Nutanix (NASDAQ:NTNX) Sets New 12-Month High – Should You Buy?

Nutanix, Inc. (NASDAQ:NTNX) shares reached a new 52-week high on Monday . The stock traded as high as $73.80 and last traded at $73.80, with a volume of 13579 shares traded. The stock had previously closed at $73.18.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Nutanix in a report on Thursday, August 29th. Piper Sandler boosted their price objective on Nutanix from $76.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Oppenheimer initiated coverage on Nutanix in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $80.00 target price for the company. Royal Bank of Canada increased their price target on shares of Nutanix from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Finally, Raymond James increased their target price on shares of Nutanix from $76.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.86.

Nutanix Stock Up 1.9 %

The stock’s fifty day moving average price is $63.90 and its two-hundred day moving average price is $59.28.

Nutanix (NASDAQ:NTNX) last posted its quarterly earnings results on Wednesday, August 28th. The technology company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.02. Nutanix had a negative net margin of 5.81% and a negative return on equity of 7.57%. The business had revenue of $547.95 million during the quarter, compared to the consensus estimate of $537.12 million. On average, research analysts predict that Nutanix, Inc. will post 0.31 earnings per share for the current year.

Insider Buying and Selling

In other Nutanix news, CFO Rukmini Sivaraman sold 24,316 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $58.85, for a total value of $1,430,996.60. Following the sale, the chief financial officer now owns 192,169 shares of the company’s stock, valued at $11,309,145.65. This trade represents a 11.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO David Sangster sold 11,950 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $59.83, for a total transaction of $714,968.50. Following the completion of the transaction, the chief operating officer now owns 123,868 shares in the company, valued at $7,411,022.44. The trade was a 8.80 % decrease in their position. The disclosure for this sale can be found here. 6.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Nutanix

Several institutional investors and hedge funds have recently bought and sold shares of NTNX. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Nutanix during the second quarter valued at approximately $25,000. ORG Wealth Partners LLC purchased a new position in Nutanix during the 3rd quarter valued at $27,000. Larson Financial Group LLC raised its holdings in Nutanix by 122.7% in the 3rd quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock worth $30,000 after purchasing an additional 281 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Nutanix in the 2nd quarter worth about $32,000. Finally, Advisors Asset Management Inc. boosted its stake in shares of Nutanix by 150.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock valued at $32,000 after purchasing an additional 321 shares in the last quarter. Hedge funds and other institutional investors own 85.25% of the company’s stock.

Nutanix Company Profile

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.