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

Nutanix (NASDAQ:NTNX - Get Free Report)'s stock had its "market perform" rating restated by equities research analysts at Northland Securities in a research report issued on Wednesday,Benzinga reports. They currently have a $77.00 price target on the technology company's stock, up from their previous price target of $74.00. Northland Securities' target price indicates a potential upside of 14.79% from the company's previous close.

A number of other research firms have also weighed in on NTNX. Oppenheimer started coverage on shares of Nutanix in a report on Wednesday, November 13th. They set an "outperform" rating and a $80.00 price target for the company. Morgan Stanley raised Nutanix from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $71.00 to $72.00 in a report on Monday, October 28th. Needham & Company LLC restated a "buy" rating and set a $80.00 price objective on shares of Nutanix in a report on Thursday, August 29th. JPMorgan Chase & Co. increased their price objective on shares of Nutanix from $65.00 to $75.00 and gave the company an "overweight" rating in a research note on Thursday, August 29th. Finally, Bank of America upped their target price on shares of Nutanix from $72.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, August 29th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $78.86.

Nutanix Stock Performance

Shares of NASDAQ:NTNX traded down $5.27 during midday trading on Wednesday, hitting $67.08. 5,804,690 shares of the company's stock traded hands, compared to its average volume of 2,574,010. The firm's fifty day moving average price is $64.45 and its two-hundred day moving average price is $59.35. Nutanix has a twelve month low of $40.44 and a twelve month high of $75.80. The company has a market cap of $17.79 billion, a PE ratio of -130.25, a P/E/G ratio of 12.05 and a beta of 1.17.

Nutanix (NASDAQ:NTNX - Get Free Report) last posted its earnings results on Wednesday, August 28th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.08) by $0.02. The business had revenue of $547.95 million during the quarter, compared to analyst estimates of $537.12 million. Nutanix had a negative return on equity of 7.57% and a negative net margin of 5.81%. As a group, equities research analysts anticipate that Nutanix will post 0.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Rukmini Sivaraman sold 24,316 shares of the stock in a transaction 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 approximately $11,309,145.65. This represents a 11.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO David Sangster sold 11,950 shares of the business's stock in a transaction 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 sale, the chief operating officer now directly owns 123,868 shares in the company, valued at $7,411,022.44. This trade represents a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by insiders.

Institutional Trading of Nutanix

Several institutional investors and hedge funds have recently bought and sold shares of NTNX. Bain Capital Investors LLC purchased a new position in shares of Nutanix in the third quarter worth approximately $998,601,000. Driehaus Capital Management LLC lifted its holdings in shares of Nutanix by 123.9% in 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 purchasing an additional 794,215 shares in the last quarter. Two Sigma Advisers LP boosted its position in shares of Nutanix by 32.8% in the third quarter. Two Sigma Advisers LP now owns 2,814,002 shares of the technology company's stock worth $166,730,000 after buying an additional 695,567 shares during the period. Marshall Wace LLP grew its holdings 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 in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in Nutanix by 15.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,816,647 shares of the technology company's stock worth $166,886,000 after acquiring an additional 374,328 shares in the last quarter. Institutional investors and hedge funds 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.