Brokerages Set Nutanix, Inc. (NASDAQ:NTNX) PT at $65.17

Nutanix, Inc. (NASDAQ:NTNX) has received a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $65.69.

A number of research analysts have recently issued reports on the company. Royal Bank of Canada upped their price target on Nutanix from $68.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Morgan Stanley raised their price target on shares of Nutanix from $58.00 to $63.00 and gave the company an “equal weight” rating in a report on Wednesday, March 27th. Bank of America boosted their price objective on shares of Nutanix from $55.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, February 29th. StockNews.com cut shares of Nutanix from a “strong-buy” rating to a “buy” rating in a report on Friday, January 12th. Finally, Raymond James upgraded shares of Nutanix from a “market perform” rating to an “outperform” rating and set a $72.00 target price for the company in a research note on Wednesday.

Insiders Place Their Bets

In other news, CFO Rukmini Sivaraman sold 53,029 shares of the business’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $64.77, for a total value of $3,434,688.33. Following the transaction, the chief financial officer now owns 144,635 shares of the company’s stock, valued at $9,368,008.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Rukmini Sivaraman sold 53,029 shares of the firm’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $64.77, for a total transaction of $3,434,688.33. Following the completion of the transaction, the chief financial officer now directly owns 144,635 shares of the company’s stock, valued at $9,368,008.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven J. Gomo sold 25,000 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $64.11, for a total transaction of $1,602,750.00. Following the completion of the sale, the director now owns 3,962 shares in the company, valued at approximately $254,003.82. The disclosure for this sale can be found here. Insiders sold a total of 129,506 shares of company stock worth $8,270,938 over the last three months. 0.46% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nutanix

Institutional investors have recently added to or reduced their stakes in the company. Atlantic Edge Private Wealth Management LLC purchased a new position in shares of Nutanix in the fourth quarter valued at $29,000. GAMMA Investing LLC purchased a new stake in shares of Nutanix during the 4th quarter valued at about $30,000. BluePath Capital Management LLC bought a new position in shares of Nutanix in the 3rd quarter valued at about $31,000. Kapitalo Investimentos Ltda purchased a new position in Nutanix in the fourth quarter worth about $37,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in Nutanix during the fourth quarter worth approximately $40,000. Hedge funds and other institutional investors own 85.25% of the company’s stock.

Nutanix Stock Performance

NASDAQ:NTNX opened at $67.58 on Friday. The firm has a 50-day simple moving average of $63.13 and a two-hundred day simple moving average of $53.06. The firm has a market cap of $16.51 billion, a P/E ratio of -187.72 and a beta of 1.27. Nutanix has a fifty-two week low of $24.08 and a fifty-two week high of $67.87.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.17 earnings per share for the quarter. The firm had revenue of $565.23 million during the quarter, compared to analysts’ expectations of $551.82 million. On average, equities research analysts predict that Nutanix will post -0.04 EPS for the current year.

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.