Nutanix, Inc. (NASDAQ:NTNX – Get Free Report) traded down 2.5% during trading on Wednesday after Bank of America lowered their price target on the stock from $75.00 to $72.00. Bank of America currently has a buy rating on the stock. Nutanix traded as low as $51.55 and last traded at $51.73. 97,233 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 2,681,269 shares. The stock had previously closed at $53.03.
A number of other brokerages have also recently issued reports on NTNX. Raymond James lifted their target price on Nutanix from $72.00 to $76.00 and gave the stock an “outperform” rating in a report on Thursday, May 30th. Northland Securities lowered shares of Nutanix from an “outperform” rating to a “market perform” rating and set a $71.00 price objective for the company. in a research note on Thursday, May 30th. KeyCorp upped their price target on shares of Nutanix from $69.00 to $79.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Royal Bank of Canada lifted their price objective on shares of Nutanix from $72.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 29th. Finally, Barclays reduced their target price on Nutanix from $80.00 to $71.00 and set an “overweight” rating for the company in a report on Tuesday. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $71.85.
Insider Activity
In related news, CEO Rajiv Ramaswami sold 23,986 shares of the company’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $54.19, for a total transaction of $1,299,801.34. Following the completion of the sale, the chief executive officer now directly owns 407,045 shares of the company’s stock, valued at approximately $22,057,768.55. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Rukmini Sivaraman sold 12,566 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $53.22, for a total transaction of $668,762.52. Following the transaction, the chief financial officer now owns 144,902 shares of the company’s stock, valued at $7,711,684.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Rajiv Ramaswami sold 23,986 shares of the stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $54.19, for a total transaction of $1,299,801.34. Following the completion of the sale, the chief executive officer now directly owns 407,045 shares of the company’s stock, valued at $22,057,768.55. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,936 shares of company stock valued at $2,531,273. Insiders own 0.46% of the company’s stock.
Institutional Investors Weigh In On Nutanix
Institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its holdings in shares of Nutanix by 7,970.6% during the 4th quarter. International Assets Investment Management LLC now owns 103,869 shares of the technology company’s stock worth $4,954,000 after purchasing an additional 102,582 shares in the last quarter. Cerity Partners LLC bought a new position in shares of Nutanix during the 4th quarter worth about $236,000. Xponance Inc. lifted its holdings in shares of Nutanix by 6.0% during the 4th quarter. Xponance Inc. now owns 14,690 shares of the technology company’s stock worth $701,000 after acquiring an additional 835 shares during the period. CWM LLC increased its stake in Nutanix by 31.9% in the fourth quarter. CWM LLC now owns 5,970 shares of the technology company’s stock valued at $285,000 after acquiring an additional 1,443 shares during the period. Finally, Handelsbanken Fonder AB raised its position in Nutanix by 1,019.7% in the fourth quarter. Handelsbanken Fonder AB now owns 442,300 shares of the technology company’s stock worth $21,093,000 after purchasing an additional 402,800 shares in the last quarter. 85.25% of the stock is owned by institutional investors and hedge funds.
Nutanix Price Performance
The business’s 50 day simple moving average is $52.55 and its 200 day simple moving average is $58.82. The stock has a market cap of $13.13 billion, a P/E ratio of -760.43, a PEG ratio of 4.45 and a beta of 1.16.
Nutanix (NASDAQ:NTNX – Get Free Report) last released its quarterly earnings data on Wednesday, May 29th. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.12. Nutanix had a negative return on equity of 7.74% and a negative net margin of 0.57%. The firm had revenue of $524.58 million during the quarter, compared to analyst estimates of $516.13 million. Research analysts predict that Nutanix, Inc. will post 0.12 earnings per share for the current year.
About Nutanix
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.