Bank of America Lowers Nutanix (NASDAQ:NTNX) Price Target to $72.00

Nutanix (NASDAQ:NTNX) had its target price cut by investment analysts at Bank of America from $75.00 to $72.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Bank of America‘s target price suggests a potential upside of 36.78% from the stock’s current price.

NTNX has been the subject of a number of other reports. Royal Bank of Canada lifted their price objective on shares of Nutanix from $72.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, May 29th. Northland Capmk downgraded shares of Nutanix from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 30th. Raymond James increased their target price on shares of Nutanix from $72.00 to $76.00 and gave the stock an “outperform” rating in a report on Thursday, May 30th. Needham & Company LLC lifted their price objective on Nutanix from $72.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Finally, Northland Securities downgraded Nutanix from an “outperform” rating to a “market perform” rating and set a $71.00 target price on the stock. in a report on Thursday, May 30th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $71.85.

Nutanix Trading Down 0.7 %

Shares of NASDAQ:NTNX traded down $0.39 during mid-day trading on Wednesday, hitting $52.64. 543,949 shares of the company traded hands, compared to its average volume of 2,684,044. The stock has a market cap of $12.98 billion, a P/E ratio of -750.86, a P/E/G ratio of 4.45 and a beta of 1.16. The stock has a 50-day moving average price of $52.57 and a two-hundred day moving average price of $58.86. Nutanix has a 12-month low of $29.25 and a 12-month high of $73.69.

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

Insider Buying and Selling at Nutanix

In other Nutanix news, CFO Rukmini Sivaraman sold 12,566 shares of Nutanix stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $53.22, for a total value of $668,762.52. Following the transaction, the chief financial officer now directly owns 144,902 shares of the company’s stock, valued at $7,711,684.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Rajiv Ramaswami sold 23,986 shares of Nutanix stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $54.19, for a total transaction of $1,299,801.34. Following the completion of the sale, the chief executive officer now owns 407,045 shares of the company’s stock, valued at $22,057,768.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Rukmini Sivaraman sold 12,566 shares of Nutanix stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $53.22, for a total value of $668,762.52. Following the transaction, the chief financial officer now owns 144,902 shares of the company’s stock, valued at approximately $7,711,684.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,936 shares of company stock valued at $2,531,273. 0.46% of the stock is currently owned by insiders.

Institutional Trading of Nutanix

Several institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC lifted its stake in Nutanix by 7,970.6% during the 4th quarter. International Assets Investment Management LLC now owns 103,869 shares of the technology company’s stock worth $4,954,000 after acquiring an additional 102,582 shares in the last quarter. Cerity Partners LLC acquired a new stake in shares of Nutanix during the fourth quarter worth $236,000. Xponance Inc. boosted its holdings in shares of Nutanix by 6.0% in the fourth quarter. Xponance Inc. now owns 14,690 shares of the technology company’s stock valued at $701,000 after acquiring an additional 835 shares in the last quarter. CWM LLC increased its position in Nutanix by 31.9% during the 4th quarter. CWM LLC now owns 5,970 shares of the technology company’s stock worth $285,000 after purchasing an additional 1,443 shares during the period. Finally, Duality Advisers LP purchased a new position in Nutanix in the fourth quarter worth $1,268,000. Institutional investors and hedge funds 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.