Nutanix (NASDAQ:NTNX) Downgraded by Wall Street Zen to Buy

Nutanix (NASDAQ:NTNX) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Monday.

NTNX has been the topic of a number of other reports. Raymond James Financial downgraded shares of Nutanix from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 20th. Morgan Stanley reiterated an “overweight” rating and set a $90.00 price target (up previously from $75.00) on shares of Nutanix in a research report on Tuesday, May 20th. Needham & Company LLC restated a “buy” rating and set a $92.00 price objective on shares of Nutanix in a research report on Thursday, May 29th. Piper Sandler restated an “overweight” rating and set a $88.00 target price (up from $76.00) on shares of Nutanix in a research note on Thursday, May 29th. Finally, Susquehanna raised their target price on Nutanix from $90.00 to $95.00 and gave the company a “positive” rating in a report on Thursday, May 29th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $90.71.

Nutanix Price Performance

Shares of NASDAQ:NTNX opened at $75.19 on Monday. The company has a market capitalization of $20.16 billion, a P/E ratio of 156.00, a P/E/G ratio of 6.89 and a beta of 0.67. Nutanix has a 1 year low of $43.35 and a 1 year high of $83.36. The business’s 50 day simple moving average is $75.13 and its 200 day simple moving average is $69.81.

Nutanix (NASDAQ:NTNX) last released its earnings results on Wednesday, June 4th. The technology company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.04. The firm had revenue of $638.98 million during the quarter, compared to the consensus estimate of $626.12 million. Nutanix had a negative return on equity of 21.32% and a net margin of 0.97%. The company’s revenue was up 21.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.28 EPS. On average, sell-side analysts anticipate that Nutanix will post 0.31 EPS for the current fiscal year.

Insider Activity at Nutanix

In other news, CFO Rukmini Sivaraman sold 2,100 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $72.73, for a total value of $152,733.00. Following the completion of the transaction, the chief financial officer directly owned 209,070 shares in the company, valued at approximately $15,205,661.10. This represents a 0.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Virginia Gambale sold 7,000 shares of the firm’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $78.00, for a total value of $546,000.00. Following the sale, the director directly owned 38,330 shares in the company, valued at approximately $2,989,740. This trade represents a 15.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,552,549 shares of company stock valued at $426,621,281 over the last three months. 6.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Nutanix

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Nutanix by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 25,636,598 shares of the technology company’s stock valued at $1,568,447,000 after buying an additional 146,854 shares during the period. Renaissance Technologies LLC grew its holdings in Nutanix by 6.5% during the 4th quarter. Renaissance Technologies LLC now owns 4,418,900 shares of the technology company’s stock worth $270,348,000 after acquiring an additional 268,400 shares during the last quarter. Geode Capital Management LLC increased its position in Nutanix by 4.0% in the 4th quarter. Geode Capital Management LLC now owns 4,311,000 shares of the technology company’s stock valued at $263,275,000 after acquiring an additional 163,874 shares during the period. Jericho Capital Asset Management L.P. increased its position in Nutanix by 46.8% in the 1st quarter. Jericho Capital Asset Management L.P. now owns 4,102,993 shares of the technology company’s stock valued at $286,430,000 after acquiring an additional 1,308,357 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of Nutanix by 65.5% during the first quarter. AQR Capital Management LLC now owns 3,604,005 shares of the technology company’s stock valued at $246,874,000 after acquiring an additional 1,426,049 shares during the last quarter. 85.25% of the stock is currently owned by institutional investors.

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.