Nutanix (NASDAQ:NTNX) had its price target decreased by research analysts at Morgan Stanley from $35.00 to $30.00 in a note issued to investors on Thursday, Stock Target Advisor reports. The firm currently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s price objective points to a potential upside of 6.95% from the company’s current price.
A number of other brokerages also recently issued reports on NTNX. Needham & Company LLC raised their price objective on Nutanix from $37.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, March 3rd. Oppenheimer restated a “buy” rating and set a $40.00 price objective on shares of Nutanix in a research report on Tuesday, March 9th. Wells Fargo & Company lifted their target price on Nutanix from $35.00 to $40.00 in a report on Thursday, February 25th. KeyCorp lifted their target price on Nutanix from $37.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, March 3rd. Finally, Northland Securities reiterated a “buy” rating on shares of Nutanix in a report on Tuesday, February 23rd. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $34.71.
Shares of NTNX traded up $0.79 during mid-day trading on Thursday, reaching $28.05. 41,040 shares of the company were exchanged, compared to its average volume of 1,821,854. Nutanix has a 52 week low of $15.63 and a 52 week high of $35.58. The stock has a market capitalization of $5.73 billion, a PE ratio of -6.09 and a beta of 1.97. The business has a 50 day simple moving average of $28.54 and a two-hundred day simple moving average of $28.45.
Nutanix (NASDAQ:NTNX) last issued its quarterly earnings data on Wednesday, February 24th. The technology company reported ($0.37) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.92) by $0.55. Nutanix had a negative return on equity of 1,175,319.00% and a negative net margin of 69.59%. Equities research analysts predict that Nutanix will post -3.9 EPS for the current fiscal year.
In other Nutanix news, major shareholder Dheeraj Pandey sold 1,210,000 shares of the business’s stock in a transaction on Tuesday, March 9th. The stock was sold at an average price of $26.50, for a total value of $32,065,000.00. Following the transaction, the insider now owns 886,000 shares of the company’s stock, valued at $23,479,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Aaron Boynton sold 3,166 shares of the business’s stock in a transaction on Tuesday, March 16th. The shares were sold at an average price of $26.85, for a total value of $85,007.10. Following the completion of the sale, the chief accounting officer now owns 26,880 shares in the company, valued at $721,728. The disclosure for this sale can be found here. In the last three months, insiders sold 1,252,555 shares of company stock worth $33,207,602. Insiders own 6.66% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the business. Primecap Management Co. CA raised its stake in shares of Nutanix by 6.2% in the fourth quarter. Primecap Management Co. CA now owns 2,873,585 shares of the technology company’s stock valued at $91,581,000 after buying an additional 168,100 shares during the period. Norges Bank bought a new stake in shares of Nutanix in the fourth quarter valued at $80,535,000. Charles Schwab Investment Management Inc. raised its stake in shares of Nutanix by 4.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,345,403 shares of the technology company’s stock valued at $42,878,000 after buying an additional 56,807 shares during the period. Northern Trust Corp raised its stake in shares of Nutanix by 3.5% in the fourth quarter. Northern Trust Corp now owns 1,007,266 shares of the technology company’s stock valued at $32,102,000 after buying an additional 34,125 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Nutanix by 7.0% in the fourth quarter. Bank of New York Mellon Corp now owns 646,047 shares of the technology company’s stock valued at $20,589,000 after buying an additional 42,231 shares during the period. Hedge funds and other institutional investors own 66.96% of the company’s stock.
Nutanix, Inc develops and provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. The company offers Acropolis, an enterprise cloud platform that converges virtualization, enterprise storage services, and networking services; Nutanix Prism, a consumer-grade control plane, which provides management and analytics; and Acropolis Hypervisor, an enterprise-grade virtualization solution.
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