Nutanix (NASDAQ:NTNX) Given New $78.00 Price Target at Morgan Stanley

Nutanix (NASDAQ:NTNX) had its price target increased by investment analysts at Morgan Stanley from $72.00 to $78.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Morgan Stanley’s target price points to a potential upside of 11.83% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the company. Barclays upped their price objective on Nutanix from $75.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday. Raymond James increased their price objective on Nutanix from $76.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Bank of America boosted their target price on Nutanix from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Piper Sandler lifted their price target on shares of Nutanix from $77.00 to $83.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Oppenheimer started coverage on shares of Nutanix in a research report on Wednesday, November 13th. They set an “outperform” rating and a $80.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $76.50.

Nutanix Stock Down 3.6 %

Shares of NASDAQ NTNX traded down $2.60 on Wednesday, reaching $69.75. 3,194,114 shares of the company’s stock traded hands, compared to its average volume of 2,560,928. The business’s 50 day simple moving average is $64.45 and its two-hundred day simple moving average is $59.35. Nutanix has a 12 month low of $40.44 and a 12 month high of $75.80. The company has a market cap of $18.50 billion, a price-to-earnings ratio of -134.13, a price-to-earnings-growth ratio of 12.05 and a beta of 1.17.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings data on Wednesday, August 28th. The technology company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.02. The company had revenue of $547.95 million for the quarter, compared to the consensus estimate of $537.12 million. Nutanix had a negative net margin of 5.81% and a negative return on equity of 7.57%. Analysts forecast that Nutanix will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Nutanix

In other Nutanix news, CFO Rukmini Sivaraman sold 24,316 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $58.85, for a total value of $1,430,996.60. Following the completion of the transaction, the chief financial officer now directly owns 192,169 shares in the company, valued at $11,309,145.65. This represents a 11.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction of $714,968.50. Following the completion of the sale, the chief operating officer now directly owns 123,868 shares of the company’s stock, valued at approximately $7,411,022.44. This trade represents 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 corporate insiders.

Hedge Funds Weigh In On Nutanix

Several large investors have recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Nutanix during the second quarter worth about $25,000. ORG Wealth Partners LLC bought a new position in Nutanix in the 3rd quarter worth approximately $27,000. Larson Financial Group LLC grew its holdings in Nutanix by 122.7% during the 3rd quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock valued at $30,000 after buying an additional 281 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Nutanix by 150.7% during the third quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock valued at $32,000 after buying an additional 321 shares during the last quarter. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of Nutanix in the second quarter worth $32,000. 85.25% of the stock is currently owned by hedge funds and other institutional investors.

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.