Nutanix (NASDAQ:NTNX) Given New $65.00 Price Target at JPMorgan Chase & Co.

Nutanix (NASDAQ:NTNX - Free Report) had its target price decreased by JPMorgan Chase & Co. from $80.00 to $65.00 in a research report released on Friday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the technology company's stock.

Several other brokerages have also issued reports on NTNX. Barclays reduced their price objective on shares of Nutanix from $80.00 to $71.00 and set an overweight rating on the stock in a report on Tuesday. Raymond James upped their price objective on shares of Nutanix from $72.00 to $76.00 and gave the stock an outperform rating in a report on Thursday, May 30th. Royal Bank of Canada lifted their target price on shares of Nutanix from $72.00 to $80.00 and gave the company an overweight rating in a report on Wednesday, May 29th. Morgan Stanley decreased their price target on Nutanix from $72.00 to $62.00 and set an equal weight rating on the stock in a research note on Friday, June 21st. Finally, Needham & Company LLC raised their price target on Nutanix from $72.00 to $80.00 and gave the stock a buy rating in a research report on Thursday, May 30th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $70.69.

Nutanix Stock Up 1.4 %

NASDAQ:NTNX traded up $0.74 on Friday, hitting $53.35. The stock had a trading volume of 1,357,670 shares, compared to its average volume of 2,680,054. The company has a fifty day moving average price of $52.53 and a two-hundred day moving average price of $58.74. The stock has a market cap of $13.16 billion, a price-to-earnings ratio of -762.14, a PEG ratio of 4.45 and a beta of 1.16. Nutanix has a 1-year low of $29.25 and a 1-year high of $73.69.

Nutanix (NASDAQ:NTNX - Get Free Report) last issued its quarterly earnings data on Wednesday, May 29th. The technology company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.12. Nutanix had a negative return on equity of 7.74% and a negative net margin of 0.57%. The company had revenue of $524.58 million during the quarter, compared to analyst estimates of $516.13 million. As a group, analysts anticipate that Nutanix will post 0.12 earnings per share for the current year.

Insider Buying and Selling

In other news, COO David Sangster sold 10,384 shares of the firm's 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 sale, the chief operating officer now directly owns 64,333 shares in the company, valued at approximately $3,486,205.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Rukmini Sivaraman sold 12,566 shares of the business'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 SEC, which is available through the SEC website. Also, COO David Sangster sold 10,384 shares of the company's stock in a transaction that occurred 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 completion of the transaction, 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. Insiders sold 46,936 shares of company stock worth $2,531,273 over the last 90 days. 0.46% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Nutanix during the 2nd quarter worth $25,000. Atlantic Edge Private Wealth Management LLC acquired a new position in Nutanix during the fourth quarter worth approximately $29,000. GAMMA Investing LLC purchased a new position in shares of Nutanix during the fourth quarter worth approximately $30,000. Itau Unibanco Holding S.A. purchased a new position in shares of Nutanix during the second quarter worth approximately $32,000. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Nutanix in the 4th quarter valued at $37,000. Institutional investors and hedge funds 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.