Nutanix (NASDAQ:NTNX) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Nutanix has been given an average rating of "Moderate Buy" by analysts, with thirteen out of sixteen brokerages issuing buy ratings and an average one-year price target of $91.00.
• CEO Rajiv Ramaswami recently sold 61,057 shares of Nutanix stock for approximately $4.82 million, resulting in a notable decrease in his ownership stake.
• The company's quarterly earnings showed a revenue of $638.98 million, surpassing analysts' estimates, with a year-over-year revenue increase of 21.8%.

Shares of Nutanix (NASDAQ:NTNX - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the sixteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two research 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. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $91.00.

A number of equities analysts have recently weighed in on the stock. The Goldman Sachs Group initiated coverage on shares of Nutanix in a research report on Tuesday, July 15th. They set a "buy" rating and a $95.00 price target on the stock. Raymond James Financial lowered shares of Nutanix from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 20th. Susquehanna upped their price target on shares of Nutanix from $90.00 to $95.00 and gave the company a "positive" rating in a research note on Thursday, May 29th. Wall Street Zen downgraded shares of Nutanix from a "strong-buy" rating to a "buy" rating in a report on Monday, June 30th. Finally, Piper Sandler reissued an "overweight" rating and issued a $88.00 price objective (up previously from $76.00) on shares of Nutanix in a report on Thursday, May 29th.

Insider Buying and Selling at Nutanix

In other news, Director Groen Max Pieter De sold 5,480,467 shares of the 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 completion of the sale, the director directly owned 5,480,468 shares in the company, valued at $420,954,747.08. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Rajiv Ramaswami sold 61,057 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $79.00, for a total transaction of $4,823,503.00. Following the transaction, the chief executive officer directly owned 497,309 shares in the company, valued at approximately $39,287,411. This represents a 10.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,552,549 shares of company stock valued at $426,621,281. Insiders own 6.80% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. HighTower Advisors LLC bought a new position in shares of Nutanix in the fourth quarter valued at $234,000. Commonwealth Equity Services LLC lifted its stake in shares of Nutanix by 2.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 19,933 shares of the technology company's stock valued at $1,220,000 after buying an additional 544 shares in the last quarter. LPL Financial LLC lifted its stake in shares of Nutanix by 4.8% in the fourth quarter. LPL Financial LLC now owns 71,732 shares of the technology company's stock valued at $4,389,000 after buying an additional 3,276 shares in the last quarter. EntryPoint Capital LLC bought a new position in shares of Nutanix in the fourth quarter valued at $205,000. Finally, Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of Nutanix in the fourth quarter valued at $256,000. 85.25% of the stock is owned by institutional investors.

Nutanix Stock Up 1.6%

NTNX stock traded up $1.20 during midday trading on Friday, reaching $76.75. The company's stock had a trading volume of 2,210,441 shares, compared to its average volume of 1,777,696. Nutanix has a 52 week low of $43.35 and a 52 week high of $83.36. The stock has a market cap of $20.58 billion, a PE ratio of 154.18, a price-to-earnings-growth ratio of 6.98 and a beta of 0.67. The business's 50-day simple moving average is $75.39 and its 200-day simple moving average is $71.46.

Nutanix (NASDAQ:NTNX - Get Free Report) last announced its quarterly earnings data on Wednesday, June 4th. The technology company reported $0.42 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $626.12 million. During the same period last year, the firm earned $0.28 earnings per share. The business's revenue for the quarter was up 21.8% on a year-over-year basis. As a group, equities analysts forecast that Nutanix will post 0.31 earnings per share for the current fiscal year.

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.