Nutanix (NASDAQ:NTNX) Downgraded to "Buy" Rating by Wall Street Zen

Nutanix (NASDAQ:NTNX - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued on Monday.

A number of other equities analysts also recently commented on NTNX. Susquehanna boosted their price objective on shares of Nutanix from $90.00 to $95.00 and gave the stock a "positive" rating in a research note on Thursday, May 29th. Needham & Company LLC reiterated a "buy" rating and issued a $92.00 price target on shares of Nutanix in a report on Thursday, May 29th. Morgan Stanley restated an "overweight" rating and set a $90.00 price objective (up from $75.00) on shares of Nutanix in a research note on Tuesday, May 20th. KeyCorp initiated coverage on Nutanix in a research report on Thursday. They set an "overweight" rating and a $95.00 price objective on the stock. Finally, Piper Sandler reiterated an "overweight" rating and issued a $88.00 target price (up previously from $76.00) on shares of Nutanix in a research note on Thursday, May 29th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Nutanix presently has a consensus rating of "Moderate Buy" and an average target price of $90.71.

Nutanix Trading Up 0.0%

NTNX opened at $75.29 on Monday. The company has a market capitalization of $20.18 billion, a price-to-earnings ratio of 153.65, a PEG ratio of 6.79 and a beta of 0.68. Nutanix has a 12-month low of $43.35 and a 12-month high of $83.36. The business's fifty day simple moving average is $74.47 and its 200-day simple moving average is $69.70.

Nutanix (NASDAQ:NTNX - Get Free Report) last issued its earnings results on Wednesday, June 4th. The technology company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.04. Nutanix had a net margin of 0.97% and a negative return on equity of 21.32%. The company had revenue of $638.98 million for the quarter, compared to analysts' expectations of $626.12 million. During the same period in the prior year, the business earned $0.28 EPS. The firm's quarterly revenue was up 21.8% on a year-over-year basis. On average, equities research analysts predict that Nutanix will post 0.31 EPS for the current year.

Insider Activity at Nutanix

In other Nutanix news, CEO Rajiv Ramaswami sold 61,057 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $79.00, for a total transaction of $4,823,503.00. Following the sale, the chief executive officer now owns 497,309 shares of the company's stock, valued at approximately $39,287,411. The trade was a 10.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Groen Max Pieter De sold 5,480,467 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $76.81, for a total transaction of $420,954,670.27. Following the sale, the director now directly owns 5,480,468 shares in the company, valued at $420,954,747.08. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,552,549 shares of company stock valued at $426,621,281 in the last three months. 6.80% of the stock is owned by insiders.

Institutional Trading of Nutanix

Several large investors have recently added to or reduced their stakes in the company. Swedbank AB purchased a new position in shares of Nutanix in the first quarter worth about $1,642,000. Sheets Smith Investment Management acquired a new position in Nutanix in the 1st quarter worth approximately $981,000. Inspire Investing LLC raised its position in Nutanix by 43.1% during the 1st quarter. Inspire Investing LLC now owns 41,472 shares of the technology company's stock worth $2,895,000 after buying an additional 12,489 shares during the last quarter. Reliant Investment Partners LLC acquired a new stake in Nutanix during the 1st quarter valued at approximately $223,000. Finally, IFM Investors Pty Ltd lifted its stake in Nutanix by 4.6% during the 1st quarter. IFM Investors Pty Ltd now owns 48,745 shares of the technology company's stock valued at $3,403,000 after acquiring an additional 2,159 shares during the period. Hedge funds and other institutional investors own 85.25% of the company's stock.

Nutanix Company Profile

Nutanix, Inc engages in the provision of a cloud platform leveraging web-scale engineering and consumer-grade design. It operates through the following geographic segments: United States, Europe, the Middle East, Africa, Asia Pacific, and Other Americas. The firm also provides software solutions and cloud services to customers' enterprise infrastructure.

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