Nutanix (NASDAQ:NTNX) Sets New 12-Month High – Time to Buy?

Nutanix, Inc. (NASDAQ:NTNX)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $73.80 and last traded at $73.80, with a volume of 13579 shares trading hands. The stock had previously closed at $73.18.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. 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. Barclays lifted their price objective on shares of Nutanix from $71.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Raymond James increased their target price on shares of Nutanix from $76.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Morgan Stanley upgraded shares of Nutanix from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $71.00 to $72.00 in a report on Monday, October 28th. Finally, Northland Securities upped their price target on shares of Nutanix from $71.00 to $74.00 and gave the company a “market perform” rating in a report on Friday, August 30th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.86.

Nutanix Stock Performance

The company has a fifty day simple moving average of $64.45 and a two-hundred day simple moving average of $59.35. The firm has a market capitalization of $19.19 billion, a PE ratio of -139.13, a PEG ratio of 12.11 and a beta of 1.17.

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

Insider Transactions at Nutanix

In other news, CFO Rukmini Sivaraman sold 24,316 shares of Nutanix stock in a transaction on Tuesday, September 17th. The stock was 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 directly owns 192,169 shares in the company, valued at approximately $11,309,145.65. This trade represents a 11.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO David Sangster sold 11,950 shares of the business’s 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 completion of the transaction, the chief operating officer now directly owns 123,868 shares of the company’s stock, 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. Corporate insiders own 6.80% of the company’s stock.

Institutional Trading of Nutanix

Hedge funds have recently modified their holdings of the company. Freedom Investment Management Inc. grew its position in shares of Nutanix by 4.0% in the 3rd quarter. Freedom Investment Management Inc. now owns 3,883 shares of the technology company’s stock worth $230,000 after buying an additional 151 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Nutanix by 3.4% in the third quarter. CIBC Asset Management Inc now owns 7,036 shares of the technology company’s stock valued at $417,000 after acquiring an additional 233 shares in the last quarter. GAMMA Investing LLC grew its holdings in Nutanix by 35.2% in the second quarter. GAMMA Investing LLC now owns 933 shares of the technology company’s stock worth $53,000 after purchasing an additional 243 shares during the last quarter. Paragon Capital Management Inc. increased its position in shares of Nutanix by 1.0% during the third quarter. Paragon Capital Management Inc. now owns 26,082 shares of the technology company’s stock worth $1,545,000 after purchasing an additional 258 shares in the last quarter. Finally, Larson Financial Group LLC lifted its holdings in shares of 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 purchasing an additional 281 shares during the last quarter. 85.25% of the stock is 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.