Nutanix (NASDAQ:NTNX) Sets New 1-Year High – Here’s What Happened

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on NTNX shares. Bank of America upped 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. Royal Bank of Canada lifted their price objective on shares of Nutanix from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. boosted their price objective on shares of Nutanix from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Oppenheimer started coverage on Nutanix in a research report on Wednesday, November 13th. They set an “outperform” rating and a $80.00 price target on the stock. Finally, Morgan Stanley upgraded Nutanix from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $71.00 to $72.00 in a research report on Monday, October 28th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $73.86.

Nutanix Trading Up 1.9 %

The stock’s 50-day simple moving average is $63.90 and its 200 day simple moving average is $59.28.

Nutanix (NASDAQ:NTNX) last issued its earnings results 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 business had revenue of $547.95 million during the quarter, compared to the consensus estimate of $537.12 million. Nutanix had a negative return on equity of 7.57% and a negative net margin of 5.81%. On average, equities research analysts expect that Nutanix, Inc. will post 0.31 EPS for the current fiscal year.

Insider Activity at Nutanix

In other Nutanix news, COO David Sangster sold 11,950 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer now owns 123,868 shares in the company, valued at approximately $7,411,022.44. This represents a 8.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Rukmini Sivaraman sold 24,316 shares of the 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 completion of the transaction, the chief financial officer now owns 192,169 shares in the company, valued at approximately $11,309,145.65. This represents a 11.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.80% of the stock is owned by corporate insiders.

Institutional Trading of Nutanix

Several institutional investors have recently made changes to their positions in NTNX. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Nutanix in the 2nd quarter worth about $25,000. ORG Wealth Partners LLC bought a new stake in Nutanix during the third quarter worth $27,000. Larson Financial Group LLC raised its stake 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 worth $30,000 after purchasing an additional 281 shares during the period. Itau Unibanco Holding S.A. purchased a new position in shares of Nutanix in the 2nd quarter worth about $32,000. Finally, Advisors Asset Management Inc. raised its position in Nutanix by 150.7% in the third quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock worth $32,000 after acquiring an additional 321 shares during the period. Institutional investors 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.