Nutanix (NASDAQ:NTNX) Downgraded to Hold Rating by Wall Street Zen

Nutanix (NASDAQ:NTNX) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Several other research firms have also recently issued reports on NTNX. JPMorgan Chase & Co. lowered their price objective on Nutanix from $78.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, November 26th. Piper Sandler reiterated an “overweight” rating and set a $72.00 price target (down from $88.00) on shares of Nutanix in a research report on Wednesday, November 26th. Bank of America decreased their price objective on Nutanix from $93.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, November 26th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Nutanix in a research note on Monday. Finally, Morgan Stanley reduced their target price on shares of Nutanix from $90.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, November 26th. Thirteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $75.13.

Nutanix Stock Up 0.4%

Shares of Nutanix stock opened at $47.32 on Friday. The firm has a market cap of $12.72 billion, a PE ratio of 63.09, a P/E/G ratio of 5.01 and a beta of 0.53. Nutanix has a twelve month low of $46.12 and a twelve month high of $83.36. The business has a 50-day moving average price of $65.15 and a 200 day moving average price of $71.03.

Nutanix (NASDAQ:NTNX) last posted its quarterly earnings data on Tuesday, November 25th. The technology company reported $0.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.41. The company had revenue of $670.58 million during the quarter, compared to analysts’ expectations of $677.23 million. Nutanix had a net margin of 8.43% and a negative return on equity of 32.17%. The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 earnings per share. On average, sell-side analysts expect that Nutanix will post 0.31 EPS for the current year.

Insider Activity at Nutanix

In related news, Director Teresa Gayle Sheppard sold 3,500 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $76.48, for a total transaction of $267,680.00. Following the completion of the sale, the director directly owned 22,400 shares in the company, valued at approximately $1,713,152. This trade represents a 13.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rajiv Ramaswami sold 144,707 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $76.42, for a total transaction of $11,058,508.94. Following the sale, the chief executive officer owned 524,608 shares of the company’s stock, valued at $40,090,543.36. This represents a 21.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 159,598 shares of company stock valued at $12,218,560. 2.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Twin Tree Management LP acquired a new position in Nutanix during the first quarter worth $29,000. SouthState Corp acquired a new stake in shares of Nutanix during the first quarter worth about $32,000. Farther Finance Advisors LLC boosted its stake in shares of Nutanix by 42.6% in the second quarter. Farther Finance Advisors LLC now owns 502 shares of the technology company’s stock valued at $38,000 after purchasing an additional 150 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Nutanix in the second quarter valued at approximately $45,000. Finally, Banque Transatlantique SA purchased a new stake in Nutanix during the 1st quarter worth approximately $46,000. Hedge funds and other institutional investors own 85.25% of the company’s stock.

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.