Nutanix (NASDAQ:NTNX) Coverage Initiated at Oppenheimer

Oppenheimer initiated coverage on shares of Nutanix (NASDAQ:NTNX) in a research report report published on Wednesday morning, Marketbeat reports. The brokerage issued an outperform rating and a $80.00 target price on the technology company’s stock.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. raised their price target on shares of Nutanix from $65.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Northland Securities raised their target price on Nutanix from $71.00 to $74.00 and gave the stock a “market perform” rating in a research report on Friday, August 30th. Royal Bank of Canada lifted their target price on Nutanix from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Piper Sandler increased their price target on Nutanix from $76.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Finally, Raymond James lifted their price objective on Nutanix from $76.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.86.

Nutanix Stock Down 2.2 %

NASDAQ NTNX opened at $69.53 on Wednesday. The company has a market cap of $18.44 billion, a price-to-earnings ratio of -133.71, a price-to-earnings-growth ratio of 14.53 and a beta of 1.17. Nutanix has a twelve month low of $38.60 and a twelve month high of $73.69. The business’s fifty day moving average is $62.90 and its 200 day moving average is $59.10.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings results on Wednesday, August 28th. The technology company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. Nutanix had a negative return on equity of 7.57% and a negative net margin of 5.81%. The firm had revenue of $547.95 million for the quarter, compared to analyst estimates of $537.12 million. On average, research analysts anticipate that Nutanix will post 0.27 earnings per share for the current fiscal year.

Insider Activity at Nutanix

In related news, COO David Sangster sold 11,950 shares of Nutanix stock in a transaction on 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 owns 123,868 shares of the company’s stock, valued at approximately $7,411,022.44. This trade represents a 8.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Rukmini Sivaraman sold 24,316 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $58.85, for a total transaction of $1,430,996.60. Following the transaction, the chief financial officer now owns 192,169 shares in the company, valued at approximately $11,309,145.65. The trade was a 11.23 % decrease in their position. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Nutanix during the 2nd quarter valued at about $25,000. ORG Wealth Partners LLC bought a new position in shares of Nutanix in the third quarter valued at approximately $27,000. Larson Financial Group LLC lifted its holdings in shares of Nutanix by 122.7% in 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. Itau Unibanco Holding S.A. purchased a new position in shares of Nutanix during the second quarter valued at approximately $32,000. Finally, Advisors Asset Management Inc. grew its holdings in Nutanix by 150.7% during the third quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock worth $32,000 after buying an additional 321 shares in the last quarter. 85.25% of the stock is currently owned by institutional investors and hedge funds.

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.