Nutanix (NASDAQ:NTNX) PT Raised to $29.00

Nutanix (NASDAQ:NTNXGet Rating) had its target price raised by Barclays to $29.00 in a research report released on Monday morning, Stock Target Advisor reports.

Other analysts have also issued reports about the company. Northland Securities increased their target price on Nutanix to $34.00 in a report on Tuesday, September 6th. StockNews.com began coverage on Nutanix in a report on Wednesday, October 12th. They set a hold rating on the stock. Susquehanna Bancshares upped their price objective on Nutanix to $30.00 in a research report on Tuesday, September 6th. Piper Sandler upped their price objective on Nutanix from $25.00 to $29.00 in a research report on Thursday, September 1st. Finally, The Goldman Sachs Group upped their price objective on Nutanix to $21.00 in a research report on Tuesday, September 6th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $27.67.

Nutanix Price Performance

Shares of NASDAQ NTNX opened at $28.76 on Monday. The stock’s fifty day moving average price is $25.03 and its two-hundred day moving average price is $20.08. Nutanix has a one year low of $13.44 and a one year high of $35.56. The firm has a market cap of $6.53 billion, a price-to-earnings ratio of -7.88 and a beta of 1.24.

Nutanix (NASDAQ:NTNXGet Rating) last released its earnings results on Wednesday, August 31st. The technology company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.21. The company had revenue of $385.50 million for the quarter, compared to analyst estimates of $356.14 million. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period last year, the company posted ($0.68) earnings per share. On average, equities analysts anticipate that Nutanix will post -1.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Nutanix

In other Nutanix news, COO David Sangster sold 24,085 shares of the stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $22.93, for a total value of $552,269.05. Following the completion of the transaction, the chief operating officer now directly owns 199,763 shares in the company, valued at $4,580,565.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Nutanix news, COO David Sangster sold 24,085 shares of the stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $22.93, for a total value of $552,269.05. Following the completion of the transaction, the chief operating officer now directly owns 199,763 shares in the company, valued at $4,580,565.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Rajiv Ramaswami sold 5,000 shares of the stock in a transaction dated Tuesday, September 20th. The shares were sold at an average price of $22.90, for a total value of $114,500.00. Following the completion of the transaction, the chief executive officer now owns 267,576 shares of the company’s stock, valued at $6,127,490.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 112,852 shares of company stock worth $2,587,546. 0.43% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nutanix

Several institutional investors and hedge funds have recently made changes to their positions in NTNX. Primecap Management Co. CA increased its stake in shares of Nutanix by 46.1% in the second quarter. Primecap Management Co. CA now owns 6,128,885 shares of the technology company’s stock valued at $89,666,000 after buying an additional 1,933,150 shares during the period. Vanguard Group Inc. increased its stake in shares of Nutanix by 5.0% in the first quarter. Vanguard Group Inc. now owns 23,344,292 shares of the technology company’s stock valued at $626,094,000 after buying an additional 1,116,856 shares during the period. Solel Partners LP acquired a new stake in shares of Nutanix in the third quarter valued at about $22,163,000. Marshall Wace LLP increased its stake in shares of Nutanix by 146.9% in the third quarter. Marshall Wace LLP now owns 1,727,700 shares of the technology company’s stock valued at $35,987,000 after buying an additional 1,027,866 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of Nutanix by 6,627.1% in the first quarter. Wellington Management Group LLP now owns 991,370 shares of the technology company’s stock valued at $26,589,000 after buying an additional 976,633 shares during the period. Institutional investors and hedge funds own 77.48% of the company’s stock.

About Nutanix

(Get Rating)

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.

Further Reading

Analyst Recommendations for Nutanix (NASDAQ:NTNX)

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