Oppenheimer Initiates Coverage on Nutanix (NASDAQ:NTNX)

Oppenheimer started coverage on shares of Nutanix (NASDAQ:NTNX - Free Report) in a research note released on Wednesday morning, MarketBeat Ratings reports. The firm issued an outperform rating and a $80.00 price objective on the technology company's stock.

Other equities research analysts also recently issued reports about the company. Raymond James boosted their price target on Nutanix from $76.00 to $85.00 and gave the company an "outperform" rating in a report on Thursday, August 29th. Piper Sandler increased their target price on shares of Nutanix from $76.00 to $77.00 and gave the stock an "overweight" rating in a report on Thursday, August 29th. JPMorgan Chase & Co. raised their price target on shares of Nutanix from $65.00 to $75.00 and gave the stock an "overweight" rating in a research report on Thursday, August 29th. Barclays boosted their price objective on shares of Nutanix from $71.00 to $75.00 and gave the company an "overweight" rating in a research report on Thursday, August 29th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $80.00 target price on shares of Nutanix in a report on Thursday, August 29th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $73.86.

Nutanix Trading Up 0.1 %

NASDAQ NTNX traded up $0.05 during trading hours on Wednesday, reaching $72.29. 975,023 shares of the company traded hands, compared to its average volume of 2,487,872. Nutanix has a 12 month low of $38.60 and a 12 month high of $73.69. The company has a 50 day moving average of $62.36 and a two-hundred day moving average of $58.87.

Nutanix (NASDAQ:NTNX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 28th. The technology company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.02. The business had revenue of $547.95 million for the quarter, compared to analysts' expectations of $537.12 million. Nutanix had a negative net margin of 5.81% and a negative return on equity of 7.57%. As a group, research analysts predict that Nutanix will post 0.27 earnings per share for the current fiscal year.

Insider Transactions at Nutanix

In related news, CFO Rukmini Sivaraman sold 24,316 shares of Nutanix stock in a transaction dated Tuesday, September 17th. The shares were 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 directly owns 192,169 shares in the company, valued at $11,309,145.65. The trade was a 0.00 % decrease in their ownership of the stock. 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 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 sale, the chief financial officer now owns 192,169 shares of the company's stock, valued at $11,309,145.65. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 sale, the chief operating officer now owns 123,868 shares of the company's stock, valued at $7,411,022.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.80% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Nutanix by 1.4% in the first quarter. Vanguard Group Inc. now owns 25,087,143 shares of the technology company's stock valued at $1,548,378,000 after buying an additional 346,414 shares in the last quarter. Champlain Investment Partners LLC boosted its position in shares of Nutanix by 3.7% in the 3rd quarter. Champlain Investment Partners LLC now owns 5,989,319 shares of the technology company's stock valued at $354,867,000 after purchasing an additional 215,363 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Nutanix by 29.2% in 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 in the last quarter. Jericho Capital Asset Management L.P. raised its holdings in Nutanix by 13.1% during the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,988,923 shares of the technology company's stock worth $246,196,000 after buying an additional 462,000 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in Nutanix by 7.4% during the second quarter. Renaissance Technologies LLC now owns 3,738,756 shares of the technology company's stock valued at $212,548,000 after buying an additional 256,156 shares in the last quarter. 85.25% of the stock is owned by institutional investors and hedge funds.

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.