Nutanix, Inc. (NASDAQ:NTNX) Receives $65.17 Consensus Target Price from Analysts

Nutanix, Inc. (NASDAQ:NTNX) has been given an average rating of “Moderate Buy” by the fourteen brokerages that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $65.17.

Several equities analysts recently issued reports on the stock. Bank of America boosted their target price on shares of Nutanix from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Needham & Company LLC raised their target price on Nutanix from $62.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. JMP Securities upped their price target on Nutanix from $50.00 to $70.00 and gave the stock a “market outperform” rating in a report on Monday, February 5th. KeyCorp raised their price objective on Nutanix from $68.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Finally, Susquehanna upped their target price on Nutanix from $60.00 to $75.00 and gave the stock a “positive” rating in a research note on Wednesday, April 10th.

Nutanix Stock Performance

NASDAQ NTNX opened at $62.24 on Friday. The firm has a market capitalization of $15.21 billion, a P/E ratio of -172.89 and a beta of 1.27. The stock has a 50-day simple moving average of $62.63 and a two-hundred day simple moving average of $52.46. Nutanix has a fifty-two week low of $23.88 and a fifty-two week high of $66.99.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings results on Wednesday, February 28th. The technology company reported $0.17 earnings per share for the quarter. The company had revenue of $565.23 million for the quarter, compared to analysts’ expectations of $551.82 million. As a group, analysts forecast that Nutanix will post -0.04 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Rukmini Sivaraman sold 53,029 shares of the business’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $64.77, for a total transaction of $3,434,688.33. Following the transaction, the chief financial officer now directly owns 144,635 shares in the company, valued at $9,368,008.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Nutanix news, insider Tyler Wall sold 15,000 shares of Nutanix stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $62.25, for a total transaction of $933,750.00. Following the transaction, the insider now directly owns 13,168 shares of the company’s stock, valued at $819,708. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Rukmini Sivaraman sold 53,029 shares of Nutanix stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $64.77, for a total transaction of $3,434,688.33. Following the transaction, the chief financial officer now directly owns 144,635 shares in the company, valued at $9,368,008.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 129,506 shares of company stock worth $8,270,938. 0.46% of the stock is owned by insiders.

Hedge Funds Weigh In On Nutanix

A number of institutional investors have recently bought and sold shares of NTNX. Sonen Capital LLC raised its stake in shares of Nutanix by 1.8% in the 3rd quarter. Sonen Capital LLC now owns 18,118 shares of the technology company’s stock valued at $632,000 after acquiring an additional 324 shares during the period. M&T Bank Corp raised its stake in shares of Nutanix by 3.6% in the 4th quarter. M&T Bank Corp now owns 9,270 shares of the technology company’s stock valued at $442,000 after acquiring an additional 325 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Nutanix by 2.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 18,433 shares of the technology company’s stock valued at $1,138,000 after acquiring an additional 369 shares during the period. Venturi Wealth Management LLC raised its stake in shares of Nutanix by 49.7% in the 1st quarter. Venturi Wealth Management LLC now owns 1,208 shares of the technology company’s stock valued at $75,000 after acquiring an additional 401 shares during the period. Finally, Treasurer of the State of North Carolina raised its stake in shares of Nutanix by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 100,887 shares of the technology company’s stock valued at $3,519,000 after acquiring an additional 510 shares during the period. 85.25% of the stock is owned by hedge funds and other institutional investors.

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.