Brokerages Set Nutanix, Inc. (NASDAQ:NTNX) Target Price at $65.17

Shares of Nutanix, Inc. (NASDAQ:NTNX) have been assigned a consensus rating of “Moderate Buy” from the fourteen analysts that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $65.17.

NTNX has been the topic of several research reports. Morgan Stanley boosted their price objective on shares of Nutanix from $58.00 to $63.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 27th. Bank of America lifted their price target on shares of Nutanix from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. JPMorgan Chase & Co. raised their price objective on shares of Nutanix from $54.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, February 26th. William Blair upgraded Nutanix from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 17th. Finally, Barclays lifted their target price on shares of Nutanix from $49.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th.

Nutanix Trading Up 0.6 %

Nutanix stock opened at $65.32 on Friday. Nutanix has a 52 week low of $23.88 and a 52 week high of $66.99. The stock has a market cap of $15.96 billion, a price-to-earnings ratio of -181.44 and a beta of 1.27. The company’s 50-day moving average price is $62.90 and its two-hundred day moving average price is $52.87.

Nutanix (NASDAQ:NTNX) last released its quarterly earnings results on Wednesday, February 28th. The technology company reported $0.17 earnings per share (EPS) for the quarter. The firm had revenue of $565.23 million for the quarter, compared to analyst estimates of $551.82 million. Research analysts expect that Nutanix will post -0.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Nutanix

In other news, insider Tyler Wall sold 15,000 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $62.25, for a total value of $933,750.00. Following the transaction, the insider now owns 13,168 shares of the company’s stock, valued at $819,708. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Tyler Wall sold 15,000 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $62.25, for a total transaction of $933,750.00. Following the transaction, the insider now directly owns 13,168 shares in the company, valued at approximately $819,708. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven J. Gomo sold 25,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $64.11, for a total value of $1,602,750.00. Following the completion of the sale, the director now owns 3,962 shares of the company’s stock, valued at $254,003.82. The disclosure for this sale can be found here. Over the last quarter, insiders sold 129,506 shares of company stock valued at $8,270,938. Company insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On Nutanix

Several institutional investors have recently made changes to their positions in NTNX. Atlantic Edge Private Wealth Management LLC purchased a new stake in Nutanix in the 4th quarter valued at $29,000. GAMMA Investing LLC purchased a new position in Nutanix during the 4th quarter worth $30,000. Kapitalo Investimentos Ltda acquired a new position in Nutanix in the 4th quarter valued at $37,000. BluePath Capital Management LLC purchased a new position in Nutanix in the third quarter worth $31,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Nutanix during the fourth quarter worth $40,000. 85.25% of the stock is owned by hedge funds and other institutional investors.

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.