Nutanix, Inc. (NASDAQ:NTNX) Receives $72.00 Average PT from Brokerages

Nutanix, Inc. (NASDAQ:NTNX) has received a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $72.00.

A number of research analysts have issued reports on the company. Raymond James boosted their price target on Nutanix from $72.00 to $76.00 and gave the stock an “outperform” rating in a research report on Thursday, May 30th. Northland Securities lowered Nutanix from an “outperform” rating to a “market perform” rating and set a $71.00 price target for the company. in a research report on Thursday, May 30th. Royal Bank of Canada boosted their price target on Nutanix from $72.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 29th. JPMorgan Chase & Co. upped their price objective on Nutanix from $70.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, May 24th. Finally, KeyCorp upped their price objective on Nutanix from $69.00 to $79.00 and gave the company an “overweight” rating in a report on Thursday, May 30th.

Insider Activity at Nutanix

In related news, COO David Sangster sold 10,384 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $54.19, for a total transaction of $562,708.96. Following the transaction, the chief operating officer now directly owns 64,333 shares of the company’s stock, valued at $3,486,205.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Nutanix news, CEO Rajiv Ramaswami sold 23,986 shares of the company’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $54.19, for a total value of $1,299,801.34. Following the transaction, the chief executive officer now directly owns 407,045 shares of the company’s stock, valued at approximately $22,057,768.55. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO David Sangster sold 10,384 shares of the company’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $54.19, for a total value of $562,708.96. Following the completion of the transaction, the chief operating officer now directly owns 64,333 shares in the company, valued at $3,486,205.27. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,936 shares of company stock valued at $2,531,273. Company insiders own 0.46% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Nutanix in the 2nd quarter worth about $25,000. Itau Unibanco Holding S.A. bought a new stake in Nutanix during the 2nd quarter valued at approximately $32,000. Atlantic Edge Private Wealth Management LLC bought a new stake in Nutanix during the 4th quarter valued at approximately $29,000. GAMMA Investing LLC bought a new stake in Nutanix during the 4th quarter valued at approximately $30,000. Finally, Kapitalo Investimentos Ltda bought a new stake in Nutanix during the 4th quarter valued at approximately $37,000. 85.25% of the stock is owned by institutional investors and hedge funds.

Nutanix Price Performance

Shares of NTNX opened at $51.89 on Friday. The company has a market cap of $12.80 billion, a P/E ratio of -741.29, a PEG ratio of 4.45 and a beta of 1.16. The stock has a fifty day moving average price of $52.61 and a 200 day moving average price of $58.92. Nutanix has a 12 month low of $29.25 and a 12 month high of $73.69.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings results on Wednesday, May 29th. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.12. Nutanix had a negative return on equity of 7.74% and a negative net margin of 0.57%. The company had revenue of $524.58 million during the quarter, compared to analyst estimates of $516.13 million. As a group, research analysts anticipate that Nutanix will post 0.12 earnings per share for the current year.

About Nutanix

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.