Nutanix (NASDAQ:NTNX) Stock Price Up 1.2% on Analyst Upgrade

Nutanix, Inc. (NASDAQ:NTNX)’s share price was up 1.2% during trading on Wednesday after Susquehanna raised their price target on the stock from $60.00 to $75.00. Susquehanna currently has a positive rating on the stock. Nutanix traded as high as $65.45 and last traded at $65.29. Approximately 177,854 shares were traded during trading, a decline of 94% from the average daily volume of 2,787,523 shares. The stock had previously closed at $64.50.

NTNX has been the subject of a number of other research reports. KeyCorp upped their target price on Nutanix from $68.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Bank of America upped their target price on Nutanix from $55.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, February 29th. JMP Securities upped their target price on Nutanix from $50.00 to $70.00 and gave the company a “market outperform” rating in a report on Monday, February 5th. William Blair upgraded Nutanix from a “market perform” rating to an “outperform” rating in a report on Wednesday, January 17th. Finally, JPMorgan Chase & Co. increased their price objective on Nutanix from $54.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, February 26th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.17.

Insider Transactions at Nutanix

In other news, insider Tyler Wall sold 15,000 shares of Nutanix stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $62.25, for a total value of $933,750.00. Following the completion of the transaction, the insider now owns 13,168 shares of the company’s stock, valued at approximately $819,708. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, COO David Sangster sold 12,545 shares of Nutanix stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $63.04, for a total value of $790,836.80. Following the completion of the transaction, the chief operating officer now owns 70,192 shares of the company’s stock, valued at approximately $4,424,903.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Tyler Wall sold 15,000 shares of Nutanix stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $62.25, for a total value of $933,750.00. Following the completion of the transaction, the insider now directly owns 13,168 shares of the company’s stock, valued at approximately $819,708. The disclosure for this sale can be found here. Insiders sold a total of 76,477 shares of company stock valued at $4,836,249 in the last quarter. 0.46% of the stock is owned by insiders.

Institutional Investors Weigh In On Nutanix

Several large investors have recently bought and sold shares of NTNX. Bank of New York Mellon Corp increased its holdings in Nutanix by 2.0% in the 1st quarter. Bank of New York Mellon Corp now owns 706,101 shares of the technology company’s stock worth $18,938,000 after buying an additional 13,696 shares in the last quarter. Bank of Montreal Can increased its holdings in Nutanix by 57.0% in the 1st quarter. Bank of Montreal Can now owns 108,342 shares of the technology company’s stock worth $2,939,000 after buying an additional 39,341 shares in the last quarter. MetLife Investment Management LLC bought a new stake in Nutanix in the 1st quarter worth about $371,000. BlackRock Inc. increased its holdings in Nutanix by 1.2% in the 1st quarter. BlackRock Inc. now owns 9,703,410 shares of the technology company’s stock worth $260,245,000 after buying an additional 117,982 shares in the last quarter. Finally, Blair William & Co. IL increased its holdings in Nutanix by 12.4% in the 1st quarter. Blair William & Co. IL now owns 296,205 shares of the technology company’s stock worth $7,944,000 after buying an additional 32,566 shares in the last quarter. 85.25% of the stock is currently owned by institutional investors.

Nutanix Trading Up 1.7 %

The firm has a fifty day moving average of $61.31 and a 200 day moving average of $49.37. The company has a market capitalization of $16.02 billion, a P/E ratio of -182.14 and a beta of 1.29.

Nutanix (NASDAQ:NTNX) last released its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.17 EPS for the quarter. The business had revenue of $565.23 million during the quarter, compared to the consensus estimate of $551.82 million. Sell-side analysts anticipate that Nutanix, Inc. will post -0.05 EPS for the current fiscal year.

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.