Nutanix, Inc. (NASDAQ:NTNX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Nutanix, Inc. (NASDAQ:NTNX) have received a consensus rating of “Moderate Buy” from the fifteen ratings firms that are currently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $72.00.

NTNX has been the subject of a number of analyst reports. Morgan Stanley cut their price target on shares of Nutanix from $72.00 to $62.00 and set an “equal weight” rating for the company in a research note on Friday. Piper Sandler boosted their price target on Nutanix from $67.00 to $76.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Northland Capmk lowered Nutanix from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 30th. Royal Bank of Canada boosted their target price on shares of Nutanix from $72.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, May 29th. Finally, Northland Securities cut shares of Nutanix from an “outperform” rating to a “market perform” rating and set a $71.00 target price for the company. in a research report on Thursday, May 30th.

Nutanix Stock Performance

Shares of NTNX stock opened at $53.40 on Friday. The firm has a fifty day moving average of $61.59 and a 200-day moving average of $57.90. The stock has a market cap of $13.17 billion, a price-to-earnings ratio of -762.86, a P/E/G ratio of 14.35 and a beta of 1.10. Nutanix has a 52-week low of $26.47 and a 52-week high of $73.69.

Insider Activity

In other news, CFO Rukmini Sivaraman sold 12,566 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $53.22, for a total transaction of $668,762.52. Following the transaction, the chief financial officer now owns 144,902 shares of the company’s stock, valued at $7,711,684.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Rukmini Sivaraman sold 12,566 shares of Nutanix stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $53.22, for a total transaction of $668,762.52. Following the completion of the sale, the chief financial officer now directly owns 144,902 shares of the company’s stock, valued at $7,711,684.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Rajiv Ramaswami sold 23,986 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $54.19, for a total value of $1,299,801.34. Following the completion of the sale, the chief executive officer now directly owns 407,045 shares of the company’s stock, valued at $22,057,768.55. The disclosure for this sale can be found here. In the last ninety days, insiders sold 99,965 shares of company stock valued at $5,965,961. Company insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On Nutanix

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Nutanix by 1.4% in the first quarter. Vanguard Group Inc. now owns 25,087,143 shares of the technology company’s stock valued at $1,548,378,000 after acquiring an additional 346,414 shares during the period. Generation Investment Management LLP grew its position in shares of Nutanix by 1.8% in 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 during the period. FIL Ltd increased its stake in Nutanix by 74.7% during the 4th quarter. FIL Ltd now owns 8,908,166 shares of the technology company’s stock worth $424,830,000 after purchasing an additional 3,809,981 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Nutanix by 29.2% during the 1st 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. lifted its stake in Nutanix by 13.1% in 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 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.