Nutanix (NASDAQ:NTNX) Coverage Initiated by Analysts at KeyCorp

Equities research analysts at KeyCorp assumed coverage on shares of Nutanix (NASDAQ:NTNX) in a note issued to investors on Thursday,Briefing.com Automated Import reports. The firm set an “overweight” rating and a $95.00 price target on the technology company’s stock. KeyCorp’s price objective points to a potential upside of 29.39% from the company’s previous close.

A number of other analysts have also recently commented on NTNX. Royal Bank Of Canada upped their price target on shares of Nutanix from $83.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. Barclays set a $94.00 price objective on Nutanix and gave the company an “overweight” rating in a research note on Thursday, February 27th. Northland Capmk raised Nutanix from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 27th. Oppenheimer lifted their target price on Nutanix from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. Finally, Susquehanna increased their price target on Nutanix from $90.00 to $95.00 and gave the stock a “positive” rating in a report on Thursday, May 29th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Nutanix presently has an average rating of “Buy” and a consensus price target of $90.71.

Nutanix Price Performance

NTNX stock opened at $73.42 on Thursday. The stock has a market cap of $19.68 billion, a price-to-earnings ratio of -262.21, a P/E/G ratio of 6.75 and a beta of 0.69. The company has a 50 day simple moving average of $73.92 and a 200 day simple moving average of $69.52. Nutanix has a 1 year low of $43.35 and a 1 year high of $83.36.

Nutanix (NASDAQ:NTNX) last issued its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. The company had revenue of $638.98 million for the quarter, compared to analyst estimates of $626.12 million. Nutanix had a net margin of 0.97% and a negative return on equity of 21.32%. Nutanix’s revenue was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.28 earnings per share. On average, equities research analysts anticipate that Nutanix will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Groen Max Pieter De sold 5,480,467 shares of the business’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $76.81, for a total transaction of $420,954,670.27. Following the completion of the transaction, the director now directly owns 5,480,468 shares in the company, valued at $420,954,747.08. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Rukmini Sivaraman sold 2,100 shares of the business’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $72.73, for a total transaction of $152,733.00. Following the completion of the transaction, the chief financial officer now directly owns 209,070 shares of the company’s stock, valued at approximately $15,205,661.10. This represents a 0.99% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,550,624 shares of company stock worth $426,476,906. Insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Nutanix

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Harbour Investments Inc. raised its holdings in shares of Nutanix by 2,612.5% during the 4th quarter. Harbour Investments Inc. now owns 434 shares of the technology company’s stock worth $27,000 after acquiring an additional 418 shares in the last quarter. Colonial Trust Co SC bought a new stake in shares of Nutanix in the 4th quarter valued at about $28,000. Twin Tree Management LP bought a new stake in Nutanix during the first quarter valued at about $29,000. MassMutual Private Wealth & Trust FSB raised its position in shares of Nutanix by 78.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 436 shares of the technology company’s stock valued at $30,000 after purchasing an additional 191 shares during the last quarter. Finally, GW&K Investment Management LLC acquired a new position in Nutanix in the 1st quarter worth approximately $30,000. Hedge funds and other institutional investors own 85.25% of the company’s stock.

Nutanix Company Profile

Nutanix, Inc engages in the provision of a cloud platform leveraging web-scale engineering and consumer-grade design. It operates through the following geographic segments: United States, Europe, the Middle East, Africa, Asia Pacific, and Other Americas. The firm also provides software solutions and cloud services to customers’ enterprise infrastructure.