Nutanix (NASDAQ:NTNX) Receives “Market Perform” Rating from Northland Securities

Nutanix (NASDAQ:NTNX)‘s stock had its “market perform” rating reiterated by equities researchers at Northland Securities in a research report issued on Wednesday,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. Northland Securities’ target price indicates a potential upside of 6.43% from the company’s current price.

A number of other analysts have also commented on the company. Bank of America lifted their price target on Nutanix from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Raymond James lifted their price target on Nutanix from $76.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. lifted their price target on Nutanix from $65.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Morgan Stanley upgraded 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 research report on Monday, October 28th. Finally, Needham & Company LLC restated a “buy” rating and set a $80.00 price objective on shares of Nutanix in a research report on Thursday, August 29th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.79.

Nutanix Trading Down 0.6 %

Shares of NTNX stock opened at $72.35 on Wednesday. The business’s 50-day moving average price is $64.45 and its 200-day moving average price is $59.35. Nutanix has a 12 month low of $40.33 and a 12 month high of $75.80. The firm has a market capitalization of $19.19 billion, a price-to-earnings ratio of -139.13, a PEG ratio of 12.05 and a beta of 1.17.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings results on Wednesday, August 28th. The technology company reported ($0.06) EPS for the quarter, beating 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 firm had revenue of $547.95 million for the quarter, compared to analyst estimates of $537.12 million. On average, sell-side analysts predict that Nutanix will post 0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Rukmini Sivaraman sold 24,316 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $58.85, for a total transaction of $1,430,996.60. Following the completion of the sale, the chief financial officer now owns 192,169 shares in the company, valued at $11,309,145.65. The trade was a 11.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO David Sangster sold 11,950 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $59.83, for a total value of $714,968.50. Following the sale, the chief operating officer now owns 123,868 shares of the company’s stock, valued at approximately $7,411,022.44. This represents a 8.80 % decrease in their position. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nutanix

Several hedge funds and other institutional investors have recently modified their holdings of NTNX. Bain Capital Investors LLC purchased a new position in shares of Nutanix during the third quarter valued at approximately $998,601,000. Driehaus Capital Management LLC boosted its position in shares of Nutanix by 123.9% during the second quarter. Driehaus Capital Management LLC now owns 1,435,230 shares of the technology company’s stock valued at $81,593,000 after buying an additional 794,215 shares during the last quarter. Two Sigma Advisers LP boosted its position in shares of Nutanix by 32.8% during the third quarter. Two Sigma Advisers LP now owns 2,814,002 shares of the technology company’s stock valued at $166,730,000 after buying an additional 695,567 shares during the last quarter. Marshall Wace LLP boosted its position in shares of Nutanix by 47.5% during the second quarter. Marshall Wace LLP now owns 1,482,989 shares of the technology company’s stock valued at $84,308,000 after buying an additional 477,838 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Nutanix by 15.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,816,647 shares of the technology company’s stock valued at $166,886,000 after buying an additional 374,328 shares during the last quarter. 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.