The Goldman Sachs Group Begins Coverage on Nutanix (NASDAQ:NTNX)

Stock analysts at The Goldman Sachs Group began coverage on shares of Nutanix (NASDAQ:NTNX - Get Free Report) in a report issued on Tuesday,Benzinga reports. The firm set a "buy" rating and a $95.00 price target on the technology company's stock. The Goldman Sachs Group's price target points to a potential upside of 31.11% from the company's current price.

A number of other research firms also recently commented on NTNX. Morgan Stanley restated an "overweight" rating and set a $90.00 price objective (up from $75.00) on shares of Nutanix in a research note on Tuesday, May 20th. Piper Sandler reiterated 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. Wall Street Zen downgraded shares of Nutanix from a "strong-buy" rating to a "buy" rating in a research note on Monday, June 30th. KeyCorp started coverage on shares of Nutanix in a research note on Thursday, June 26th. They issued an "overweight" rating and a $95.00 target price for the company. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $92.00 target price on shares of Nutanix in a research note on Thursday, May 29th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Nutanix currently has an average rating of "Moderate Buy" and an average price target of $91.00.

Nutanix Trading Up 0.1%

Shares of NASDAQ NTNX opened at $72.46 on Tuesday. The firm has a market cap of $19.43 billion, a PE ratio of 147.76, a PEG ratio of 6.69 and a beta of 0.67. Nutanix has a 1-year low of $43.35 and a 1-year high of $83.36. The company has a fifty day moving average price of $76.33 and a 200 day moving average price of $70.53.

Nutanix (NASDAQ:NTNX - Get Free Report) last announced its 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. 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 analyst estimates of $626.12 million. During the same period in the prior year, the business earned $0.28 EPS. The company's revenue for the quarter was up 21.8% compared to the same quarter last year. Equities research analysts forecast that Nutanix will post 0.31 EPS for the current year.

Insider Activity at Nutanix

In other Nutanix news, CFO Rukmini Sivaraman sold 2,100 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $72.73, for a total value of $152,733.00. Following the transaction, the chief financial officer directly owned 209,070 shares of the company's stock, valued at $15,205,661.10. This represents a 0.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Rajiv Ramaswami sold 61,057 shares of the stock in a transaction dated 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 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. Insiders sold 5,552,549 shares of company stock valued at $426,621,281 in the last 90 days. Insiders own 6.80% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. True Wealth Design LLC increased its holdings in shares of Nutanix by 13.2% during the fourth quarter. True Wealth Design LLC now owns 1,249 shares of the technology company's stock worth $76,000 after purchasing an additional 146 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of Nutanix by 42.6% during the second quarter. Farther Finance Advisors LLC now owns 502 shares of the technology company's stock worth $38,000 after purchasing an additional 150 shares during the period. Azzad Asset Management Inc. ADV increased its holdings in shares of Nutanix by 0.5% during the fourth quarter. Azzad Asset Management Inc. ADV now owns 34,887 shares of the technology company's stock worth $2,134,000 after purchasing an additional 159 shares during the period. Aaron Wealth Advisors LLC increased its holdings in shares of Nutanix by 2.6% during the second quarter. Aaron Wealth Advisors LLC now owns 6,489 shares of the technology company's stock worth $496,000 after purchasing an additional 162 shares during the period. Finally, Concurrent Investment Advisors LLC increased its stake in Nutanix by 4.4% in the first quarter. Concurrent Investment Advisors LLC now owns 4,163 shares of the technology company's stock valued at $291,000 after acquiring an additional 177 shares during the last quarter. 85.25% of the stock is owned by institutional investors.

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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