Wells Fargo & Company Issues Positive Forecast for Nutanix (NASDAQ:NTNX) Stock Price

Nutanix (NASDAQ:NTNX) had its target price boosted by Wells Fargo & Company from $60.00 to $75.00 in a research report released on Wednesday,Benzinga reports. They currently have an equal weight rating on the technology company’s stock.

Several other research analysts have also issued reports on the stock. Barclays raised their target price on shares of Nutanix from $75.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday. Morgan Stanley raised their price objective on shares of Nutanix from $72.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday. Royal Bank of Canada upped their target price on shares of Nutanix from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Needham & Company LLC increased their price target on Nutanix from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. lifted their price objective on Nutanix from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Nutanix currently has an average rating of “Moderate Buy” and a consensus target price of $78.86.

Nutanix Stock Performance

Shares of NTNX opened at $65.28 on Wednesday. The firm has a market capitalization of $17.31 billion, a price-to-earnings ratio of -186.51, a PEG ratio of 11.04 and a beta of 1.17. Nutanix has a 52 week low of $42.22 and a 52 week high of $75.80. The business’s fifty day moving average price is $64.88 and its two-hundred day moving average price is $59.40.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings data on Wednesday, August 28th. The technology company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The firm had revenue of $547.95 million during the quarter, compared to analyst estimates of $537.12 million. Nutanix had a negative return on equity of 12.43% and a negative net margin of 3.54%. As a group, research analysts forecast that Nutanix will post 0.31 EPS for the current year.

Insider Transactions at Nutanix

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Bain Capital Investors LLC bought a new stake in Nutanix in the 3rd quarter valued at approximately $998,601,000. Driehaus Capital Management LLC raised its holdings in shares of Nutanix by 123.9% in the second quarter. Driehaus Capital Management LLC now owns 1,435,230 shares of the technology company’s stock valued at $81,593,000 after purchasing an additional 794,215 shares during the last quarter. Two Sigma Advisers LP lifted its position in shares of Nutanix by 32.8% in the third quarter. Two Sigma Advisers LP now owns 2,814,002 shares of the technology company’s stock worth $166,730,000 after purchasing an additional 695,567 shares in the last quarter. Marshall Wace LLP boosted its holdings in Nutanix by 47.5% during the second quarter. Marshall Wace LLP now owns 1,482,989 shares of the technology company’s stock worth $84,308,000 after purchasing an additional 477,838 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in Nutanix by 15.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,816,647 shares of the technology company’s stock valued at $166,886,000 after purchasing an additional 374,328 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.