Nutanix (NASDAQ:NTNX) Price Target Raised to $29.00 at Barclays

Nutanix (NASDAQ:NTNXGet Rating) had its target price boosted by Barclays to $29.00 in a research note released on Monday morning, Stock Target Advisor reports.

Several other equities research analysts have also issued reports on NTNX. The Goldman Sachs Group increased their target price on shares of Nutanix to $21.00 in a report on Tuesday, September 6th. Northland Securities increased their price objective on shares of Nutanix to $34.00 in a report on Tuesday, September 6th. StockNews.com started coverage on shares of Nutanix in a report on Wednesday, October 12th. They set a hold rating for the company. KeyCorp increased their price objective on shares of Nutanix from $26.00 to $33.00 and gave the company an overweight rating in a report on Monday, October 24th. Finally, Morgan Stanley increased their price objective on shares of Nutanix from $22.00 to $24.00 and gave the company an equal weight rating in a report on Tuesday, October 11th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $27.67.

Nutanix Trading Down 2.2 %

Nutanix stock opened at $27.90 on Monday. The firm has a 50 day moving average of $24.71 and a 200 day moving average of $19.92. The firm has a market capitalization of $6.33 billion, a price-to-earnings ratio of -7.64 and a beta of 1.24. Nutanix has a 12-month low of $13.44 and a 12-month high of $35.56.

Nutanix (NASDAQ:NTNXGet Rating) last released its earnings results on Wednesday, August 31st. The technology company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.21. The firm had revenue of $385.50 million during the quarter, compared to analysts’ expectations of $356.14 million. The company’s revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.68) earnings per share. On average, analysts predict that Nutanix will post -1.41 EPS for the current year.

Insider Activity

In related news, COO David Sangster sold 24,085 shares of the firm’s stock in a transaction on Friday, September 16th. The stock was sold at an average price of $22.93, for a total value of $552,269.05. Following the completion of the sale, the chief operating officer now directly owns 199,763 shares in the company, valued at $4,580,565.59. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, COO David Sangster sold 24,085 shares of the firm’s stock in a transaction on Friday, September 16th. The stock was sold at an average price of $22.93, for a total value of $552,269.05. Following the completion of the sale, the chief operating officer now directly owns 199,763 shares in the company, valued at $4,580,565.59. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Rajiv Ramaswami sold 5,000 shares of Nutanix stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $22.90, for a total value of $114,500.00. Following the sale, the chief executive officer now owns 267,576 shares of the company’s stock, valued at $6,127,490.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 112,852 shares of company stock worth $2,587,546. 0.43% of the stock is currently owned by insiders.

Institutional Trading of Nutanix

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Nutanix by 5.0% during the first quarter. Vanguard Group Inc. now owns 23,344,292 shares of the technology company’s stock worth $626,094,000 after purchasing an additional 1,116,856 shares during the last quarter. BlackRock Inc. lifted its position in shares of Nutanix by 4.0% during the third quarter. BlackRock Inc. now owns 11,272,320 shares of the technology company’s stock worth $234,802,000 after purchasing an additional 432,517 shares during the last quarter. Primecap Management Co. CA increased its stake in shares of Nutanix by 1.8% during the third quarter. Primecap Management Co. CA now owns 6,241,785 shares of the technology company’s stock valued at $130,016,000 after buying an additional 112,900 shares during the period. Champlain Investment Partners LLC increased its stake in shares of Nutanix by 0.5% during the first quarter. Champlain Investment Partners LLC now owns 5,706,755 shares of the technology company’s stock valued at $153,055,000 after buying an additional 28,160 shares during the period. Finally, State Street Corp increased its stake in shares of Nutanix by 6.1% during the first quarter. State Street Corp now owns 3,380,055 shares of the technology company’s stock valued at $90,653,000 after buying an additional 195,522 shares during the period. 77.48% of the stock is currently owned by institutional investors.

Nutanix Company Profile

(Get Rating)

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.

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