Nutanix (NASDAQ:NTNX) Upgraded at StockNews.com

Nutanix (NASDAQ:NTNX) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Thursday.

NTNX has been the subject of several other research reports. Needham & Company LLC increased their target price on shares of Nutanix from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday. Bank of America increased their target price on shares of Nutanix from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Morgan Stanley increased their target price on shares of Nutanix from $72.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday. Barclays increased their target price on shares of Nutanix from $75.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Oppenheimer initiated coverage on shares of Nutanix in a research note on Wednesday, November 13th. They set an “outperform” rating and a $80.00 target price for the company. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $78.86.

Nutanix Stock Performance

NASDAQ NTNX traded down $5.65 during trading hours on Thursday, hitting $66.70. The company had a trading volume of 7,735,697 shares, compared to its average volume of 2,582,859. Nutanix has a 1-year low of $40.44 and a 1-year high of $75.80. The company has a market cap of $17.69 billion, a PE ratio of -128.27, a price-to-earnings-growth ratio of 12.05 and a beta of 1.17. The business has a 50 day moving average of $64.79 and a 200-day moving average of $59.45.

Nutanix (NASDAQ:NTNX) last released its quarterly earnings data on Wednesday, August 28th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.02. Nutanix had a negative net margin of 5.81% and a negative return on equity of 7.57%. The company had revenue of $547.95 million during the quarter, compared to the consensus estimate of $537.12 million. Sell-side analysts expect that Nutanix will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Nutanix

In other Nutanix news, CFO Rukmini Sivaraman sold 24,316 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $58.85, for a total value of $1,430,996.60. Following the completion of the transaction, the chief financial officer now directly 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO David Sangster sold 11,950 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $59.83, for a total transaction of $714,968.50. Following the completion of the transaction, the chief operating officer now directly owns 123,868 shares of the company’s stock, valued at approximately $7,411,022.44. This trade represents a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Nutanix during the 2nd quarter worth approximately $25,000. ORG Wealth Partners LLC purchased a new position in shares of Nutanix during the 3rd quarter worth approximately $27,000. Larson Financial Group LLC increased its stake 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 in the last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of Nutanix during the 2nd quarter worth approximately $32,000. Finally, Advisors Asset Management Inc. increased its stake in shares of Nutanix by 150.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock worth $32,000 after purchasing an additional 321 shares in the last quarter. 85.25% of the stock is owned by hedge funds and other institutional investors.

About Nutanix

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.