Nutanix’s (NTNX) Market Perform Rating Reiterated at Northland Securities

Northland Securities reiterated their market perform rating on shares of Nutanix (NASDAQ:NTNX) in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a $77.00 price target on the technology company’s stock, up from their prior price target of $74.00.

A number of other equities analysts have also commented on the stock. Morgan Stanley raised shares of Nutanix from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $71.00 to $72.00 in a research report on Monday, October 28th. 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. Needham & Company LLC reaffirmed a “buy” rating and set a $80.00 price target on shares of Nutanix in a research report on Thursday, August 29th. Royal Bank of Canada raised their price target on shares of Nutanix from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Finally, Raymond James raised their price target on shares of Nutanix from $76.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $78.86.

Nutanix Price Performance

Shares of NTNX opened at $65.28 on Wednesday. The firm has a market capitalization of $17.31 billion, a PE ratio of -186.51, a PEG ratio of 11.04 and a beta of 1.17. The company’s 50-day moving average is $64.88 and its 200-day moving average is $59.45. Nutanix has a fifty-two week low of $42.22 and a fifty-two week high of $75.80.

Nutanix (NASDAQ:NTNX) last issued its quarterly earnings data on Wednesday, August 28th. The technology company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.02. The company had revenue of $547.95 million for the quarter, compared to analyst estimates of $537.12 million. Nutanix had a negative net margin of 3.54% and a negative return on equity of 12.43%. Analysts predict that Nutanix will post 0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO David Sangster sold 11,950 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were 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 approximately $7,411,022.44. This trade represents a 8.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Rukmini Sivaraman sold 24,316 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now owns 192,169 shares in the company, valued at approximately $11,309,145.65. The trade was a 11.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Nutanix

A number of hedge funds have recently made changes to their positions in the stock. Tidal Investments LLC boosted its stake in shares of Nutanix by 4.0% in the 3rd quarter. Tidal Investments LLC now owns 22,297 shares of the technology company’s stock valued at $1,321,000 after purchasing an additional 862 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Nutanix in the 3rd quarter valued at approximately $111,000. Sanctuary Advisors LLC bought a new position in Nutanix in the 3rd quarter valued at approximately $555,000. Geode Capital Management LLC raised its holdings in Nutanix by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,147,126 shares of the technology company’s stock valued at $245,968,000 after buying an additional 22,091 shares during the last quarter. Finally, Groupama Asset Managment raised its holdings in Nutanix by 1.0% in the 3rd quarter. Groupama Asset Managment now owns 707,000 shares of the technology company’s stock valued at $41,890,000 after buying an additional 7,000 shares during the last quarter. 85.25% of the stock is currently owned by institutional investors and hedge funds.

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.