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

Shares of Nutanix, Inc. (NASDAQ:NTNX) have received a consensus rating of “Moderate Buy” from the sixteen research firms that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $73.86.

A number of research firms recently commented on NTNX. Piper Sandler boosted their price target on Nutanix from $76.00 to $77.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Bank of America raised their target price on shares of Nutanix from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Morgan Stanley upgraded shares of Nutanix from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $71.00 to $72.00 in a research note on Monday, October 28th. Raymond James raised their price target on Nutanix from $76.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Finally, Oppenheimer began coverage on Nutanix in a report on Wednesday, November 13th. They set an “outperform” rating and a $80.00 price objective on the stock.

Insider Buying and Selling

In other news, CFO Rukmini Sivaraman sold 24,316 shares of the stock in a transaction on 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 transaction, the chief financial officer now owns 192,169 shares of the company’s stock, valued at approximately $11,309,145.65. This represents a 11.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO David Sangster sold 11,950 shares of the firm’s 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 transaction, the chief operating officer now owns 123,868 shares in the company, valued at approximately $7,411,022.44. This represents a 8.80 % decrease in their position. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by insiders.

Institutional Trading of Nutanix

A number of hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its position in shares of Nutanix by 0.5% during the third 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 during the last quarter. Groupama Asset Managment lifted its position in Nutanix by 1.0% during the third quarter. Groupama Asset Managment now owns 707,000 shares of the technology company’s stock valued at $41,890,000 after acquiring an additional 7,000 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Nutanix during the 3rd quarter valued at $2,690,000. Main Management ETF Advisors LLC purchased a new position in shares of Nutanix in the 3rd quarter valued at approximately $1,012,000. Finally, XTX Topco Ltd acquired a new stake in shares of Nutanix during the third quarter worth $2,810,000. Hedge funds and other institutional investors own 85.25% of the company’s stock.

Nutanix Trading Down 1.4 %

NASDAQ NTNX opened at $68.55 on Tuesday. The stock has a market cap of $18.18 billion, a price-to-earnings ratio of -131.83, a PEG ratio of 13.22 and a beta of 1.17. Nutanix has a 12 month low of $39.15 and a 12 month high of $73.69. The company’s 50 day moving average is $62.90 and its two-hundred day moving average is $59.07.

Nutanix (NASDAQ:NTNX) last released its earnings results on Wednesday, August 28th. The technology company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. Nutanix had a negative net margin of 5.81% and a negative return on equity of 7.57%. The company had revenue of $547.95 million for the quarter, compared to analysts’ expectations of $537.12 million. Sell-side analysts forecast that Nutanix will post 0.27 EPS for the current year.

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.