Nutanix (NASDAQ:NTNX) Now Covered by Analysts at KeyCorp

Equities research analysts at KeyCorp started coverage on shares of Nutanix (NASDAQ:NTNX - Get Free Report) in a report released on Thursday,Briefing.com Automated Import reports. The brokerage set an "overweight" rating and a $95.00 price target on the technology company's stock. KeyCorp's target price indicates a potential upside of 29.39% from the stock's current price.

NTNX has been the topic of several other research reports. Barclays set a $94.00 price objective on shares of Nutanix and gave the company an "overweight" rating in a research note on Thursday, February 27th. Wells Fargo & Company lifted their price objective on Nutanix from $75.00 to $85.00 and gave the company an "equal weight" rating in a research report on Thursday, February 27th. Susquehanna upped their target price on Nutanix from $90.00 to $95.00 and gave the stock a "positive" rating in a research report on Thursday, May 29th. UBS Group raised their price target on Nutanix from $81.00 to $91.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. 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 report on Thursday, May 29th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Nutanix currently has a consensus rating of "Buy" and a consensus price target of $90.71.

Nutanix Trading Down 1.1%

Shares of NTNX opened at $73.42 on Thursday. The stock has a 50 day moving average of $73.92 and a 200-day moving average of $69.52. Nutanix has a 52 week low of $43.35 and a 52 week high of $83.36. The firm has a market cap of $19.68 billion, a price-to-earnings ratio of -262.21, a PEG ratio of 6.75 and a beta of 0.69.

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

Insider Buying and Selling

In related news, Director Groen Max Pieter De sold 5,480,467 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 5,480,468 shares of the company's stock, valued at approximately $420,954,747.08. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Rajiv Ramaswami sold 61,057 shares of the company'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 completion of the transaction, the chief executive officer now owns 497,309 shares of the company's stock, valued at $39,287,411. This trade represents a 10.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,550,624 shares of company stock valued at $426,476,906 in the last 90 days. 6.80% of the stock is owned by insiders.

Institutional Trading of Nutanix

A number of hedge funds and other institutional investors have recently modified their holdings of NTNX. Principal Securities Inc. grew its holdings in Nutanix by 52.4% during the fourth quarter. Principal Securities Inc. now owns 579 shares of the technology company's stock worth $35,000 after purchasing an additional 199 shares during the period. Principal Financial Group Inc. lifted its holdings in Nutanix by 32.4% during the 4th quarter. Principal Financial Group Inc. now owns 23,154 shares of the technology company's stock worth $1,417,000 after purchasing an additional 5,664 shares during the last quarter. Sanctuary Advisors LLC raised its stake in Nutanix by 3.5% in the 4th quarter. Sanctuary Advisors LLC now owns 9,698 shares of the technology company's stock worth $593,000 after purchasing an additional 325 shares in the last quarter. Los Angeles Capital Management LLC raised its position in shares of Nutanix by 2,463.6% in the fourth quarter. Los Angeles Capital Management LLC now owns 209,546 shares of the technology company's stock valued at $12,820,000 after buying an additional 201,372 shares in the last quarter. Finally, Simmons Bank raised its position in shares of Nutanix by 64.5% in the fourth quarter. Simmons Bank now owns 7,075 shares of the technology company's stock valued at $433,000 after buying an additional 2,775 shares in the last quarter. Institutional investors and hedge funds own 85.25% of the company's stock.

About Nutanix

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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