Nutanix (NASDAQ:NTNX) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Nutanix (NASDAQ:NTNX) have been assigned an average rating of “Moderate Buy” from the nineteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $75.1333.

Several research firms have issued reports on NTNX. Wall Street Zen downgraded Nutanix from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th. Oppenheimer initiated coverage on shares of Nutanix in a report on Monday, November 17th. They set an “outperform” rating and a $90.00 price objective on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $72.00 target price (down from $88.00) on shares of Nutanix in a report on Wednesday, November 26th. Morgan Stanley decreased their price target on Nutanix from $90.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 26th. Finally, Bank of America dropped their price objective on Nutanix from $93.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, November 26th.

Insiders Place Their Bets

In other news, CEO Rajiv Ramaswami sold 144,707 shares of the firm’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $76.42, for a total value of $11,058,508.94. Following the completion of the transaction, the chief executive officer owned 524,608 shares in the company, valued at $40,090,543.36. This trade represents a 21.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Teresa Gayle Sheppard sold 3,500 shares of Nutanix stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $76.48, for a total value of $267,680.00. Following the transaction, the director directly owned 22,400 shares of the company’s stock, valued at $1,713,152. This trade represents a 13.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.40% of the company’s stock.

Institutional Trading of Nutanix

Several institutional investors and hedge funds have recently modified their holdings of the business. Earned Wealth Advisors LLC increased its stake in shares of Nutanix by 3.8% during the 2nd quarter. Earned Wealth Advisors LLC now owns 3,915 shares of the technology company’s stock worth $299,000 after purchasing an additional 142 shares in the last quarter. SBI Securities Co. Ltd. lifted its stake in Nutanix by 6.4% in the 2nd quarter. SBI Securities Co. Ltd. now owns 2,453 shares of the technology company’s stock valued at $188,000 after buying an additional 148 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Nutanix by 42.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 502 shares of the technology company’s stock valued at $38,000 after buying an additional 150 shares during the last quarter. Simmons Bank increased its position in Nutanix by 2.1% during the second quarter. Simmons Bank now owns 7,295 shares of the technology company’s stock worth $558,000 after buying an additional 150 shares in the last quarter. Finally, Crestwood Advisors Group LLC increased its position in Nutanix by 0.4% during the third quarter. Crestwood Advisors Group LLC now owns 43,499 shares of the technology company’s stock worth $3,236,000 after buying an additional 161 shares in the last quarter. Hedge funds and other institutional investors own 85.25% of the company’s stock.

Nutanix Stock Down 1.3%

Shares of NTNX stock opened at $52.23 on Wednesday. The stock’s 50-day moving average price is $59.60 and its 200 day moving average price is $68.47. The stock has a market capitalization of $14.12 billion, a PE ratio of 69.64, a price-to-earnings-growth ratio of 5.63 and a beta of 0.53. Nutanix has a 52-week low of $46.12 and a 52-week high of $83.36.

Nutanix (NASDAQ:NTNX) last issued its earnings results on Tuesday, November 25th. The technology company reported $0.41 earnings per share for the quarter, meeting the consensus estimate of $0.41. The business had revenue of $670.58 million for the quarter, compared to the consensus estimate of $677.23 million. Nutanix had a net margin of 8.43% and a negative return on equity of 32.95%. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 earnings per share. Analysts expect that Nutanix will post 0.31 earnings per share for the current fiscal year.

Nutanix Company Profile

Nutanix, Inc is an enterprise cloud computing company that develops software to simplify the deployment and management of datacenter infrastructure. Founded in 2009 and headquartered in San Jose, California, Nutanix is best known for pioneering hyperconverged infrastructure (HCI), an approach that integrates compute, storage and virtualization into a single software-defined platform aimed at reducing complexity and operational overhead in private and hybrid cloud environments.

The company’s product portfolio centers on the Nutanix Cloud Platform, which includes its core AOS software for HCI, Prism for infrastructure management and automation, and a suite of additional services such as Calm for application automation, Files and Volumes for file and block services, Karbon for Kubernetes orchestration, and Era for database management.