Barclays Raises Nutanix (NASDAQ:NTNX) Price Target to $81.00

Nutanix (NASDAQ:NTNXFree Report) had its target price boosted by Barclays from $68.00 to $81.00 in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

Several other brokerages also recently commented on NTNX. Needham & Company LLC increased their price objective on shares of Nutanix from $62.00 to $72.00 and gave the company a buy rating in a research report on Thursday, February 29th. Royal Bank of Canada increased their price objective on shares of Nutanix from $68.00 to $72.00 and gave the company an outperform rating in a research report on Thursday, February 29th. JMP Securities increased their price objective on shares of Nutanix from $50.00 to $70.00 and gave the company a market outperform rating in a research report on Monday, February 5th. Morgan Stanley increased their price objective on shares of Nutanix from $63.00 to $72.00 and gave the company an equal weight rating in a research report on Thursday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Nutanix from $70.00 to $80.00 and gave the company an overweight rating in a research report on Friday. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $68.54.

Read Our Latest Stock Report on NTNX

Nutanix Price Performance

NASDAQ:NTNX opened at $72.85 on Friday. The firm’s 50-day moving average price is $64.38 and its 200-day moving average price is $55.90. The company has a market capitalization of $17.80 billion, a PE ratio of -202.36 and a beta of 1.27. Nutanix has a 1-year low of $26.47 and a 1-year high of $73.69.

Nutanix (NASDAQ:NTNXGet Free Report) last released its earnings results on Wednesday, February 28th. The technology company reported $0.17 earnings per share for the quarter. The business had revenue of $565.23 million during the quarter, compared to analysts’ expectations of $551.82 million. Equities analysts anticipate that Nutanix will post -0.04 EPS for the current fiscal year.

Insider Transactions at Nutanix

In other Nutanix news, CEO Rajiv Ramaswami sold 23,932 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $63.05, for a total transaction of $1,508,912.60. Following the sale, the chief executive officer now owns 373,024 shares in the company, valued at approximately $23,519,163.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, COO David Sangster sold 12,545 shares of Nutanix stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $63.04, for a total transaction of $790,836.80. Following the sale, the chief operating officer now owns 70,192 shares in the company, valued at $4,424,903.68. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Rajiv Ramaswami sold 23,932 shares of Nutanix stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $63.05, for a total transaction of $1,508,912.60. Following the sale, the chief executive officer now owns 373,024 shares in the company, valued at approximately $23,519,163.20. The disclosure for this sale can be found here. Insiders have sold 129,506 shares of company stock worth $8,270,938 in the last quarter. Company insiders own 0.46% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NTNX. FIL Ltd boosted its stake in Nutanix by 74.7% during the fourth quarter. FIL Ltd now owns 8,908,166 shares of the technology company’s stock worth $424,830,000 after buying an additional 3,809,981 shares during the period. Norges Bank bought a new stake in shares of Nutanix in the fourth quarter valued at about $137,465,000. Jericho Capital Asset Management L.P. bought a new stake in shares of Nutanix in the third quarter valued at about $82,421,000. Nordea Investment Management AB raised its holdings in shares of Nutanix by 387.1% in the first quarter. Nordea Investment Management AB now owns 2,612,812 shares of the technology company’s stock valued at $162,229,000 after acquiring an additional 2,076,377 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Nutanix by 29.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,358,768 shares of the technology company’s stock valued at $269,024,000 after acquiring an additional 985,421 shares in the last quarter. 85.25% of the stock is owned by hedge funds and other institutional investors.

Nutanix Company Profile

(Get Free Report)

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.

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