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

Nutanix, Inc. (NASDAQ:NTNXGet Free Report) shares hit a new 52-week high 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 trading hands. The stock had previously closed at $58.61.

NTNX has been the topic of several other reports. Morgan Stanley lifted their target price on shares of Nutanix from $38.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 30th. Susquehanna lifted their target price on shares of Nutanix from $48.00 to $60.00 and gave the stock a “positive” rating in a research report on Friday, December 1st. Royal Bank of Canada lifted their target price on shares of Nutanix from $47.00 to $54.00 and gave the stock an “outperform” rating in a research report on Thursday, November 30th. William Blair upgraded shares of Nutanix from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 17th. Finally, StockNews.com downgraded shares of Nutanix from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 12th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $54.00.

Read Our Latest Stock Analysis on NTNX

Insider Activity

In other news, CEO Rajiv Ramaswami sold 87,997 shares of Nutanix stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $40.00, for a total value of $3,519,880.00. Following the completion of the sale, the chief executive officer now owns 386,502 shares in the company, valued at approximately $15,460,080. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Rajiv Ramaswami sold 87,997 shares of Nutanix stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $40.00, for a total value of $3,519,880.00. Following the completion of the sale, the chief executive officer now owns 386,502 shares in the company, valued at approximately $15,460,080. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO David Sangster sold 10,616 shares of Nutanix stock in a transaction on Monday, December 18th. The shares were sold at an average price of $46.04, for a total transaction of $488,760.64. Following the completion of the sale, the chief operating officer now owns 68,471 shares of the company’s stock, valued at approximately $3,152,404.84. The disclosure for this sale can be found here. Insiders sold 245,226 shares of company stock worth $10,796,748 in the last quarter. 0.46% of the stock is owned by corporate insiders.

Institutional Trading of Nutanix

A number of hedge funds and other institutional investors have recently bought and sold shares of NTNX. Norges Bank bought a new stake in Nutanix during the 4th quarter valued at $137,465,000. Jericho Capital Asset Management L.P. bought a new stake in Nutanix during the 3rd quarter valued at $82,421,000. Vanguard Group Inc. increased its stake in Nutanix by 5.0% during the 1st quarter. Vanguard Group Inc. now owns 23,344,292 shares of the technology company’s stock valued at $626,094,000 after purchasing an additional 1,116,856 shares in the last quarter. Champlain Investment Partners LLC increased its stake in Nutanix by 14.5% during the 2nd quarter. Champlain Investment Partners LLC now owns 8,656,391 shares of the technology company’s stock valued at $242,812,000 after purchasing an additional 1,096,110 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Nutanix by 6,627.1% during the 1st quarter. Wellington Management Group LLP now owns 991,370 shares of the technology company’s stock valued at $26,589,000 after purchasing an additional 976,633 shares in the last quarter. Institutional investors own 78.74% of the company’s stock.

Nutanix Stock Performance

The firm has a market cap of $14.11 billion, a P/E ratio of -73.61 and a beta of 1.27. The stock’s 50 day simple moving average is $50.25 and its 200 day simple moving average is $40.39.

Nutanix (NASDAQ:NTNXGet Free Report) last posted its quarterly earnings data on Wednesday, November 29th. The technology company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.11. The firm had revenue of $511.10 million for the quarter, compared to analysts’ expectations of $501.26 million. Nutanix’s revenue was up 17.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.32) earnings per share. As a group, analysts forecast that Nutanix, Inc. will post -0.19 EPS for the current fiscal 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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