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

Nutanix (NASDAQ:NTNX) had its target price boosted by equities researchers at Bank of America from $72.00 to $75.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Bank of America‘s price target would suggest a potential upside of 18.69% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Raymond James lifted their price target on Nutanix from $72.00 to $76.00 and gave the stock an “outperform” rating in a report on Thursday, May 30th. Barclays reduced their target price on Nutanix from $80.00 to $71.00 and set an “overweight” rating for the company in a research note on Tuesday, August 20th. JPMorgan Chase & Co. dropped their price target on Nutanix from $80.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Royal Bank of Canada lifted their price objective on shares of Nutanix from $72.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 29th. Finally, Morgan Stanley dropped their price objective on shares of Nutanix from $72.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Friday, June 21st. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.31.

Nutanix Trading Up 0.4 %

NASDAQ NTNX opened at $63.19 on Thursday. Nutanix has a 12 month low of $30.26 and a 12 month high of $73.69. The stock has a 50 day moving average of $52.87 and a 200-day moving average of $58.73. The company has a market cap of $15.59 billion, a PE ratio of -902.71, a PEG ratio of 4.45 and a beta of 1.16.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings results on Wednesday, May 29th. The technology company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.12. Nutanix had a negative net margin of 0.57% and a negative return on equity of 7.74%. The firm had revenue of $524.58 million during the quarter, compared to analysts’ expectations of $516.13 million. As a group, sell-side analysts predict that Nutanix will post 0.12 EPS for the current fiscal year.

Insider Activity at Nutanix

In other Nutanix news, COO David Sangster sold 10,384 shares of the firm’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $54.19, for a total transaction of $562,708.96. Following the transaction, the chief operating officer now owns 64,333 shares in the company, valued at approximately $3,486,205.27. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, COO David Sangster sold 10,384 shares of the stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $54.19, for a total transaction of $562,708.96. Following the sale, the chief operating officer now directly owns 64,333 shares of the company’s stock, valued at approximately $3,486,205.27. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 value of $1,299,801.34. Following the completion of the transaction, the chief executive officer now directly owns 407,045 shares of the company’s stock, valued at approximately $22,057,768.55. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,936 shares of company stock worth $2,531,273. Company insiders own 0.46% of the company’s stock.

Institutional Trading of Nutanix

Several large investors have recently made changes to their positions in NTNX. Vanguard Group Inc. lifted its stake in Nutanix by 1.4% during the first quarter. Vanguard Group Inc. now owns 25,087,143 shares of the technology company’s stock worth $1,548,378,000 after purchasing an additional 346,414 shares during the last quarter. Generation Investment Management LLP boosted its stake in Nutanix by 1.8% in the fourth quarter. Generation Investment Management LLP now owns 17,257,588 shares of the technology company’s stock valued at $823,014,000 after buying an additional 300,942 shares in the last quarter. FIL Ltd grew its position in Nutanix by 74.7% in the fourth quarter. FIL Ltd now owns 8,908,166 shares of the technology company’s stock valued at $424,830,000 after acquiring an additional 3,809,981 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in 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 acquiring an additional 985,421 shares in the last quarter. Finally, Jericho Capital Asset Management L.P. lifted its holdings in shares of Nutanix by 13.1% in 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 acquiring an additional 462,000 shares during the last quarter. Institutional investors and hedge funds 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.