Nutanix (NASDAQ:NTNX) Coverage Initiated by Analysts at The Goldman Sachs Group

The Goldman Sachs Group started coverage on shares of Nutanix (NASDAQ:NTNX - Free Report) in a research report sent to investors on Tuesday, Marketbeat.com reports. The brokerage issued a buy rating and a $95.00 price objective on the technology company's stock.

Several other equities analysts have also recently commented on NTNX. KeyCorp began coverage on shares of Nutanix in a research report on Thursday, June 26th. They issued an "overweight" rating and a $95.00 target price for the company. Susquehanna boosted their target price on shares of Nutanix from $90.00 to $95.00 and gave the company a "positive" rating in a research report on Thursday, May 29th. Piper Sandler restated an "overweight" rating and issued a $88.00 target price (up from $76.00) on shares of Nutanix in a research report on Thursday, May 29th. Wall Street Zen cut shares of Nutanix from a "strong-buy" rating to a "buy" rating in a research report on Monday, June 30th. Finally, Needham & Company LLC restated a "buy" rating and issued a $92.00 target price on shares of Nutanix in a research report on Thursday, May 29th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $91.00.

Nutanix Trading Up 0.6%

NASDAQ NTNX traded up $0.45 during trading on Tuesday, reaching $75.29. The company's stock had a trading volume of 882,355 shares, compared to its average volume of 2,465,499. The firm has a market capitalization of $20.18 billion, a price-to-earnings ratio of 150.10, a price-to-earnings-growth ratio of 6.79 and a beta of 0.67. Nutanix has a 12 month low of $43.35 and a 12 month high of $83.36. The firm has a 50 day moving average price of $76.38 and a 200 day moving average price of $70.67.

Nutanix (NASDAQ:NTNX - Get Free Report) last posted 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. The firm had revenue of $638.98 million during the quarter, compared to the consensus estimate of $626.12 million. Nutanix had a net margin of 0.97% and a negative return on equity of 21.32%. The business's revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.28 EPS. On average, equities analysts forecast that Nutanix will post 0.31 EPS for the current fiscal year.

Insider Activity at Nutanix

In related news, CFO Rukmini Sivaraman sold 2,100 shares of the company's stock in a transaction that occurred on 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 $15,205,661.10. This represents a 0.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Virginia Gambale sold 7,000 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $78.00, for a total transaction of $546,000.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,552,549 shares of company stock valued at $426,621,281 in the last quarter. 6.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Nutanix

Several institutional investors and hedge funds have recently added to or reduced their stakes in NTNX. Norges Bank acquired a new position in Nutanix in the 4th quarter valued at approximately $195,758,000. Pictet Asset Management Holding SA increased its position in Nutanix by 6,785.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,139,340 shares of the technology company's stock valued at $130,885,000 after acquiring an additional 2,108,269 shares during the period. Artisan Partners Limited Partnership acquired a new position in Nutanix in the 4th quarter valued at approximately $91,639,000. Contour Asset Management LLC acquired a new position in Nutanix in the 4th quarter valued at approximately $87,318,000. Finally, AQR Capital Management LLC increased its position in Nutanix by 65.5% in the 1st quarter. AQR Capital Management LLC now owns 3,604,005 shares of the technology company's stock valued at $246,874,000 after acquiring an additional 1,426,049 shares during the period. 85.25% of the stock is currently 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.