Nutanix (NASDAQ:NTNX) Hits New 12-Month High on Analyst Upgrade

Nutanix, Inc. (NASDAQ:NTNXGet Free Report)’s stock price hit a new 52-week high during mid-day trading on Friday after KeyCorp raised their price target on the stock from $60.00 to $68.00. KeyCorp currently has an overweight rating on the stock. Nutanix traded as high as $59.15 and last traded at $58.58, with a volume of 186990 shares traded. The stock had previously closed at $58.61.

A number of other research firms also recently commented on NTNX. Royal Bank of Canada increased their target price on Nutanix from $47.00 to $54.00 and gave the stock an “outperform” rating in a report on Thursday, November 30th. Susquehanna raised their target price on shares of Nutanix from $48.00 to $60.00 and gave the stock a “positive” rating in a report on Friday, December 1st. William Blair raised Nutanix from a “market perform” rating to an “outperform” rating in a report on Wednesday, January 17th. TheStreet downgraded Nutanix from a “c” rating to a “d” rating in a report on Wednesday, November 29th. Finally, StockNews.com downgraded Nutanix from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 12th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

View Our Latest Stock Analysis on Nutanix

Insider Buying and Selling at Nutanix

In other Nutanix news, COO David Sangster sold 10,616 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $46.04, for a total value of $488,760.64. Following the sale, the chief operating officer now owns 68,471 shares in the company, valued at $3,152,404.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO David Sangster sold 10,616 shares of the firm’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $46.04, for a total transaction of $488,760.64. Following the transaction, the chief operating officer now directly owns 68,471 shares of the company’s stock, valued at $3,152,404.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Rajiv Ramaswami sold 24,439 shares of Nutanix stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $46.05, for a total transaction of $1,125,415.95. Following the sale, the chief executive officer now owns 333,519 shares in the company, valued at $15,358,549.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 245,226 shares of company stock worth $10,796,748. 0.46% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NTNX. Sonen Capital LLC lifted its stake in Nutanix by 1.8% during the third quarter. Sonen Capital LLC now owns 18,118 shares of the technology company’s stock valued at $632,000 after buying an additional 324 shares in the last quarter. M&T Bank Corp lifted its position in shares of Nutanix by 3.6% in the 4th quarter. M&T Bank Corp now owns 9,270 shares of the technology company’s stock valued at $442,000 after acquiring an additional 325 shares in the last quarter. CWM LLC boosted its stake in Nutanix by 7.8% in the 3rd quarter. CWM LLC now owns 4,527 shares of the technology company’s stock worth $158,000 after purchasing an additional 328 shares during the period. Bank of Nova Scotia grew its position in Nutanix by 2.9% during the 2nd quarter. Bank of Nova Scotia now owns 13,713 shares of the technology company’s stock worth $385,000 after purchasing an additional 390 shares in the last quarter. Finally, MetLife Investment Management LLC raised its stake in Nutanix by 5.3% during the 4th quarter. MetLife Investment Management LLC now owns 9,506 shares of the technology company’s stock valued at $248,000 after purchasing an additional 477 shares during the period. 78.74% of the stock is currently owned by institutional investors.

Nutanix Price Performance

The company has a market cap of $14.11 billion, a PE ratio of -73.61 and a beta of 1.27. The stock has a fifty day moving average price of $50.25 and a 200-day moving average price of $40.39.

Nutanix (NASDAQ:NTNXGet Free Report) last announced its quarterly earnings data on Wednesday, November 29th. The technology company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.11. The business had revenue of $511.10 million for the quarter, compared to analyst estimates of $501.26 million. During the same quarter in the previous year, the business posted ($0.32) earnings per share. The company’s revenue was up 17.9% compared to the same quarter last year. On average, equities analysts anticipate that Nutanix, Inc. will post -0.19 earnings per share for the current year.

About Nutanix

(Get Free Report)

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.

Further Reading

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