Wells Fargo & Company Lowers Nutanix (NASDAQ:NTNX) Price Target to $20.00

Nutanix (NASDAQ:NTNXGet Rating) had its target price lowered by equities research analysts at Wells Fargo & Company to $20.00 in a note issued to investors on Thursday, Stock Target Advisor reports. Wells Fargo & Company‘s target price would indicate a potential upside of 24.84% from the stock’s previous close.

Other research analysts have also issued reports about the company. Susquehanna Bancshares lowered their target price on Nutanix to $25.00 in a report on Thursday. Bank of America cut shares of Nutanix from a “buy” rating to a “neutral” rating and lowered their price target for the company from $54.00 to $22.00 in a report on Thursday. JMP Securities cut their price target on shares of Nutanix from $48.00 to $35.00 and set a “market outperform” rating on the stock in a report on Thursday. Needham & Company LLC reduced their target price on Nutanix from $34.00 to $20.00 and set a “buy” rating for the company in a report on Thursday. Finally, Morgan Stanley lowered their price target on Nutanix from $31.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Thursday. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $30.83.

Shares of NTNX stock traded down $5.40 during mid-day trading on Thursday, hitting $16.02. 642,207 shares of the company’s stock were exchanged, compared to its average volume of 1,749,852. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of -3.38 and a beta of 1.50. The stock has a 50-day simple moving average of $24.95 and a two-hundred day simple moving average of $27.96. Nutanix has a fifty-two week low of $19.74 and a fifty-two week high of $44.50.

Nutanix (NASDAQ:NTNXGet Rating) last released its quarterly earnings data on Wednesday, May 25th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.17. The business had revenue of $403.70 million for the quarter, compared to analysts’ expectations of $397.90 million. Nutanix’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.87) earnings per share. As a group, sell-side analysts anticipate that Nutanix will post -2.34 EPS for the current year.

In related news, CFO Duston Williams sold 11,594 shares of the firm’s stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $23.78, for a total value of $275,705.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Tyler Wall sold 4,563 shares of the firm’s stock in a transaction dated Wednesday, March 16th. The shares were sold at an average price of $23.78, for a total transaction of $108,508.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 82,652 shares of company stock worth $1,970,165. Insiders own 0.92% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. O Shaughnessy Asset Management LLC grew its stake in Nutanix by 26.4% in the third quarter. O Shaughnessy Asset Management LLC now owns 1,537 shares of the technology company’s stock valued at $58,000 after acquiring an additional 321 shares during the period. Commonwealth Equity Services LLC grew its position in Nutanix by 2.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 19,139 shares of the technology company’s stock valued at $609,000 after acquiring an additional 413 shares during the last quarter. ARK Investment Management LLC lifted its holdings in Nutanix by 8.6% in the 1st quarter. ARK Investment Management LLC now owns 6,666 shares of the technology company’s stock worth $179,000 after buying an additional 530 shares during the period. Koshinski Asset Management Inc. raised its position in shares of Nutanix by 23.9% in the 4th quarter. Koshinski Asset Management Inc. now owns 2,902 shares of the technology company’s stock worth $92,000 after acquiring an additional 560 shares in the last quarter. Finally, Acorn Financial Advisory Services Inc. ADV boosted its holdings in shares of Nutanix by 1.5% during the 4th quarter. Acorn Financial Advisory Services Inc. ADV now owns 41,887 shares of the technology company’s stock valued at $1,335,000 after buying an additional 604 shares in the last quarter. Institutional investors and hedge funds own 70.43% of the company’s stock.

About Nutanix (Get Rating)

Nutanix, Inc provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. The company offers Acropolis converges virtualization, enterprise storage services, and networking visualization and security services; Acropolis Hypervisor, an enterprise-grade virtualization solution; Nutanix Karbon for automated deployment and management of Kubernetes clusters to simplify the provisioning, operations, and lifecycle management of cloud-native environments; and Nutanix Clusters solution.

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