Nutanix (NASDAQ:NTNX) Given New $75.00 Price Target at Wells Fargo & Company

Nutanix (NASDAQ:NTNX) had its price objective hoisted by Wells Fargo & Company from $60.00 to $75.00 in a research report report published on Wednesday,Benzinga reports. They currently have an equal weight rating on the technology company’s stock.

NTNX has been the subject of several other research reports. Royal Bank of Canada lifted their price objective on shares of Nutanix from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Raymond James upped their price objective on shares of Nutanix from $76.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Barclays raised their target price on Nutanix from $75.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday. Piper Sandler upped their price target on Nutanix from $77.00 to $83.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Northland Securities reissued a “market perform” rating and issued a $77.00 price objective (up previously from $74.00) on shares of Nutanix in a research note on Wednesday. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $78.86.

Nutanix Trading Down 7.8 %

Shares of Nutanix stock opened at $66.70 on Wednesday. The company has a market cap of $17.69 billion, a P/E ratio of -128.27, a PEG ratio of 12.05 and a beta of 1.17. The business has a 50-day moving average price of $64.64 and a two-hundred day moving average price of $59.40. Nutanix has a 1-year low of $40.44 and a 1-year high of $75.80.

Nutanix (NASDAQ:NTNX) last issued its earnings results on Wednesday, August 28th. The technology company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. Nutanix had a negative return on equity of 7.57% and a negative net margin of 5.81%. The business had revenue of $547.95 million during the quarter, compared to the consensus estimate of $537.12 million. Equities research 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 24,316 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $58.85, for a total transaction of $1,430,996.60. Following the completion of the sale, the chief financial officer now directly owns 192,169 shares of the company’s stock, valued at approximately $11,309,145.65. This trade represents a 11.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO David Sangster sold 11,950 shares of Nutanix stock in a transaction on Monday, September 16th. The stock was sold at an average price of $59.83, for a total value of $714,968.50. Following the sale, the chief operating officer now owns 123,868 shares in the company, valued at $7,411,022.44. This trade represents a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.80% of the stock is owned by insiders.

Institutional Trading of Nutanix

Large investors have recently added to or reduced their stakes in the stock. Freedom Investment Management Inc. boosted its stake in Nutanix by 4.0% in the third quarter. Freedom Investment Management Inc. now owns 3,883 shares of the technology company’s stock valued at $230,000 after acquiring an additional 151 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Nutanix by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 7,036 shares of the technology company’s stock worth $417,000 after purchasing an additional 233 shares during the period. GAMMA Investing LLC lifted its stake in Nutanix by 35.2% in the second quarter. GAMMA Investing LLC now owns 933 shares of the technology company’s stock valued at $53,000 after purchasing an additional 243 shares during the last quarter. Paragon Capital Management Inc. grew its holdings in Nutanix by 1.0% during the third quarter. Paragon Capital Management Inc. now owns 26,082 shares of the technology company’s stock valued at $1,545,000 after purchasing an additional 258 shares during the period. Finally, Larson Financial Group LLC increased its position in Nutanix by 122.7% in the third quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock worth $30,000 after buying an additional 281 shares during 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.