Nutanix (NASDAQ:NTNX) Upgraded at Raymond James

Raymond James upgraded shares of Nutanix (NASDAQ:NTNX) from a market perform rating to an outperform rating in a report released on Wednesday morning, MarketBeat.com reports. They currently have $72.00 target price on the technology company’s stock.

A number of other analysts have also weighed in on the company. StockNews.com lowered Nutanix from a strong-buy rating to a buy rating in a research note on Friday, January 12th. JMP Securities raised their price target on shares of Nutanix from $50.00 to $70.00 and gave the stock a market outperform rating in a report on Monday, February 5th. Bank of America increased their target price on shares of Nutanix from $55.00 to $65.00 and gave the stock a buy rating in a report on Thursday, February 29th. Piper Sandler increased their price objective on Nutanix from $67.00 to $76.00 and gave the stock an overweight rating in a report on Thursday, February 29th. Finally, Morgan Stanley lifted their price objective on Nutanix from $58.00 to $63.00 and gave the stock an equal weight rating in a research report on Wednesday, March 27th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $65.69.

Nutanix Stock Performance

NTNX stock opened at $66.21 on Wednesday. The firm has a market cap of $16.18 billion, a P/E ratio of -183.92 and a beta of 1.27. The firm’s fifty day moving average is $63.04 and its 200 day moving average is $52.96. Nutanix has a 52 week low of $24.08 and a 52 week high of $67.19.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.17 earnings per share (EPS) for the quarter. The company had revenue of $565.23 million for the quarter, compared to the consensus estimate of $551.82 million. As a group, analysts forecast that Nutanix will post -0.04 EPS for the current year.

Insider Transactions at Nutanix

In related news, CFO Rukmini Sivaraman sold 53,029 shares of the stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $64.77, for a total transaction of $3,434,688.33. Following the sale, the chief financial officer now directly owns 144,635 shares of the company’s stock, valued at approximately $9,368,008.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Nutanix news, CFO Rukmini Sivaraman sold 53,029 shares of the stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $64.77, for a total transaction of $3,434,688.33. Following the sale, the chief financial officer now directly owns 144,635 shares in the company, valued at approximately $9,368,008.95. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO David Sangster sold 12,545 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $63.04, for a total value of $790,836.80. Following the completion of the transaction, the chief operating officer now owns 70,192 shares of the company’s stock, valued at approximately $4,424,903.68. The disclosure for this sale can be found here. Insiders sold a total of 129,506 shares of company stock valued at $8,270,938 in the last quarter. 0.46% of the stock is owned by insiders.

Institutional Investors Weigh In On Nutanix

Several institutional investors and hedge funds have recently added to or reduced their stakes in NTNX. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Nutanix by 13.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,290 shares of the technology company’s stock worth $1,963,000 after buying an additional 6,716 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Nutanix by 641.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 57,174 shares of the technology company’s stock valued at $1,994,000 after purchasing an additional 49,465 shares during the period. CIBC Asset Management Inc purchased a new stake in shares of Nutanix during the 3rd quarter valued at about $224,000. Precision Wealth Strategies LLC bought a new position in shares of Nutanix in the 3rd quarter worth approximately $354,000. Finally, Teacher Retirement System of Texas boosted its holdings in shares of Nutanix by 13.4% in the third quarter. Teacher Retirement System of Texas now owns 82,950 shares of the technology company’s stock worth $2,893,000 after buying an additional 9,792 shares during the last quarter. Hedge funds and other institutional investors own 85.25% of the company’s stock.

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.