Nutanix (NASDAQ:NTNX) Given Market Perform Rating at Northland Securities

Northland Securities restated their market perform rating on shares of Nutanix (NASDAQ:NTNX) in a research report report published on Wednesday morning,Benzinga reports. Northland Securities currently has a $77.00 target price on the technology company’s stock, up from their previous target price of $74.00.

Other equities research analysts have also issued reports about the company. Needham & Company LLC reiterated a “buy” rating and issued a $80.00 price objective on shares of Nutanix in a research report on Thursday, August 29th. Bank of America lifted their price target on shares of Nutanix from $72.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Barclays upped their price objective on shares of Nutanix from $71.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Piper Sandler raised their target price on Nutanix from $76.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Finally, Royal Bank of Canada increased their price objective on Nutanix from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Nutanix presently has a consensus rating of “Moderate Buy” and an average price target of $78.86.

Nutanix Stock Down 7.8 %

Shares of NTNX opened at $66.70 on Wednesday. The stock has a market capitalization of $17.69 billion, a P/E ratio of -128.27, a PEG ratio of 12.05 and a beta of 1.17. Nutanix has a twelve month low of $40.44 and a twelve month high of $75.80. The firm has a fifty day simple moving average of $64.64 and a two-hundred day simple moving average of $59.40.

Nutanix (NASDAQ:NTNX) last posted its earnings results on Wednesday, August 28th. The technology company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. Nutanix had a negative net margin of 5.81% and a negative return on equity of 7.57%. The company had revenue of $547.95 million during the quarter, compared to analyst estimates of $537.12 million. Sell-side analysts expect that Nutanix will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling at Nutanix

In related news, CFO Rukmini Sivaraman sold 24,316 shares of the business’s stock in a transaction that occurred on 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 directly owns 192,169 shares in the company, valued at approximately $11,309,145.65. The trade was a 11.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO David Sangster sold 11,950 shares of the company’s 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 approximately $7,411,022.44. This represents a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Nutanix

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Freedom Investment Management Inc. increased its stake in shares of Nutanix by 4.0% in the third quarter. Freedom Investment Management Inc. now owns 3,883 shares of the technology company’s stock worth $230,000 after purchasing an additional 151 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in Nutanix by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 7,036 shares of the technology company’s stock worth $417,000 after buying an additional 233 shares during the period. GAMMA Investing LLC increased its stake in 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 buying an additional 243 shares in the last quarter. Paragon Capital Management Inc. raised its holdings in Nutanix by 1.0% during the third quarter. Paragon Capital Management Inc. now owns 26,082 shares of the technology company’s stock valued at $1,545,000 after acquiring an additional 258 shares during the period. Finally, Larson Financial Group LLC lifted its position 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 acquiring an additional 281 shares in the last quarter. Institutional investors 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.