Nutanix (NASDAQ:NTNX) had its price objective increased by equities researchers at Morgan Stanley from $32.00 to $35.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an "equal weight" rating on the technology company's stock. Morgan Stanley's price objective would indicate a potential upside of 17.49% from the company's current price.
Several other research firms also recently commented on NTNX. JPMorgan Chase & Co. increased their price objective on shares of Nutanix from $22.00 to $25.00 and gave the company a "neutral" rating in a report on Tuesday, November 24th. Royal Bank of Canada increased their target price on shares of Nutanix from $29.00 to $34.00 and gave the stock an "outperform" rating in a report on Tuesday, November 24th. Wells Fargo & Company lifted their price target on Nutanix from $35.00 to $40.00 in a report on Thursday. Oppenheimer upgraded shares of Nutanix from a "market perform" rating to an "outperform" rating in a research note on Monday, December 14th. Finally, The Goldman Sachs Group upgraded Nutanix from a "sell" rating to a "neutral" rating and boosted their price target for the company from $18.00 to $32.00 in a research note on Tuesday, November 24th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Nutanix has an average rating of "Buy" and an average target price of $34.60.
Shares of NTNX stock opened at $29.79 on Friday. The company has a market cap of $6.00 billion, a price-to-earnings ratio of -6.48 and a beta of 1.97. Nutanix has a 1 year low of $11.31 and a 1 year high of $35.58. The firm has a fifty day moving average price of $32.56 and a 200-day moving average price of $27.66.
Nutanix (NASDAQ:NTNX) last released its earnings results on Wednesday, February 24th. The technology company reported ($0.37) earnings per share for the quarter, beating the Thomson Reuters' 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%. As a group, sell-side analysts expect that Nutanix will post -3.9 earnings per share for the current fiscal year.
In related news, COO David Sangster sold 7,918 shares of the company's stock in a transaction that occurred on Friday, December 11th. The stock was sold at an average price of $30.32, for a total value of $240,073.76. Following the completion of the transaction, the chief operating officer now directly owns 84,728 shares of the company's stock, valued at $2,568,952.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Aaron Boynton sold 2,920 shares of the stock in a transaction that occurred on Wednesday, December 16th. The shares were sold at an average price of $31.73, for a total transaction of $92,651.60. Following the completion of the transaction, the chief accounting officer now owns 21,644 shares in the company, valued at $686,764.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 81,380 shares of company stock valued at $2,567,785. Insiders own 6.66% of the company's stock.
A number of institutional investors and hedge funds have recently made changes to their positions in NTNX. First Trust Advisors LP lifted its holdings in shares of Nutanix by 4.4% in the 3rd quarter. First Trust Advisors LP now owns 3,879,252 shares of the technology company's stock valued at $86,042,000 after purchasing an additional 164,696 shares during the last quarter. Primecap Management Co. CA increased its position in Nutanix by 6.2% during the fourth quarter. Primecap Management Co. CA now owns 2,873,585 shares of the technology company's stock worth $91,581,000 after buying an additional 168,100 shares during the period. New York State Common Retirement Fund lifted its stake in Nutanix by 7.6% in the third quarter. New York State Common Retirement Fund now owns 1,650,116 shares of the technology company's stock valued at $36,600,000 after buying an additional 116,127 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings 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 acquiring an additional 56,807 shares during the period. Finally, Northern Trust Corp grew its position in shares of Nutanix by 3.5% during the fourth quarter. Northern Trust Corp now owns 1,007,266 shares of the technology company's stock worth $32,102,000 after acquiring an additional 34,125 shares during the last quarter. 66.96% of the stock is owned by hedge funds and other institutional investors.
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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