Nutanix (NASDAQ:NTNX) Price Target Raised to $83.00

Nutanix (NASDAQ:NTNX) had its price target increased by Piper Sandler from $77.00 to $83.00 in a research report released on Wednesday,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

A number of other equities analysts also recently issued reports on NTNX. JPMorgan Chase & Co. upped their price target on Nutanix from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Needham & Company LLC upped their price objective on shares of Nutanix from $80.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday. Royal Bank of Canada lifted their target price on shares of Nutanix from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Bank of America upped their price target on shares of Nutanix from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, Northland Securities reiterated a “market perform” rating and set a $77.00 price objective (up from $74.00) on shares of Nutanix in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $78.86.

Nutanix Trading Down 2.1 %

Shares of NASDAQ:NTNX opened at $65.28 on Wednesday. The company has a market capitalization of $17.31 billion, a PE ratio of -186.51, a P/E/G ratio of 11.04 and a beta of 1.17. Nutanix has a 12-month low of $42.22 and a 12-month high of $75.80. The business’s fifty day simple moving average is $64.88 and its 200-day simple moving average is $59.45.

Nutanix (NASDAQ:NTNX) last announced its earnings results on Wednesday, August 28th. The technology company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. Nutanix had a negative net margin of 3.54% and a negative return on equity of 12.43%. The business had revenue of $547.95 million during the quarter, compared to the consensus estimate of $537.12 million. Research analysts predict 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 Nutanix stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 192,169 shares of the company’s stock, valued at $11,309,145.65. The trade was a 11.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 sale, the chief operating officer now directly owns 123,868 shares in the company, valued at $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. Company insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Nutanix

A number of large investors have recently bought and sold shares of NTNX. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Nutanix during the second quarter valued at $25,000. ORG Wealth Partners LLC acquired a new position in shares of Nutanix during the third quarter valued at approximately $27,000. Larson Financial Group LLC boosted its stake in shares of Nutanix by 122.7% in the third quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock worth $30,000 after acquiring an additional 281 shares during the last quarter. Advisors Asset Management Inc. increased 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 worth $32,000 after purchasing an additional 321 shares in the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new position in Nutanix in the 2nd quarter valued at $32,000. Institutional investors and hedge funds own 85.25% of the company’s stock.

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.