Nutanix (NASDAQ:NTNX) Cut to Buy at Wall Street Zen

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

Other equities research analysts have also recently issued research reports about the company. Raymond James Financial cut Nutanix from an "outperform" rating to a "market perform" rating in a research report on Tuesday, May 20th. Needham & Company LLC restated a "buy" rating and issued a $92.00 price objective on shares of Nutanix in a research note on Thursday, May 29th. Morgan Stanley reiterated an "overweight" rating and issued a $90.00 target price (up from $75.00) on shares of Nutanix in a research note on Tuesday, May 20th. KeyCorp began coverage on shares of Nutanix in a research report on Thursday, June 26th. They set an "overweight" rating and a $95.00 target price for the company. Finally, Susquehanna raised their price target on Nutanix from $90.00 to $95.00 and gave the company a "positive" rating in a research report on Thursday, May 29th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $90.71.

Nutanix Stock Up 1.8%

Shares of NTNX traded up $1.38 during mid-day trading on Monday, hitting $76.81. 1,289,762 shares of the company's stock were exchanged, compared to its average volume of 2,525,046. The stock has a market cap of $20.59 billion, a price-to-earnings ratio of 153.45, a P/E/G ratio of 6.78 and a beta of 0.67. The firm has a fifty day moving average of $75.38 and a two-hundred day moving average of $69.85. Nutanix has a twelve month low of $43.35 and a twelve month high of $83.36.

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

Insider Buying and Selling

In other Nutanix news, Director Groen Max Pieter De sold 5,480,467 shares of Nutanix stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $76.81, for a total transaction of $420,954,670.27. Following the completion of the transaction, the director directly owned 5,480,468 shares of the company's stock, valued at approximately $420,954,747.08. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Virginia Gambale sold 7,000 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $78.00, for a total transaction of $546,000.00. Following the sale, the director owned 38,330 shares of the company's stock, valued at $2,989,740. This trade represents a 15.44% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,552,549 shares of company stock valued at $426,621,281. 6.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NTNX. Twin Tree Management LP bought a new stake in shares of Nutanix during the first quarter valued at approximately $29,000. GW&K Investment Management LLC bought a new position in Nutanix in the 1st quarter valued at $30,000. Harbour Investments Inc. increased its stake in shares of Nutanix by 2,612.5% in the 4th quarter. Harbour Investments Inc. now owns 434 shares of the technology company's stock valued at $27,000 after buying an additional 418 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in shares of Nutanix by 78.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 436 shares of the technology company's stock worth $30,000 after acquiring an additional 191 shares during the last quarter. Finally, Colonial Trust Co SC acquired a new stake in Nutanix in the fourth quarter worth about $28,000. 85.25% of the stock is owned by institutional investors and hedge funds.

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.