Nutanix (NASDAQ:NTNX) Receives Average Recommendation of “Moderate Buy” from Analysts

Nutanix (NASDAQ:NTNX) has been assigned an average rating of “Moderate Buy” from the sixteen brokerages that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $91.00.

A number of equities research analysts recently commented on the company. Needham & Company LLC reissued a “buy” rating and issued a $92.00 price target on shares of Nutanix in a research report on Thursday, May 29th. Susquehanna increased their price target on Nutanix from $90.00 to $95.00 and gave the company a “positive” rating in a research report on Thursday, May 29th. Morgan Stanley reissued an “overweight” rating and issued a $90.00 price target (up from $75.00) on shares of Nutanix in a research report on Tuesday, May 20th. The Goldman Sachs Group initiated coverage on Nutanix in a research note on Tuesday, July 15th. They issued a “buy” rating and a $95.00 price objective for the company. Finally, Wall Street Zen downgraded Nutanix from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 30th.

Insider Transactions at Nutanix

In other news, CEO Rajiv Ramaswami sold 61,057 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $79.00, for a total transaction of $4,823,503.00. Following the completion of the transaction, the chief executive officer owned 497,309 shares in the company, valued at approximately $39,287,411. This represents a 10.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Groen Max Pieter De sold 5,480,467 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $76.81, for a total value of $420,954,670.27. Following the transaction, the director owned 5,480,468 shares of the company’s stock, valued at $420,954,747.08. The trade was a 50.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,552,549 shares of company stock worth $426,621,281 over the last 90 days. 6.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. CWM LLC boosted its stake in Nutanix by 25.5% in the 2nd quarter. CWM LLC now owns 87,937 shares of the technology company’s stock worth $6,722,000 after purchasing an additional 17,888 shares during the period. OFI Invest Asset Management bought a new position in Nutanix in the 2nd quarter worth about $113,000. Vanguard Personalized Indexing Management LLC boosted its stake in Nutanix by 4.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 16,874 shares of the technology company’s stock worth $1,290,000 after purchasing an additional 692 shares during the period. Concurrent Investment Advisors LLC boosted its stake in Nutanix by 8.2% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 4,505 shares of the technology company’s stock worth $344,000 after purchasing an additional 342 shares during the period. Finally, waypoint wealth counsel bought a new position in Nutanix in the 2nd quarter worth about $299,000. Institutional investors own 85.25% of the company’s stock.

Nutanix Trading Up 0.9%

NASDAQ NTNX opened at $74.69 on Friday. The firm has a market capitalization of $20.02 billion, a P/E ratio of 152.43, a PEG ratio of 6.90 and a beta of 0.67. The business has a fifty day simple moving average of $75.75 and a 200 day simple moving average of $71.25. Nutanix has a 12 month low of $43.35 and a 12 month high of $83.36.

Nutanix (NASDAQ:NTNX) last released its quarterly earnings results 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 business had revenue of $638.98 million during the quarter, compared to analyst estimates of $626.12 million. Nutanix had a negative return on equity of 21.32% and a net margin of 0.97%. Nutanix’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.28 EPS. As a group, sell-side analysts predict that Nutanix will post 0.31 EPS for the current fiscal year.

Nutanix Company Profile

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.