Brokerages Set Nutanix, Inc. (NASDAQ:NTNX) Price Target at $72.00

Nutanix, Inc. (NASDAQ:NTNX) has been assigned an average recommendation of “Moderate Buy” from the fifteen ratings firms that are covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $72.00.

A number of research firms recently commented on NTNX. Barclays decreased their price objective on shares of Nutanix from $81.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Susquehanna increased their price objective on shares of Nutanix from $60.00 to $75.00 and gave the company a “positive” rating in a research note on Wednesday, April 10th. Northland Securities cut shares of Nutanix from an “outperform” rating to a “market perform” rating and set a $71.00 target price for the company. in a research report on Thursday, May 30th. KeyCorp increased their price target on shares of Nutanix from $69.00 to $79.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Finally, JPMorgan Chase & Co. upped their target price on Nutanix from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, May 24th.

Insider Activity at Nutanix

In related news, CEO Rajiv Ramaswami sold 23,986 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 407,045 shares in the company, valued at approximately $22,057,768.55. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Nutanix news, CEO Rajiv Ramaswami sold 23,986 shares of the firm’s 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 completion of the sale, the chief executive officer now owns 407,045 shares in the company, valued at approximately $22,057,768.55. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Rukmini Sivaraman sold 12,566 shares of Nutanix stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $53.22, for a total transaction of $668,762.52. Following the completion of the sale, 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. Over the last quarter, insiders have sold 99,965 shares of company stock worth $5,965,961. Company insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On Nutanix

A number of hedge funds have recently added to or reduced their stakes in the business. FIL Ltd boosted its holdings in shares of Nutanix by 74.7% during 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 period. Norges Bank acquired a new stake in shares of Nutanix in the 4th quarter worth approximately $137,465,000. Jericho Capital Asset Management L.P. bought a new position in shares of Nutanix in the third quarter valued at approximately $82,421,000. Nordea Investment Management AB increased its stake in shares of Nutanix by 387.1% during 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 acquiring an additional 2,076,377 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake 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 worth $269,024,000 after buying an additional 985,421 shares in the last quarter. Institutional investors and hedge funds own 85.25% of the company’s stock.

Nutanix Stock Performance

NASDAQ NTNX opened at $54.98 on Friday. Nutanix has a one year low of $26.47 and a one year high of $73.69. The firm has a market cap of $13.56 billion, a price-to-earnings ratio of -785.32, a PEG ratio of 14.35 and a beta of 1.10. The firm has a 50 day simple moving average of $61.25 and a 200-day simple moving average of $58.19.

Nutanix (NASDAQ:NTNX) last posted its earnings results on Wednesday, May 29th. The technology company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.12. The firm had revenue of $524.58 million during the quarter, compared to analysts’ expectations of $516.13 million. Nutanix had a negative return on equity of 7.74% and a negative net margin of 0.57%. Equities analysts predict that Nutanix will post 0.09 EPS for the current fiscal 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.