Nutanix (NASDAQ:NTNX) Price Target Cut to $71.00 by Analysts at Barclays

Nutanix (NASDAQ:NTNX – Free Report) had its price target reduced by Barclays from $80.00 to $71.00 in a research note released on Tuesday morning, Benzinga reports. Barclays currently has an overweight rating on the technology company’s stock.

Several other brokerages also recently issued reports on NTNX. Raymond James upped their price target on shares of Nutanix from $72.00 to $76.00 and gave the stock an outperform rating in a report on Thursday, May 30th. Northland Capmk lowered shares of Nutanix from a strong-buy rating to a hold rating in a report on Thursday, May 30th. Northland Securities cut shares of Nutanix from an outperform rating to a market perform rating and set a $71.00 price target for the company. in a research report on Thursday, May 30th. Needham & Company LLC boosted their price objective on shares of Nutanix from $72.00 to $80.00 and gave the stock a buy rating in a research note on Thursday, May 30th. Finally, Morgan Stanley cut their price objective on Nutanix from $72.00 to $62.00 and set an equal weight rating on the stock in a research note on Friday, June 21st. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Nutanix presently has an average rating of Moderate Buy and an average price target of $71.31.

Get Our Latest Report on Nutanix

Nutanix Stock Up 2.0 %

Shares of NTNX stock opened at $53.03 on Tuesday. The business has a fifty day simple moving average of $52.57 and a 200 day simple moving average of $58.86. The company has a market cap of $13.08 billion, a P/E ratio of -757.57, a P/E/G ratio of 4.45 and a beta of 1.16. Nutanix has a twelve month low of $29.25 and a twelve month high of $73.69.

Nutanix (NASDAQ:NTNX – Get Free Report) last posted its earnings results on Wednesday, May 29th. The technology company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.12. The firm had revenue of $524.58 million during the quarter, compared to analysts’ expectations of $516.13 million. Nutanix had a negative net margin of 0.57% and a negative return on equity of 7.74%. As a group, equities research analysts anticipate that Nutanix will post 0.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Rukmini Sivaraman sold 12,566 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $53.22, for a total transaction of $668,762.52. Following the transaction, the chief financial officer now owns 144,902 shares in the company, valued at $7,711,684.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Nutanix news, CFO Rukmini Sivaraman sold 12,566 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $53.22, for a total value of $668,762.52. Following the completion of the sale, the chief financial officer now owns 144,902 shares of the company’s stock, valued at $7,711,684.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO David Sangster sold 10,384 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $54.19, for a total value of $562,708.96. Following the transaction, the chief operating officer now directly owns 64,333 shares in the company, valued at $3,486,205.27. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,936 shares of company stock worth $2,531,273. 0.46% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. GAMMA Investing LLC raised its holdings in shares of Nutanix by 35.2% in the 2nd quarter. GAMMA Investing LLC now owns 933 shares of the technology company’s stock worth $53,000 after acquiring an additional 243 shares during the last quarter. M&T Bank Corp raised its stake 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 worth $442,000 after purchasing an additional 325 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Nutanix by 2.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 18,433 shares of the technology company’s stock valued at $1,138,000 after purchasing an additional 369 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Nutanix by 9.0% during the second quarter. Daiwa Securities Group Inc. now owns 4,500 shares of the technology company’s stock valued at $256,000 after buying an additional 370 shares during the last quarter. Finally, 180 Wealth Advisors LLC boosted its position in shares of Nutanix by 3.6% during the second quarter. 180 Wealth Advisors LLC now owns 10,854 shares of the technology company’s stock valued at $615,000 after buying an additional 374 shares during the last quarter. 85.25% of the stock is owned by institutional investors.

About Nutanix

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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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