Oppenheimer began coverage on shares of Nutanix (NASDAQ:NTNX – Free Report) in a report released on Wednesday, Marketbeat.com reports. The brokerage issued an outperform rating and a $80.00 target price on the technology company’s stock.
Several other analysts have also recently issued reports on the company. Piper Sandler upped their target price on Nutanix from $76.00 to $77.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Morgan Stanley upgraded Nutanix from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $71.00 to $72.00 in a report on Monday, October 28th. Northland Securities increased their price target on Nutanix from $71.00 to $74.00 and gave the stock a “market perform” rating in a report on Friday, August 30th. Raymond James increased their price target on Nutanix from $76.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $80.00 price target on shares of Nutanix in a report on Thursday, August 29th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.86.
View Our Latest Stock Analysis on Nutanix
Nutanix Trading Down 2.2 %
Nutanix (NASDAQ:NTNX – Get Free Report) last issued its earnings results on Wednesday, August 28th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.02. The company had revenue of $547.95 million during the quarter, compared to analysts’ expectations of $537.12 million. Nutanix had a negative return on equity of 7.57% and a negative net margin of 5.81%. On average, analysts forecast that Nutanix will post 0.27 earnings per share for the current year.
Insider Buying and Selling at Nutanix
In other Nutanix news, CFO Rukmini Sivaraman sold 24,316 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $58.85, for a total value of $1,430,996.60. Following the sale, the chief financial officer now owns 192,169 shares of the company’s stock, valued at $11,309,145.65. This trade represents a 11.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO David Sangster sold 11,950 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $59.83, for a total value of $714,968.50. Following the completion of the sale, the chief operating officer now directly owns 123,868 shares in the company, valued at $7,411,022.44. This represents a 8.80 % decrease in their position. The disclosure for this sale can be found here. 6.80% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Nutanix
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC raised its position in shares of Nutanix by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,147,126 shares of the technology company’s stock worth $245,968,000 after acquiring an additional 22,091 shares in the last quarter. Groupama Asset Managment raised its position in shares of Nutanix by 1.0% during the 3rd quarter. Groupama Asset Managment now owns 707,000 shares of the technology company’s stock worth $41,890,000 after acquiring an additional 7,000 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Nutanix during the 3rd quarter worth about $2,690,000. Main Management ETF Advisors LLC acquired a new stake in shares of Nutanix during the 3rd quarter worth about $1,012,000. Finally, XTX Topco Ltd acquired a new stake in shares of Nutanix during the 3rd quarter worth about $2,810,000. Institutional investors and hedge funds own 85.25% of the company’s stock.
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.
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