Nutanix (NASDAQ:NTNX) Coverage Initiated by Analysts at KeyCorp

KeyCorp began coverage on shares of Nutanix (NASDAQ:NTNX) in a research note published on Thursday, MarketBeat.com reports. The firm issued an overweight rating and a $95.00 price target on the technology company’s stock.

A number of other equities research analysts also recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on Nutanix from $83.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Northland Capmk raised Nutanix from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 27th. Royal Bank Of Canada lifted their price target on Nutanix from $83.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. Northland Securities upgraded shares of Nutanix from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $77.00 to $97.00 in a research report on Thursday, February 27th. Finally, Wells Fargo & Company raised their target price on shares of Nutanix from $75.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, February 27th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $90.71.

Nutanix Stock Up 2.5%

NTNX stock opened at $75.28 on Thursday. The stock has a 50-day simple moving average of $74.19 and a two-hundred day simple moving average of $69.59. Nutanix has a twelve month low of $43.35 and a twelve month high of $83.36. The firm has a market capitalization of $20.18 billion, a PE ratio of -268.86, a PEG ratio of 6.67 and a beta of 0.69.

Nutanix (NASDAQ:NTNX) last released its quarterly earnings data on Wednesday, June 4th. The technology company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.04. The company had revenue of $638.98 million during the quarter, compared to analyst estimates of $626.12 million. Nutanix had a net margin of 0.97% and a negative return on equity of 21.32%. Nutanix’s revenue was up 21.8% compared to the same quarter last year. During the same period last year, the business earned $0.28 earnings per share. On average, equities research analysts anticipate that Nutanix will post 0.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other Nutanix news, CEO Rajiv Ramaswami sold 61,057 shares of the firm’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $79.00, for a total value of $4,823,503.00. Following the sale, the chief executive officer now owns 497,309 shares of the company’s stock, valued at $39,287,411. This trade represents a 10.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Virginia Gambale sold 7,000 shares of the business’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $78.00, for a total transaction of $546,000.00. Following the completion of the transaction, the director now owns 38,330 shares in the company, valued at $2,989,740. The trade was a 15.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,550,624 shares of company stock valued at $426,476,906 over the last three months. Insiders own 6.80% of the company’s stock.

Institutional Trading of Nutanix

Institutional investors have recently modified their holdings of the company. Principal Securities Inc. lifted its holdings in Nutanix by 52.4% in the 4th quarter. Principal Securities Inc. now owns 579 shares of the technology company’s stock worth $35,000 after buying an additional 199 shares during the period. Principal Financial Group Inc. increased its stake in shares of Nutanix by 32.4% during the fourth quarter. Principal Financial Group Inc. now owns 23,154 shares of the technology company’s stock valued at $1,417,000 after buying an additional 5,664 shares during the period. Sanctuary Advisors LLC raised its holdings in shares of Nutanix by 3.5% during the fourth quarter. Sanctuary Advisors LLC now owns 9,698 shares of the technology company’s stock valued at $593,000 after acquiring an additional 325 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in Nutanix by 2,463.6% in the fourth quarter. Los Angeles Capital Management LLC now owns 209,546 shares of the technology company’s stock worth $12,820,000 after acquiring an additional 201,372 shares during the period. Finally, Simmons Bank boosted its holdings in Nutanix by 64.5% in the fourth quarter. Simmons Bank now owns 7,075 shares of the technology company’s stock valued at $433,000 after acquiring an additional 2,775 shares in the last quarter. 85.25% of the stock is currently owned by hedge funds and other institutional investors.

About Nutanix

Nutanix, Inc engages in the provision of a cloud platform leveraging web-scale engineering and consumer-grade design. It operates through the following geographic segments: United States, Europe, the Middle East, Africa, Asia Pacific, and Other Americas. The firm also provides software solutions and cloud services to customers’ enterprise infrastructure.