Nutanix (NASDAQ:NTNX) PT Raised to $75.00

Nutanix (NASDAQ:NTNX) had its target price increased by stock analysts at Royal Bank of Canada from $70.00 to $75.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 21.10% from the company’s current price.

NTNX has been the topic of a number of other reports. Bank of America upped their price target on shares of Nutanix from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $80.00 price target on shares of Nutanix in a research note on Thursday. Raymond James increased their price objective on Nutanix from $76.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday. Morgan Stanley lifted their target price on Nutanix from $62.00 to $71.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. increased their price target on Nutanix from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.08.

Nutanix Stock Performance

NASDAQ NTNX traded up $9.64 during trading on Thursday, hitting $61.93. The stock had a trading volume of 1,945,401 shares, compared to its average volume of 2,664,601. Nutanix has a one year low of $30.26 and a one year high of $73.69. The stock has a 50 day simple moving average of $52.47 and a 200 day simple moving average of $58.65. The stock has a market capitalization of $15.27 billion, a price-to-earnings ratio of -882.57, a P/E/G ratio of 4.45 and a beta of 1.16.

Nutanix (NASDAQ:NTNX) last issued its quarterly earnings results on Wednesday, August 28th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. Nutanix had a negative return on equity of 7.74% and a negative net margin of 0.57%. The firm had revenue of $547.95 million during the quarter, compared to analyst estimates of $537.12 million. On average, sell-side analysts predict that Nutanix will post 0.12 EPS for the current year.

Insider Buying and Selling at Nutanix

In related news, CFO Rukmini Sivaraman sold 12,566 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $53.22, for a total transaction of $668,762.52. Following the completion of the transaction, the chief financial officer now owns 144,902 shares in the company, valued at approximately $7,711,684.44. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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. Also, CEO Rajiv Ramaswami sold 23,986 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 value of $1,299,801.34. Following the transaction, the chief executive officer now directly owns 407,045 shares in the company, valued at $22,057,768.55. 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 Investors Weigh In On Nutanix

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Nutanix by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 25,087,143 shares of the technology company’s stock valued at $1,548,378,000 after purchasing an additional 346,414 shares during the last quarter. Generation Investment Management LLP increased its stake in Nutanix by 1.8% during the 4th quarter. Generation Investment Management LLP now owns 17,257,588 shares of the technology company’s stock valued at $823,014,000 after purchasing an additional 300,942 shares in the last quarter. FIL Ltd raised its holdings in shares of Nutanix by 74.7% in the fourth quarter. FIL Ltd now owns 8,908,166 shares of the technology company’s stock worth $424,830,000 after buying an additional 3,809,981 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Nutanix by 29.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,358,768 shares of the technology company’s stock worth $269,024,000 after buying an additional 985,421 shares during the period. Finally, Jericho Capital Asset Management L.P. grew its holdings in shares of Nutanix by 13.1% during the first quarter. Jericho Capital Asset Management L.P. now owns 3,988,923 shares of the technology company’s stock valued at $246,196,000 after buying an additional 462,000 shares during the last quarter. Hedge funds and other institutional investors own 85.25% of the company’s stock.

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.