Nutanix (NASDAQ:NTNX) Shares Gap Up After Analyst Upgrade

Nutanix, Inc. (NASDAQ:NTNX)’s share price gapped up prior to trading on Wednesday after Barclays raised their price target on the stock from $75.00 to $87.00. The stock had previously closed at $72.35, but opened at $76.04. Barclays currently has an overweight rating on the stock. Nutanix shares last traded at $76.04, with a volume of 54,210 shares changing hands.

A number of other equities analysts have also recently issued reports on the company. Morgan Stanley raised Nutanix from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $71.00 to $72.00 in a report on Monday, October 28th. Raymond James increased their target price on Nutanix from $76.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Bank of America increased their price target on Nutanix from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Oppenheimer assumed coverage on Nutanix in a research report on Wednesday, November 13th. They set an “outperform” rating and a $80.00 price target on the stock. Finally, Piper Sandler increased their price target on Nutanix from $76.00 to $77.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $75.64.

Insider Buying and Selling at Nutanix

In other news, COO David Sangster sold 11,950 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $59.83, for a total value of $714,968.50. Following the completion of the transaction, the chief operating officer now owns 123,868 shares in the company, valued at $7,411,022.44. This trade represents a 8.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Rukmini Sivaraman sold 24,316 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $58.85, for a total value of $1,430,996.60. Following the completion of the transaction, the chief financial officer now owns 192,169 shares of the company’s stock, valued at $11,309,145.65. The trade was a 11.23 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Nutanix

Several hedge funds have recently modified their holdings of the stock. Tidal Investments LLC grew its holdings 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 acquiring an additional 862 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Nutanix during the third quarter worth about $111,000. Sanctuary Advisors LLC bought a new position in Nutanix during the third quarter worth about $555,000. Geode Capital Management LLC grew its holdings in Nutanix by 0.5% during the third quarter. Geode Capital Management LLC now owns 4,147,126 shares of the technology company’s stock worth $245,968,000 after purchasing an additional 22,091 shares during the period. Finally, Groupama Asset Managment grew its holdings in Nutanix by 1.0% during the third quarter. Groupama Asset Managment now owns 707,000 shares of the technology company’s stock worth $41,890,000 after purchasing an additional 7,000 shares during the period. Institutional investors own 85.25% of the company’s stock.

Nutanix Stock Down 2.1 %

The firm has a market cap of $18.79 billion, a P/E ratio of -146.23, a PEG ratio of 12.05 and a beta of 1.17. The business has a fifty day moving average of $64.45 and a 200 day moving average of $59.35.

Nutanix (NASDAQ:NTNX) last posted its quarterly earnings results on Wednesday, August 28th. The technology company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. Nutanix had a negative return on equity of 7.57% and a negative net margin of 5.81%. The business had revenue of $547.95 million during the quarter, compared to analysts’ expectations of $537.12 million. Research analysts expect that Nutanix, Inc. will post 0.31 EPS for the current 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.