Nutanix (NASDAQ:NTNX) Lowered to Buy at StockNews.com
Nutanix (NASDAQ:NTNX – Get Free Report) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Friday.
Several other research analysts have also recently weighed in on NTNX. Bank of America upgraded shares of Nutanix from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $39.00 to $50.00 in a research report on Thursday, September 21st. Royal Bank of Canada upped their price target on Nutanix from $47.00 to $54.00 and gave the company an “outperform” rating in a research note on Thursday, November 30th. Piper Sandler raised their price target on Nutanix from $42.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, November 30th. TheStreet cut Nutanix from a “c” rating to a “d” rating in a report on Wednesday, November 29th. Finally, Barclays raised their target price on shares of Nutanix from $38.00 to $43.00 and gave the company an “overweight” rating in a research note on Friday, September 1st. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $49.45.
Read Our Latest Stock Analysis on Nutanix
Nutanix Stock Up 2.3 %
NTNX traded up $1.05 during trading on Friday, hitting $46.02. The company’s stock had a trading volume of 2,007,367 shares, compared to its average volume of 1,689,058. The stock has a market capitalization of $11.03 billion, a price-to-earnings ratio of -58.25 and a beta of 1.28. The firm’s 50 day moving average price is $38.69 and its two-hundred day moving average price is $33.39. Nutanix has a 12 month low of $23.34 and a 12 month high of $46.07.
Nutanix (NASDAQ:NTNX – Get Free Report) last issued its quarterly earnings results on Wednesday, November 29th. The technology company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.11. The company had revenue of $511.10 million for the quarter, compared to analyst estimates of $501.26 million. The firm’s quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.32) EPS. On average, sell-side analysts forecast that Nutanix will post -0.3 earnings per share for the current year.
Insider Buying and Selling at Nutanix
In related news, CEO Rajiv Ramaswami sold 138,038 shares of the company’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $33.88, for a total value of $4,676,727.44. Following the completion of the transaction, the chief executive officer now directly owns 528,499 shares of the company’s stock, valued at approximately $17,905,546.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Rajiv Ramaswami sold 138,038 shares of the business’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $33.88, for a total value of $4,676,727.44. Following the sale, the chief executive officer now owns 528,499 shares of the company’s stock, valued at $17,905,546.12. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Tyler Wall sold 31,695 shares of the firm’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $33.88, for a total transaction of $1,073,826.60. Following the completion of the transaction, the insider now directly owns 98,795 shares of the company’s stock, valued at approximately $3,347,174.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 566,979 shares of company stock valued at $20,114,508. 0.46% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the stock. Altshuler Shaham Ltd acquired a new position in Nutanix during the first quarter worth $30,000. BluePath Capital Management LLC acquired a new position in Nutanix during the third quarter worth approximately $31,000. Point72 Hong Kong Ltd acquired a new stake in shares of Nutanix in the first quarter valued at approximately $35,000. BOK Financial Private Wealth Inc. bought a new position in shares of Nutanix during the 3rd quarter worth approximately $42,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Nutanix during the 3rd quarter worth approximately $46,000. 78.74% of the stock is owned by institutional investors and hedge funds.
About Nutanix (Get Free Report)
Nutanix, Inc provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. The company offers hyperconverged infrastructure software stack that converges virtualization, storage, and networking services into a turnkey solution; Acropolis Hypervisor, an enterprise-grade virtualization solution; flow virtual networking and flow network security, which offers services to visualize the network, automate common network operations, and build virtual private networks; Nutanix Kubernetes Engine for automated deployment and management of Kubernetes clusters to simplify the provisioning, operations, and lifecycle management of cloud-native environments, applications, and microservices; and Nutanix Cloud Clusters.
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Original: MarketBeat News Feed: Nutanix (NASDAQ:NTNX) Lowered to Buy at StockNews.com