Nutanix (NASDAQ:NTNX) PT Raised to $63.00

Nutanix (NASDAQ:NTNXFree Report) had its price objective boosted by Morgan Stanley from $58.00 to $63.00 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the technology company’s stock.

Several other research analysts have also recently commented on the stock. Susquehanna boosted their price target on shares of Nutanix from $48.00 to $60.00 and gave the stock a positive rating in a report on Friday, December 1st. JMP Securities boosted their target price on shares of Nutanix from $50.00 to $70.00 and gave the stock a market outperform rating in a research note on Monday, February 5th. Wells Fargo & Company raised their price target on Nutanix from $35.00 to $42.00 and gave the company an equal weight rating in a research note on Thursday, November 30th. JPMorgan Chase & Co. increased their price objective on Nutanix from $54.00 to $65.00 and gave the company an overweight rating in a report on Monday, February 26th. Finally, KeyCorp boosted their target price on Nutanix from $68.00 to $69.00 and gave the stock an overweight rating in a research note on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $63.92.

Check Out Our Latest Stock Analysis on NTNX

Nutanix Trading Down 2.8 %

NASDAQ:NTNX opened at $61.93 on Wednesday. Nutanix has a 12-month low of $23.34 and a 12-month high of $66.99. The firm has a market cap of $15.13 billion, a PE ratio of -172.03 and a beta of 1.29. The stock has a fifty day moving average price of $59.73 and a 200 day moving average price of $47.38.

Nutanix (NASDAQ:NTNXGet Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.17 earnings per share (EPS) for the quarter. The company had revenue of $565.23 million during the quarter, compared to analysts’ expectations of $551.82 million. Equities analysts forecast that Nutanix will post -0.07 EPS for the current year.

Insider Activity

In related news, insider Tyler Wall sold 15,000 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $62.25, for a total transaction of $933,750.00. Following the completion of the sale, the insider now owns 13,168 shares in the company, valued at approximately $819,708. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Tyler Wall sold 15,000 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $62.25, for a total transaction of $933,750.00. Following the completion of the sale, the insider now directly owns 13,168 shares of the company’s stock, valued at $819,708. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO David Sangster sold 12,545 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $63.04, for a total transaction of $790,836.80. Following the completion of the transaction, the chief operating officer now directly owns 70,192 shares in the company, valued at $4,424,903.68. The disclosure for this sale can be found here. Insiders have sold 76,477 shares of company stock valued at $4,836,249 in the last ninety days. 0.46% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Nutanix

Institutional investors and hedge funds have recently modified their holdings of the company. FIL Ltd grew its holdings 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 purchasing an additional 3,809,981 shares during the last quarter. Norges Bank acquired a new stake in shares of Nutanix during the 4th quarter worth about $137,465,000. Jericho Capital Asset Management L.P. purchased a new stake in shares of Nutanix during the third quarter worth about $82,421,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Nutanix by 86.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,373,347 shares of the technology company’s stock worth $160,876,000 after purchasing an additional 1,567,417 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Nutanix by 5.0% during the 1st quarter. Vanguard Group Inc. now owns 23,344,292 shares of the technology company’s stock valued at $626,094,000 after acquiring an additional 1,116,856 shares during the last quarter. Institutional investors and hedge funds own 85.25% of the company’s stock.

Nutanix Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Nutanix (NASDAQ:NTNX)

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