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

Nutanix, Inc. (NASDAQ:NTNX) has been given an average recommendation of “Moderate Buy” by the fifteen brokerages that are currently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $72.00.

NTNX has been the topic of a number of recent research reports. Royal Bank of Canada increased their target price on Nutanix from $72.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 29th. Northland Capmk lowered shares of Nutanix from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 30th. Raymond James upped their target price on shares of Nutanix from $72.00 to $76.00 and gave the stock an “outperform” rating in a research note on Thursday, May 30th. Northland Securities downgraded 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 report on Thursday, May 30th. Finally, Needham & Company LLC upped their price objective on Nutanix from $72.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, May 30th.

Insider Buying and Selling

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

Institutional Investors Weigh In On Nutanix

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC lifted its position in Nutanix by 35.2% during the second quarter. GAMMA Investing LLC now owns 933 shares of the technology company’s stock valued at $53,000 after purchasing an additional 243 shares in the last quarter. M&T Bank Corp grew its stake in shares of Nutanix by 3.6% during the 4th quarter. M&T Bank Corp now owns 9,270 shares of the technology company’s stock valued at $442,000 after acquiring an additional 325 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Nutanix by 2.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 18,433 shares of the technology company’s stock valued at $1,138,000 after acquiring an additional 369 shares during the period. 180 Wealth Advisors LLC increased its holdings in Nutanix by 3.6% in the 2nd quarter. 180 Wealth Advisors LLC now owns 10,854 shares of the technology company’s stock worth $615,000 after acquiring an additional 374 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its stake in Nutanix by 49.7% during the 1st quarter. Venturi Wealth Management LLC now owns 1,208 shares of the technology company’s stock worth $75,000 after acquiring an additional 401 shares during the period. Institutional investors own 85.25% of the company’s stock.

Nutanix Price Performance

NASDAQ:NTNX opened at $48.30 on Wednesday. The firm has a market capitalization of $11.91 billion, a P/E ratio of -689.90, a PEG ratio of 10.85 and a beta of 1.16. Nutanix has a one year low of $28.49 and a one year high of $73.69. The company’s 50-day simple moving average is $58.79 and its 200 day simple moving average is $59.31.

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, beating the consensus estimate of ($0.11) by $0.12. The firm had revenue of $524.58 million during the quarter, compared to analyst estimates of $516.13 million. Nutanix had a negative net margin of 0.57% and a negative return on equity of 7.74%. On average, equities research analysts expect that Nutanix will post 0.11 earnings per share 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.