Nutanix (NASDAQ:NTNX) Price Target Lowered to $72.00 at Bank of America

Nutanix (NASDAQ:NTNX – Free Report) had its price objective cut by Bank of America from $75.00 to $72.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the technology company’s stock.

Other analysts have also issued research reports about the company. JPMorgan Chase & Co. upped their target price on Nutanix from $70.00 to $80.00 and gave the company an overweight rating in a report on Friday, May 24th. Needham & Company LLC lifted their target price on shares of Nutanix from $72.00 to $80.00 and gave the stock a buy rating in a research report on Thursday, May 30th. Raymond James increased their price target on shares of Nutanix from $72.00 to $76.00 and gave the company an outperform rating in a research report on Thursday, May 30th. KeyCorp raised their price objective on shares of Nutanix from $69.00 to $79.00 and gave the stock an overweight rating in a research note on Thursday, May 30th. Finally, Royal Bank of Canada upped their target price on Nutanix from $72.00 to $80.00 and gave the company an overweight rating in a research note on Wednesday, May 29th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $71.85.

Check Out Our Latest Report on Nutanix

Nutanix Stock Performance

NTNX stock opened at $53.23 on Wednesday. The stock has a market capitalization of $13.13 billion, a PE ratio of -760.43, a price-to-earnings-growth ratio of 4.45 and a beta of 1.16. Nutanix has a one year low of $29.25 and a one year high of $73.69. The company has a fifty day moving average of $52.55 and a 200-day moving average of $58.82.

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

Insiders Place Their Bets

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

Institutional Trading of Nutanix

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Nutanix by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 25,087,143 shares of the technology company’s stock valued at $1,548,378,000 after buying an additional 346,414 shares during the period. Generation Investment Management LLP grew its holdings in Nutanix by 1.8% during the 4th quarter. Generation Investment Management LLP now owns 17,257,588 shares of the technology company’s stock valued at $823,014,000 after purchasing an additional 300,942 shares in the last quarter. FIL Ltd increased its stake in Nutanix by 74.7% during the 4th quarter. FIL Ltd now owns 8,908,166 shares of the technology company’s stock worth $424,830,000 after buying an additional 3,809,981 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Nutanix by 29.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,358,768 shares of the technology company’s stock worth $269,024,000 after buying an additional 985,421 shares in the last quarter. Finally, Jericho Capital Asset Management L.P. boosted its position in Nutanix by 13.1% in the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,988,923 shares of the technology company’s stock valued at $246,196,000 after buying an additional 462,000 shares during the last quarter. 85.25% of the stock is currently owned by institutional investors and hedge funds.

About Nutanix

(Get Free Report)

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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