Nutanix (NASDAQ:NTNX) Price Target Raised to $75.00 at Wells Fargo & Company

Nutanix (NASDAQ:NTNX) had its target price lifted by Wells Fargo & Company from $60.00 to $75.00 in a research note published on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the technology company’s stock.

A number of other equities analysts have also commented on the stock. Barclays raised their price target on shares of Nutanix from $75.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday. Needham & Company LLC lifted their price target on shares of Nutanix from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday. Northland Securities reissued a “market perform” rating and set a $77.00 price target (up previously from $74.00) on shares of Nutanix in a research report on Wednesday. Morgan Stanley raised their price objective on Nutanix from $72.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Raymond James upped their target price on Nutanix from $76.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Nutanix has an average rating of “Moderate Buy” and a consensus price target of $78.86.

Nutanix Trading Down 7.8 %

Shares of NASDAQ NTNX opened at $66.70 on Wednesday. The firm has a market cap of $17.69 billion, a P/E ratio of -128.27, a price-to-earnings-growth ratio of 12.05 and a beta of 1.17. The business’s 50 day moving average is $64.64 and its 200-day moving average is $59.40. Nutanix has a 1-year low of $40.44 and a 1-year high of $75.80.

Nutanix (NASDAQ:NTNX) last posted its quarterly earnings data on Wednesday, August 28th. The technology company reported ($0.06) earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $537.12 million. Analysts forecast that Nutanix will post 0.31 EPS for the current year.

Insider Activity at Nutanix

In other news, COO David Sangster sold 11,950 shares of the company’s 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 completion of the transaction, the chief operating officer now 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Rukmini Sivaraman sold 24,316 shares of Nutanix 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 sale, 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 insiders.

Hedge Funds Weigh In On Nutanix

Several large investors have recently modified their holdings of the business. Freedom Investment Management Inc. grew its stake in shares of Nutanix by 4.0% in the third quarter. Freedom Investment Management Inc. now owns 3,883 shares of the technology company’s stock worth $230,000 after purchasing an additional 151 shares during the last quarter. CIBC Asset Management Inc grew its position in shares of Nutanix by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 7,036 shares of the technology company’s stock valued at $417,000 after buying an additional 233 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Nutanix by 35.2% in the 2nd quarter. GAMMA Investing LLC now owns 933 shares of the technology company’s stock valued at $53,000 after buying an additional 243 shares during the last quarter. Paragon Capital Management Inc. increased its stake in shares of Nutanix by 1.0% in the third quarter. Paragon Capital Management Inc. now owns 26,082 shares of the technology company’s stock valued at $1,545,000 after buying an additional 258 shares during the period. Finally, Larson Financial Group LLC raised its position in shares of Nutanix by 122.7% during 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. Institutional investors own 85.25% of the company’s stock.

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.