Nutanix (NASDAQ:NTNX) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Nutanix has received a consensus rating of "Moderate Buy" from 17 brokerages, with 14 firms assigning a buy recommendation and one a strong buy recommendation.
• The average one-year target price for Nutanix is $91.00, with some firms, such as Goldman Sachs and Susquehanna, setting targets as high as $95.00.
• Insider trading has seen significant activity, with insiders selling over 5 million shares valued at approximately $421 million in the last 90 days.

Nutanix (NASDAQ:NTNX - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the seventeen ratings firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $91.00.

Several analysts have recently commented on NTNX shares. The Goldman Sachs Group started coverage on Nutanix in a research note on Tuesday, July 15th. They issued a "buy" rating and a $95.00 target price for the company. Susquehanna raised their target price on Nutanix from $90.00 to $95.00 and gave the company a "positive" rating in a research note on Thursday, May 29th. KeyCorp started coverage on Nutanix in a research note on Thursday, June 26th. They issued an "overweight" rating and a $95.00 target price for the company. Wall Street Zen downgraded Nutanix from a "strong-buy" rating to a "buy" rating in a research note on Monday, June 30th. Finally, Piper Sandler restated an "overweight" rating and issued a $88.00 target price (up from $76.00) on shares of Nutanix in a research note on Thursday, May 29th.

Insider Transactions at Nutanix

In related news, Director Virginia Gambale sold 7,000 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $78.00, for a total value of $546,000.00. Following the transaction, the director owned 38,330 shares of the company's stock, valued at approximately $2,989,740. This trade represents a 15.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Rukmini Sivaraman sold 2,100 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $72.73, for a total transaction of $152,733.00. Following the completion of the transaction, the chief financial officer directly owned 209,070 shares in the company, valued at approximately $15,205,661.10. The trade was a 0.99% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,491,492 shares of company stock valued at $421,797,778. 6.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nutanix

Several hedge funds have recently modified their holdings of NTNX. AQR Capital Management LLC raised its position in shares of Nutanix by 30.8% in the second quarter. AQR Capital Management LLC now owns 4,712,266 shares of the technology company's stock worth $360,206,000 after buying an additional 1,108,261 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Nutanix by 0.6% in the second quarter. Geode Capital Management LLC now owns 4,549,909 shares of the technology company's stock worth $346,720,000 after buying an additional 25,918 shares in the last quarter. Jericho Capital Asset Management L.P. raised its position in shares of Nutanix by 46.8% in the first quarter. Jericho Capital Asset Management L.P. now owns 4,102,993 shares of the technology company's stock worth $286,430,000 after buying an additional 1,308,357 shares in the last quarter. Norges Bank purchased a new stake in shares of Nutanix in the second quarter worth $263,938,000. Finally, Marshall Wace LLP raised its position in shares of Nutanix by 75.9% in the second quarter. Marshall Wace LLP now owns 3,279,107 shares of the technology company's stock worth $250,655,000 after buying an additional 1,415,117 shares in the last quarter. Institutional investors own 85.25% of the company's stock.

Nutanix Trading Up 2.5%

Shares of Nutanix stock opened at $69.63 on Thursday. The business has a 50-day moving average price of $73.53 and a two-hundred day moving average price of $72.02. Nutanix has a 1-year low of $51.55 and a 1-year high of $83.36. The company has a market cap of $18.67 billion, a P/E ratio of 138.59, a PEG ratio of 4.74 and a beta of 0.71.

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

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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