Nutanix (NASDAQ:NTNX) Reaches New 1-Year High – Still a Buy?

Shares of Nutanix, Inc. (NASDAQ:NTNX) hit a new 52-week high on Monday . The company traded as high as $73.80 and last traded at $73.80, with a volume of 13579 shares. The stock had previously closed at $73.18.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on NTNX shares. Oppenheimer started coverage on shares of Nutanix in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $80.00 price objective for the company. Barclays raised their price target on shares of Nutanix from $71.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Northland Securities lifted their price objective on shares of Nutanix from $71.00 to $74.00 and gave the stock a “market perform” rating in a research note on Friday, August 30th. Needham & Company LLC reissued a “buy” rating and issued a $80.00 target price on shares of Nutanix in a research report on Thursday, August 29th. Finally, Morgan Stanley raised Nutanix from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $71.00 to $72.00 in a research report on Monday, October 28th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $73.86.

Nutanix Trading Down 0.6 %

The company has a fifty day moving average of $64.45 and a 200-day moving average of $59.35. The company has a market capitalization of $19.19 billion, a price-to-earnings ratio of -139.13, a PEG ratio of 12.11 and a beta of 1.17.

Nutanix (NASDAQ:NTNX) last issued its quarterly earnings results on Wednesday, August 28th. The technology company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.02. The firm had revenue of $547.95 million during the quarter, compared to analysts’ expectations of $537.12 million. Nutanix had a negative return on equity of 7.57% and a negative net margin of 5.81%. As a group, equities research analysts expect that Nutanix, Inc. will post 0.31 EPS for the current year.

Insider Transactions at Nutanix

In related news, COO David Sangster sold 11,950 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $59.83, for a total transaction of $714,968.50. Following the transaction, the chief operating officer now directly owns 123,868 shares in the company, valued at approximately $7,411,022.44. The trade was a 8.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Rukmini Sivaraman sold 24,316 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $58.85, for a total transaction of $1,430,996.60. Following the completion of the sale, the chief financial officer now owns 192,169 shares of the company’s stock, 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. Insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Nutanix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Nutanix during the 2nd quarter worth $25,000. ORG Wealth Partners LLC purchased a new position in Nutanix during the third quarter worth about $27,000. Larson Financial Group LLC raised its stake in Nutanix by 122.7% during the third quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock worth $30,000 after purchasing an additional 281 shares during the period. Itau Unibanco Holding S.A. acquired a new position in Nutanix in the 2nd quarter valued at about $32,000. Finally, Advisors Asset Management Inc. grew its stake in shares of Nutanix by 150.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock valued at $32,000 after buying an additional 321 shares during the period. Institutional investors and hedge funds own 85.25% of the company’s stock.

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.