A number of other brokerages also recently issued reports on NTNX. Royal Bank of Canada reissued an outperform rating and issued a $38.00 price target on shares of Nutanix in a report on Friday, March 3rd. Needham & Company LLC reissued a buy rating and issued a $36.00 price target on shares of Nutanix in a report on Friday, March 3rd. Morgan Stanley downgraded Nutanix from an equal weight rating to an underweight rating and reduced their target price for the stock from $29.00 to $20.00 in a research note on Friday, March 3rd. Zacks Investment Research raised Nutanix from a sell rating to a hold rating in a research note on Wednesday, February 1st. Finally, Robert W. Baird reaffirmed an outperform rating and set a $37.00 target price on shares of Nutanix in a research note on Tuesday, February 28th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $33.85.
Nutanix (NASDAQ:NTNX) traded up 0.25% during trading on Wednesday, hitting $16.04. 696,242 shares of the stock traded hands. The firm has a 50-day moving average price of $16.79 and a 200 day moving average price of $24.95. The company’s market cap is $2.30 billion. Nutanix has a 52-week low of $14.38 and a 52-week high of $46.78.
Nutanix (NASDAQ:NTNX) last announced its quarterly earnings results on Thursday, March 2nd. The technology company reported ($0.53) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.35) by $0.18. The business had revenue of $182.20 million during the quarter, compared to the consensus estimate of $178.40 million. Nutanix’s quarterly revenue was up 77.4% compared to the same quarter last year. On average, equities analysts expect that Nutanix will post ($1.49) EPS for the current year.
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In related news, major shareholder Lightspeed Venture Partners Vi sold 158,074 shares of the firm’s stock in a transaction that occurred on Thursday, March 30th. The stock was sold at an average price of $18.69, for a total transaction of $2,954,403.06. Following the transaction, the insider now owns 107,474 shares in the company, valued at approximately $2,008,689.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP David Sangster sold 27,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $15.02, for a total value of $405,540.00. Following the transaction, the executive vice president now owns 116,000 shares in the company, valued at approximately $1,742,320. The disclosure for this sale can be found here. Insiders sold a total of 967,609 shares of company stock worth $17,578,813 in the last ninety days.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Picton Mahoney Asset Management bought a new position in shares of Nutanix during the third quarter valued at $185,000. Oppenheimer & Co. Inc. acquired a new stake in Nutanix during the first quarter valued at approximately $211,000. Mark Asset Management Corp acquired a new stake in Nutanix during the third quarter valued at approximately $222,000. Washington Capital Management Inc. acquired a new stake in Nutanix during the first quarter valued at approximately $225,000. Finally, IPG Investment Advisors LLC acquired a new stake in Nutanix during the first quarter valued at approximately $225,000. Institutional investors own 14.81% of the company’s stock.
Nutanix, Inc is a United States-based company, which provides an enterprise cloud platform that converges silos of server, virtualization and storage into an integrated solution. The Company’s enterprise cloud platform connects to public cloud services. It has operations in the United States; Europe, the Middle East and Africa; Asia-Pacific, and Other Americas.
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