Nutanix Inc. (NASDAQ:NTNX)‘s stock had its “buy” rating restated by equities research analysts at Piper Jaffray Companies in a report issued on Thursday, August 31st. They currently have a $28.00 price target on the technology company’s stock, up from their previous price target of $27.00. Piper Jaffray Companies’ target price would indicate a potential upside of 26.35% from the stock’s previous close.

A number of other equities analysts have also issued reports on NTNX. Bank of America Corporation reissued a “buy” rating and set a $27.00 price target on shares of Nutanix in a report on Thursday, August 31st. Stifel Nicolaus set a $25.00 price objective on Nutanix and gave the company a “hold” rating in a report on Tuesday, August 15th. Robert W. Baird reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Nutanix in a report on Friday, September 1st. KeyCorp reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Nutanix in a report on Friday, September 1st. Finally, Jefferies Group LLC began coverage on Nutanix in a report on Thursday, August 17th. They issued a “buy” rating and a $30.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $30.96.

Shares of Nutanix (NASDAQ:NTNX) traded down 1.42% during midday trading on Thursday, reaching $22.16. The company’s stock had a trading volume of 4,589,447 shares. The stock’s 50-day moving average is $22.06 and its 200-day moving average is $20.05. The company’s market capitalization is $3.36 billion. Nutanix has a one year low of $14.38 and a one year high of $46.78. Nutanix also was the recipient of unusually large options trading on Monday. Stock traders purchased 10,474 call options on the company. This is an increase of approximately 421% compared to the typical daily volume of 2,010 call options.

Nutanix (NASDAQ:NTNX) last released its quarterly earnings results on Thursday, August 31st. The technology company reported ($0.33) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.38) by $0.05. Nutanix had a negative return on equity of 248.46% and a negative net margin of 59.72%. The firm had revenue of $226.10 million for the quarter, compared to analyst estimates of $216 million. The company’s quarterly revenue was up 61.7% on a year-over-year basis. On average, equities analysts expect that Nutanix will post ($1.05) earnings per share for the current fiscal year.

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In related news, insider Sunil Potti sold 55,000 shares of the stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $17.33, for a total transaction of $953,150.00. Following the sale, the insider now owns 144,165 shares in the company, valued at $2,498,379.45. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Duston Williams sold 80,244 shares of the stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $17.23, for a total transaction of $1,382,604.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,216,967 shares of company stock worth $46,693,393.

Several large investors have recently made changes to their positions in the business. Legal & General Group Plc boosted its holdings in shares of Nutanix by 3,147.6% in the second quarter. Legal & General Group Plc now owns 8,801 shares of the technology company’s stock valued at $175,000 after acquiring an additional 8,530 shares in the last quarter. SG Americas Securities LLC bought a new stake in Nutanix during the second quarter worth approximately $186,000. First American Bank bought a new stake in Nutanix during the second quarter worth approximately $205,000. PNC Financial Services Group Inc. bought a new stake in Nutanix during the second quarter worth approximately $208,000. Finally, Oppenheimer & Co. Inc. bought a new stake in Nutanix during the first quarter worth approximately $211,000. Institutional investors own 32.20% of the company’s stock.

About Nutanix

Nutanix, Inc is a United States-based company, which provides an enterprise cloud platform that converges silos of server, virtualization and storage into an integrated solution. The Company’s enterprise cloud platform connects to public cloud services. It has operations in the United States; Europe, the Middle East and Africa; Asia-Pacific, and Other Americas.

Analyst Recommendations for Nutanix (NASDAQ:NTNX)

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