial officer now owns 144,902 shares of the company’s stock, valued at approximately $7,711,684.44. The disclosure for this sale can be found here. Insiders have sold 46,936 shares of company stock worth $2,531,273 over the last ninety days. Insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Nutanix

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. FIL Ltd raised its holdings in shares of Nutanix by 74.7% in the 4th quarter. FIL Ltd now owns 8,908,166 shares of the technology company’s stock valued at $424,830,000 after purchasing an additional 3,809,981 shares during the period. Norges Bank bought a new stake in Nutanix in the fourth quarter valued at approximately $137,465,000. Nordea Investment Management AB lifted its position in shares of Nutanix by 387.1% in the first 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 last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Nutanix by 29.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,358,768 shares of the technology company’s stock worth $269,024,000 after acquiring an additional 985,421 shares during the period. Finally, Driehaus Capital Management LLC increased 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 last quarter. 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.