Nutanix (NASDAQ:NTNX) Earns “Market Perform” Rating from Northland Securities

Nutanix (NASDAQ:NTNX)‘s stock had its “market perform” rating reissued by equities research analysts at Northland Securities in a note issued to investors on Wednesday,Benzinga reports. They currently have a $77.00 target price on the technology company’s stock, up from their prior target price of $74.00. Northland Securities’ price target indicates a potential upside of 15.44% from the stock’s current price.

A number of other brokerages have also issued reports on NTNX. Raymond James increased their price target on Nutanix from $76.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Bank of America lifted their target price on Nutanix from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Royal Bank of Canada upped their price target on shares of Nutanix from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Oppenheimer began coverage on shares of Nutanix in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $80.00 price objective on the stock. Finally, Piper Sandler increased their target price on shares of Nutanix from $76.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $78.86.

Nutanix Stock Down 7.8 %

Shares of NTNX opened at $66.70 on Wednesday. The firm has a market capitalization of $17.69 billion, a PE ratio of -128.27, a P/E/G ratio of 12.05 and a beta of 1.17. The firm has a 50-day moving average price of $64.79 and a 200 day moving average price of $59.45. Nutanix has a 52-week low of $40.44 and a 52-week high of $75.80.

Nutanix (NASDAQ:NTNX) last posted its quarterly earnings data on Wednesday, August 28th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $547.95 million during the quarter, compared to analysts’ expectations of $537.12 million. On average, equities analysts expect that Nutanix will post 0.31 EPS for the current year.

Insider Buying and Selling

In other news, CFO Rukmini Sivaraman sold 24,316 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were 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 directly owns 192,169 shares in the company, valued at $11,309,145.65. The trade was a 11.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO David Sangster sold 11,950 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $59.83, for a total value of $714,968.50. Following the sale, the chief operating officer now owns 123,868 shares of the company’s stock, valued at approximately $7,411,022.44. This represents a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NTNX. Tidal Investments LLC lifted its holdings in shares of Nutanix by 4.0% during the 3rd quarter. Tidal Investments LLC now owns 22,297 shares of the technology company’s stock valued at $1,321,000 after buying an additional 862 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Nutanix in the third quarter valued at approximately $111,000. Sanctuary Advisors LLC bought a new stake in Nutanix in the third quarter worth approximately $555,000. Geode Capital Management LLC increased its stake in shares of Nutanix by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,147,126 shares of the technology company’s stock worth $245,968,000 after purchasing an additional 22,091 shares during the last quarter. Finally, Groupama Asset Managment raised its holdings in shares of Nutanix by 1.0% during the 3rd quarter. Groupama Asset Managment now owns 707,000 shares of the technology company’s stock valued at $41,890,000 after purchasing an additional 7,000 shares in the last quarter. 85.25% of the stock is owned by institutional investors and hedge funds.

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.