Analysts Set Nutanix, Inc. (NASDAQ:NTNX) Price Target at $72.00

Nutanix, Inc. (NASDAQ:NTNX - Get Free Report) has earned an average recommendation of "Moderate Buy" from the fifteen brokerages that are currently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $72.00.

NTNX has been the topic of several recent research reports. Morgan Stanley cut their price target on Nutanix from $72.00 to $62.00 and set an "equal weight" rating on the stock in a report on Friday, June 21st. KeyCorp raised their target price on shares of Nutanix from $69.00 to $79.00 and gave the company an "overweight" rating in a report on Thursday, May 30th. Northland Capmk cut shares of Nutanix from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 30th. Raymond James increased their price objective on shares of Nutanix from $72.00 to $76.00 and gave the company an "outperform" rating in a research report on Thursday, May 30th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Nutanix from $70.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, May 24th.

Nutanix Price Performance

Shares of NTNX stock traded down $2.13 during trading on Wednesday, reaching $48.25. The company's stock had a trading volume of 4,323,465 shares, compared to its average volume of 2,791,663. Nutanix has a 1-year low of $28.49 and a 1-year high of $73.69. The stock's 50-day moving average price is $59.93 and its 200 day moving average price is $59.27. The company has a market capitalization of $11.90 billion, a price-to-earnings ratio of -689.19, a P/E/G ratio of 11.62 and a beta of 1.16.

Nutanix (NASDAQ:NTNX - Get Free Report) last posted its quarterly earnings results on Wednesday, May 29th. The technology company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.11) by $0.12. Nutanix had a negative net margin of 0.57% and a negative return on equity of 7.74%. The business had revenue of $524.58 million during the quarter, compared to the consensus estimate of $516.13 million. On average, sell-side analysts anticipate that Nutanix will post 0.11 EPS for the current fiscal year.

Insider Buying and Selling at Nutanix

In other news, COO David Sangster sold 10,384 shares of Nutanix stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $54.19, for a total value of $562,708.96. Following the transaction, the chief operating officer now directly owns 64,333 shares of the company's stock, valued at approximately $3,486,205.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Rukmini Sivaraman sold 12,566 shares of the company's stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $53.22, for a total transaction of $668,762.52. Following the completion of the sale, the chief financial officer now owns 144,902 shares in the company, valued at $7,711,684.44. 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 10,384 shares of the stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $54.19, for a total value of $562,708.96. Following the sale, the chief operating officer now directly owns 64,333 shares of the company's stock, valued at $3,486,205.27. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,936 shares of company stock worth $2,531,273. 0.46% of the stock is owned by insiders.

Hedge Funds Weigh In On Nutanix

Large investors have recently bought and sold shares of the company. FIL Ltd boosted its stake in shares of Nutanix by 74.7% in the fourth quarter. FIL Ltd now owns 8,908,166 shares of the technology company's stock valued at $424,830,000 after buying an additional 3,809,981 shares in the last quarter. Norges Bank acquired a new stake in Nutanix in the fourth quarter valued at $137,465,000. Nordea Investment Management AB boosted its position in shares of Nutanix by 387.1% during the 1st quarter. Nordea Investment Management AB now owns 2,612,812 shares of the technology company's stock worth $162,229,000 after purchasing an additional 2,076,377 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Nutanix by 29.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,358,768 shares of the technology company's stock worth $269,024,000 after purchasing an additional 985,421 shares during the period. Finally, Federated Hermes Inc. increased its holdings in shares of Nutanix by 61.4% in the 4th quarter. Federated Hermes Inc. now owns 1,295,112 shares of the technology company's stock valued at $61,764,000 after purchasing an additional 492,463 shares in the last quarter. Hedge funds and other 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.