Nutanix (NASDAQ:NTNX) Trading 1.2% Higher After Analyst Upgrade

Nutanix, Inc. (NASDAQ:NTNX) shares traded up 1.2% during mid-day trading on Wednesday after Susquehanna raised their price target on the stock from $60.00 to $75.00. Susquehanna currently has a positive rating on the stock. Nutanix traded as high as $65.45 and last traded at $65.29. 177,854 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 2,787,523 shares. The stock had previously closed at $64.50.

Several other equities research analysts also recently weighed in on NTNX. Bank of America increased their price objective on Nutanix from $55.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, February 29th. KeyCorp increased their price objective on Nutanix from $68.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Royal Bank of Canada increased their price objective on Nutanix from $68.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. JPMorgan Chase & Co. increased their price objective on Nutanix from $54.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, February 26th. Finally, Morgan Stanley increased their price objective on Nutanix from $58.00 to $63.00 and gave the company an “equal weight” rating in a report on Wednesday, March 27th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $65.17.

Insiders Place Their Bets

In other Nutanix news, insider Tyler Wall sold 15,000 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $62.25, for a total value of $933,750.00. Following the completion of the transaction, the insider now owns 13,168 shares in the company, valued at $819,708. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Nutanix news, Director Steven J. Gomo sold 25,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $64.11, for a total value of $1,602,750.00. Following the completion of the transaction, the director now owns 3,962 shares in the company, valued at $254,003.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tyler Wall sold 15,000 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $62.25, for a total value of $933,750.00. Following the completion of the transaction, the insider now owns 13,168 shares of the company’s stock, valued at approximately $819,708. The disclosure for this sale can be found here. Over the last quarter, insiders sold 129,506 shares of company stock worth $8,270,938. 0.46% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Cresset Asset Management LLC increased its position 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 buying an additional 216 shares in the last quarter. Sonen Capital LLC increased its position 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 buying an additional 324 shares in the last quarter. M&T Bank Corp increased its position 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 buying an additional 325 shares in the last quarter. CWM LLC increased its position in shares of Nutanix by 7.8% in the third quarter. CWM LLC now owns 4,527 shares of the technology company’s stock valued at $158,000 after buying an additional 328 shares in the last quarter. Finally, MetLife Investment Management LLC increased its position in shares of Nutanix by 5.3% in the fourth quarter. MetLife Investment Management LLC now owns 9,506 shares of the technology company’s stock valued at $248,000 after buying an additional 477 shares in the last quarter. Hedge funds and other institutional investors own 85.25% of the company’s stock.

Nutanix Price Performance

The firm has a market cap of $15.70 billion, a PE ratio of -178.47 and a beta of 1.29. The business has a 50-day moving average price of $61.45 and a two-hundred day moving average price of $49.48.

Nutanix (NASDAQ:NTNX) last posted its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.17 EPS for the quarter. The company had revenue of $565.23 million for the quarter, compared to analysts’ expectations of $551.82 million. Equities analysts expect that Nutanix, Inc. will post -0.05 earnings per share for the current fiscal year.

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.