Nutanix (NASDAQ:NTNX) Upgraded at Raymond James

Nutanix (NASDAQ:NTNX) was upgraded by investment analysts at Raymond James from a “market perform” rating to an “outperform” rating in a note issued to investors on Wednesday, MarketBeat.com reports. The firm currently has a $72.00 price objective on the technology company’s stock. Raymond James’ price objective would suggest a potential upside of 10.23% from the company’s current price.

A number of other brokerages also recently commented on NTNX. Piper Sandler upped their price objective on shares of Nutanix from $67.00 to $76.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. StockNews.com downgraded shares of Nutanix from a “strong-buy” rating to a “buy” rating in a report on Friday, January 12th. JMP Securities increased their price target on shares of Nutanix from $50.00 to $70.00 and gave the company a “market outperform” rating in a report on Monday, February 5th. Needham & Company LLC increased their price target on shares of Nutanix from $62.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Finally, Bank of America increased their price target on shares of Nutanix from $55.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $65.69.

Nutanix Stock Performance

Shares of Nutanix stock opened at $65.32 on Wednesday. The company has a market cap of $15.96 billion, a P/E ratio of -181.44 and a beta of 1.27. Nutanix has a one year low of $23.88 and a one year high of $66.99. The firm has a fifty day moving average of $62.90 and a two-hundred day moving average of $52.87.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.17 EPS for the quarter. The firm had revenue of $565.23 million for the quarter, compared to analysts’ expectations of $551.82 million. As a group, equities analysts predict that Nutanix will post -0.04 earnings per share for the current year.

Insider Activity

In related news, insider Tyler Wall sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $62.25, for a total transaction of $933,750.00. Following the sale, the insider now owns 13,168 shares in the company, valued at $819,708. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Nutanix news, insider Tyler Wall sold 15,000 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $62.25, for a total value of $933,750.00. Following the sale, the insider now directly owns 13,168 shares of the company’s stock, valued at approximately $819,708. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Rukmini Sivaraman sold 53,029 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $64.77, for a total transaction of $3,434,688.33. Following the transaction, the chief financial officer now directly owns 144,635 shares of the company’s stock, valued at approximately $9,368,008.95. The disclosure for this sale can be found here. Insiders sold a total of 129,506 shares of company stock valued at $8,270,938 over the last 90 days. Insiders own 0.46% of the company’s stock.

Institutional Trading of Nutanix

Several institutional investors have recently made changes to their positions in the stock. QRG Capital Management Inc. acquired a new position in Nutanix in the first quarter valued at $598,000. Headlands Technologies LLC lifted its stake in shares of Nutanix by 12,369.6% in the 1st quarter. Headlands Technologies LLC now owns 5,736 shares of the technology company’s stock valued at $354,000 after purchasing an additional 5,690 shares in the last quarter. Inspire Investing LLC acquired a new stake in Nutanix during the 1st quarter worth approximately $2,231,000. Donoghue Forlines LLC increased its position in Nutanix by 13.6% during the 1st quarter. Donoghue Forlines LLC now owns 4,851 shares of the technology company’s stock worth $299,000 after purchasing an additional 579 shares in the last quarter. Finally, Concurrent Investment Advisors LLC acquired a new stake in Nutanix during the 1st quarter worth approximately $251,000. 85.25% of the stock is owned by hedge funds and other institutional investors.

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.