Nutanix’s (NTNX) “Market Perform” Rating Reaffirmed at Northland Securities

Northland Securities reiterated their market perform rating on shares of Nutanix (NASDAQ:NTNX) in a research report report published on Wednesday morning,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.

A number of other brokerages have also recently issued reports on NTNX. Piper Sandler boosted their price objective on Nutanix from $76.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Bank of America boosted their price target on shares of Nutanix from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Morgan Stanley raised shares of Nutanix from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $71.00 to $72.00 in a report on Monday, October 28th. Barclays boosted their target price on shares of Nutanix from $71.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $80.00 price target on shares of Nutanix in a report on Thursday, August 29th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $78.86.

Nutanix Stock Down 7.8 %

Shares of NTNX stock opened at $66.70 on Wednesday. The firm has a market cap of $17.69 billion, a P/E ratio of -128.27, a PEG ratio of 12.05 and a beta of 1.17. The company has a 50 day moving average of $64.64 and a 200-day moving average of $59.40. Nutanix has a 12-month low of $40.44 and a 12-month high of $75.80.

Nutanix (NASDAQ:NTNX) last released its earnings results on Wednesday, August 28th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. Nutanix had a negative return on equity of 7.57% and a negative net margin of 5.81%. The business had revenue of $547.95 million during the quarter, compared to the consensus estimate of $537.12 million. As a group, equities analysts expect that Nutanix will post 0.31 EPS for the current year.

Insider Activity 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 value of $1,430,996.60. Following the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO David Sangster sold 11,950 shares of Nutanix 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 directly owns 123,868 shares of the company’s stock, valued at $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. 6.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nutanix

Several institutional investors have recently modified their holdings of NTNX. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Nutanix in the 2nd quarter worth approximately $25,000. ORG Wealth Partners LLC bought a new stake in shares of Nutanix in the 3rd quarter worth approximately $27,000. Larson Financial Group LLC boosted its stake in shares of Nutanix by 122.7% in the 3rd quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock valued at $30,000 after purchasing an additional 281 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Nutanix during the 2nd quarter valued at $32,000. Finally, Advisors Asset Management Inc. raised its position in Nutanix by 150.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock worth $32,000 after purchasing an additional 321 shares during the period. 85.25% of the stock is currently owned by institutional investors.

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.