Morgan Stanley upgraded shares of Nutanix (NASDAQ:NTNX – Free Report) from an equal weight rating to an overweight rating in a research note released on Monday, MarketBeat reports. They currently have $72.00 price target on the technology company’s stock, up from their prior price target of $71.00.
Several other analysts also recently commented on the company. Royal Bank of Canada raised their target price on Nutanix from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Raymond James boosted their price target on shares of Nutanix from $76.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Barclays upped their price objective on shares of Nutanix from $71.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. lifted their target price on Nutanix from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Finally, Piper Sandler lifted their price objective on Nutanix from $76.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $73.38.
Read Our Latest Stock Report on NTNX
Nutanix Price Performance
Nutanix (NASDAQ:NTNX – Get Free Report) last posted its quarterly earnings data on Wednesday, August 28th. The technology company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. Nutanix had a negative return on equity of 7.57% and a negative net margin of 5.81%. The company had revenue of $547.95 million for the quarter, compared to analyst estimates of $537.12 million. Equities analysts anticipate that Nutanix will post 0.27 EPS for the current year.
Insider Transactions at Nutanix
In other news, CFO Rukmini Sivaraman sold 24,316 shares of Nutanix stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $58.85, for a total value of $1,430,996.60. Following the sale, the chief financial officer now directly owns 192,169 shares in the company, valued at approximately $11,309,145.65. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO David Sangster sold 11,950 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $59.83, for a total value of $714,968.50. Following the sale, the chief operating officer now directly owns 123,868 shares of the company’s stock, valued at approximately $7,411,022.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Rukmini Sivaraman sold 24,316 shares of Nutanix stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $58.85, for a total transaction 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 $11,309,145.65. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.80% of the company’s stock.
Institutional Trading of Nutanix
Institutional investors and hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC boosted its holdings in shares of Nutanix by 2.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 18,433 shares of the technology company’s stock worth $1,138,000 after buying an additional 369 shares during the last quarter. First Trust Direct Indexing L.P. bought a new stake in Nutanix in the first quarter worth $230,000. Maryland State Retirement & Pension System raised its position in Nutanix by 5.6% in the 1st quarter. Maryland State Retirement & Pension System now owns 19,060 shares of the technology company’s stock worth $1,152,000 after purchasing an additional 1,007 shares during the period. Principal Financial Group Inc. boosted its holdings in Nutanix by 22.8% during the 1st quarter. Principal Financial Group Inc. now owns 21,521 shares of the technology company’s stock valued at $1,328,000 after acquiring an additional 3,990 shares during the period. Finally, Commonwealth Equity Services LLC increased its stake in Nutanix by 10.0% in the 1st quarter. Commonwealth Equity Services LLC now owns 10,182 shares of the technology company’s stock worth $628,000 after buying an additional 928 shares during the period. Institutional investors own 85.25% of the company’s stock.
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.
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