Nutanix (NASDAQ:NTNX) Upgraded at StockNews.com

Nutanix (NASDAQ:NTNX) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Thursday.

A number of other research analysts have also recently commented on NTNX. Royal Bank of Canada upped their price objective on Nutanix from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Barclays upped their price objective on Nutanix from $75.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday. Wells Fargo & Company upped their price objective on Nutanix from $60.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday. Needham & Company LLC upped their price objective on Nutanix from $80.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Northland Securities reiterated a “market perform” rating and issued a $77.00 price objective (up from $74.00) on shares of Nutanix in a report on Wednesday. Three investment 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $78.86.

Nutanix Stock Down 7.8 %

Shares of Nutanix stock traded down $5.65 on Thursday, hitting $66.70. 7,735,697 shares of the company were exchanged, compared to its average volume of 2,582,859. The stock has a market capitalization of $17.69 billion, a price-to-earnings ratio of -128.27, a price-to-earnings-growth ratio of 12.05 and a beta of 1.17. The company has a 50-day moving average price of $64.79 and a 200 day moving average price of $59.45. Nutanix has a 1-year low of $40.44 and a 1-year high of $75.80.

Nutanix (NASDAQ:NTNX) last issued its earnings results on Wednesday, August 28th. The technology company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.02. The business had revenue of $547.95 million for the quarter, compared to analysts’ expectations of $537.12 million. Nutanix had a negative return on equity of 7.57% and a negative net margin of 5.81%. Research analysts forecast that Nutanix will post 0.31 EPS for the current year.

Insider Transactions at Nutanix

In other news, COO David Sangster sold 11,950 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $59.83, for a total transaction of $714,968.50. Following the sale, the chief operating officer now owns 123,868 shares of the company’s stock, valued at approximately $7,411,022.44. This represents a 8.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Rukmini Sivaraman sold 24,316 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $58.85, for a total value of $1,430,996.60. Following the completion of the transaction, the chief financial officer now directly owns 192,169 shares in the company, valued at $11,309,145.65. This trade represents a 11.23 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Nutanix

Several large investors have recently bought and sold shares of the business. Tidal Investments LLC increased its holdings in Nutanix by 4.0% in the third quarter. Tidal Investments LLC now owns 22,297 shares of the technology company’s stock valued at $1,321,000 after buying an additional 862 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Nutanix in the third quarter valued at $111,000. Sanctuary Advisors LLC purchased a new position in Nutanix in the third quarter valued at $555,000. Geode Capital Management LLC increased its holdings in Nutanix by 0.5% in the third quarter. Geode Capital Management LLC now owns 4,147,126 shares of the technology company’s stock valued at $245,968,000 after buying an additional 22,091 shares during the last quarter. Finally, Groupama Asset Managment increased its holdings in Nutanix by 1.0% in the third quarter. Groupama Asset Managment now owns 707,000 shares of the technology company’s stock valued at $41,890,000 after buying an additional 7,000 shares during the last quarter. Hedge funds and other 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.