Nutanix (NASDAQ:NTNX) Price Target Raised to $75.00

Nutanix (NASDAQ:NTNX) had its target price raised by investment analysts at Wells Fargo & Company from $60.00 to $75.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 10.73% from the company’s previous close.

A number of other equities analysts also recently commented on NTNX. Royal Bank of Canada boosted their target price on shares of Nutanix from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Raymond James increased their target price on shares of Nutanix from $76.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Northland Securities restated a “market perform” rating and issued a $77.00 target price (up from $74.00) on shares of Nutanix in a research note on Wednesday. Barclays increased their price objective on Nutanix from $75.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Needham & Company LLC upped their target price on Nutanix from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $78.86.

Nutanix Price Performance

NTNX stock traded down $4.62 during mid-day trading on Wednesday, reaching $67.73. The company had a trading volume of 4,045,551 shares, compared to its average volume of 2,566,458. The firm has a 50 day moving average of $64.45 and a 200 day moving average of $59.35. Nutanix has a 12 month low of $40.44 and a 12 month high of $75.80. The company has a market capitalization of $17.96 billion, a PE ratio of -130.25, a price-to-earnings-growth ratio of 12.05 and a beta of 1.17.

Nutanix (NASDAQ:NTNX) last released its quarterly earnings data on Wednesday, August 28th. The technology company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.02. Nutanix had a negative return on equity of 7.57% and a negative net margin of 5.81%. The firm had revenue of $547.95 million during the quarter, compared to the consensus estimate of $537.12 million. Analysts anticipate that Nutanix will post 0.31 EPS for the current year.

Insider Buying and Selling at Nutanix

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

Hedge Funds Weigh In On Nutanix

A number of large investors have recently bought and sold shares of NTNX. Bain Capital Investors LLC acquired a new position in Nutanix during the third quarter worth $998,601,000. Champlain Investment Partners LLC increased its stake in shares of Nutanix by 3.7% during the third quarter. Champlain Investment Partners LLC now owns 5,989,319 shares of the technology company’s stock worth $354,867,000 after purchasing an additional 215,363 shares in the last quarter. Geode Capital Management LLC lifted its stake in Nutanix by 0.5% in the 3rd 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 in the last quarter. Renaissance Technologies LLC boosted its holdings in Nutanix by 7.4% in the 2nd quarter. Renaissance Technologies LLC now owns 3,738,756 shares of the technology company’s stock worth $212,548,000 after buying an additional 256,156 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in Nutanix by 15.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,816,647 shares of the technology company’s stock worth $166,886,000 after buying an additional 374,328 shares in the last quarter. 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.