Nutanix (NASDAQ:NTNX) Price Target Raised to $63.00 at Morgan Stanley

Nutanix (NASDAQ:NTNX) had its price target increased by Morgan Stanley from $58.00 to $63.00 in a research report sent to investors on Wednesday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the technology company’s stock.

A number of other research firms also recently commented on NTNX. Wells Fargo & Company boosted their target price on Nutanix from $35.00 to $42.00 and gave the stock an equal weight rating in a research report on Thursday, November 30th. TheStreet cut shares of Nutanix from a c rating to a d rating in a research report on Wednesday, November 29th. JMP Securities upped their price target on shares of Nutanix from $50.00 to $70.00 and gave the company a market outperform rating in a research note on Monday, February 5th. Barclays lifted their price objective on shares of Nutanix from $49.00 to $68.00 and gave the stock an overweight rating in a research note on Thursday, February 29th. Finally, Bank of America boosted 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. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of $63.92.

Nutanix Price Performance

Nutanix stock opened at $61.93 on Wednesday. Nutanix has a 1 year low of $23.34 and a 1 year high of $66.99. The firm’s 50 day moving average price is $59.73 and its 200-day moving average price is $47.38. The stock has a market cap of $15.13 billion, a P/E ratio of -172.03 and a beta of 1.29.

Nutanix (NASDAQ:NTNX) last posted its earnings results on Wednesday, February 28th. The technology company reported $0.17 earnings per share for the quarter. The company had revenue of $565.23 million for the quarter, compared to analysts’ expectations of $551.82 million. As a group, equities analysts expect that Nutanix will post -0.07 EPS for the current year.

Insider Activity

In related news, Director Steven J. Gomo sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $64.11, for a total transaction of $1,602,750.00. Following the completion of the sale, the director now directly owns 3,962 shares of the company’s stock, valued at approximately $254,003.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Tyler Wall sold 15,000 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $62.25, for a total value of $933,750.00. Following the transaction, the insider now directly owns 13,168 shares in the company, valued at $819,708. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Steven J. Gomo sold 25,000 shares of Nutanix stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $64.11, for a total transaction of $1,602,750.00. Following the sale, the director now owns 3,962 shares of the company’s stock, valued at approximately $254,003.82. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,477 shares of company stock valued at $4,836,249. 0.46% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nutanix

Hedge funds have recently added to or reduced their stakes in the stock. Cresset Asset Management LLC boosted its holdings in shares of Nutanix by 0.6% in the fourth quarter. Cresset Asset Management LLC now owns 35,114 shares of the technology company’s stock valued at $1,675,000 after purchasing an additional 216 shares during the period. Sonen Capital LLC raised its holdings in shares of Nutanix by 1.8% in the third quarter. Sonen Capital LLC now owns 18,118 shares of the technology company’s stock valued at $632,000 after acquiring an additional 324 shares in the last quarter. M&T Bank Corp raised its holdings in shares of Nutanix by 3.6% in the fourth 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 lifted its stake in Nutanix by 7.8% in the third quarter. CWM LLC now owns 4,527 shares of the technology company’s stock worth $158,000 after acquiring an additional 328 shares during the period. Finally, MetLife Investment Management LLC grew its holdings in Nutanix by 5.3% during the 4th quarter. MetLife Investment Management LLC now owns 9,506 shares of the technology company’s stock worth $248,000 after acquiring an additional 477 shares in the last quarter. 85.25% of the stock is currently owned by institutional investors.

About Nutanix

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.