Northland Securities Reaffirms “Market Perform” Rating for Nutanix (NASDAQ:NTNX)

Northland Securities reaffirmed their market perform rating on shares of Nutanix (NASDAQ:NTNX) in a research note issued to investors on Wednesday morning,Benzinga reports. Northland Securities currently has a $77.00 target price on the technology company’s stock, up from their prior target price of $74.00.

A number of other research analysts have also recently commented on NTNX. Barclays boosted their price target on Nutanix from $71.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Royal Bank of Canada upped their target price on shares of Nutanix from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Morgan Stanley raised shares of Nutanix from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $71.00 to $72.00 in a research note on Monday, October 28th. JPMorgan Chase & Co. lifted their price target on shares of Nutanix from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Finally, Oppenheimer assumed coverage on Nutanix in a research report on Wednesday, November 13th. They set an “outperform” rating and a $80.00 price objective for the company. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $78.86.

Nutanix Price Performance

NTNX stock opened at $65.28 on Wednesday. The firm has a 50-day moving average of $64.88 and a 200 day moving average of $59.40. The company has a market cap of $17.31 billion, a P/E ratio of -186.51, a PEG ratio of 11.04 and a beta of 1.17. Nutanix has a 1 year low of $42.22 and a 1 year high of $75.80.

Nutanix (NASDAQ:NTNX) last issued its quarterly earnings results on Wednesday, August 28th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The business had revenue of $547.95 million during the quarter, compared to analyst estimates of $537.12 million. Nutanix had a negative return on equity of 12.43% and a negative net margin of 3.54%. On average, equities research analysts expect that Nutanix will post 0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Rukmini Sivaraman sold 24,316 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $58.85, for a total value of $1,430,996.60. Following the transaction, 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 filing with the SEC, which is accessible through the SEC website. Also, COO David Sangster sold 11,950 shares of Nutanix stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $59.83, for a total transaction of $714,968.50. Following the sale, the chief operating officer now directly owns 123,868 shares of the company’s stock, 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 insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Freedom Investment Management Inc. increased its holdings in Nutanix by 4.0% during the third quarter. Freedom Investment Management Inc. now owns 3,883 shares of the technology company’s stock valued at $230,000 after buying an additional 151 shares during the period. CIBC Asset Management Inc increased its holdings in shares of Nutanix by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 7,036 shares of the technology company’s stock valued at $417,000 after acquiring an additional 233 shares during the period. GAMMA Investing LLC raised its position 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 in the last quarter. Paragon Capital Management Inc. lifted its stake in shares of Nutanix by 1.0% during the 3rd quarter. Paragon Capital Management Inc. now owns 26,082 shares of the technology company’s stock worth $1,545,000 after purchasing an additional 258 shares during the last quarter. Finally, Larson Financial Group LLC boosted its position in Nutanix by 122.7% during the third quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock valued at $30,000 after purchasing an additional 281 shares in the last quarter. 85.25% of the stock is currently owned by institutional investors.

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.