Nutanix (NASDAQ:NTNX) Raised to “Overweight” at Morgan Stanley

Morgan Stanley upgraded shares of Nutanix (NASDAQ:NTNX) from an equal weight rating to an overweight rating in a research report sent to investors on Monday morning, MarketBeat Ratings reports. The firm currently has $72.00 price target on the technology company’s stock, up from their prior price target of $71.00.

NTNX has been the subject of several other research reports. JPMorgan Chase & Co. lifted their target price on Nutanix from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Raymond James lifted their price objective on shares of Nutanix from $76.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Northland Securities increased their target price on shares of Nutanix from $71.00 to $74.00 and gave the stock a “market perform” rating in a report on Friday, August 30th. Bank of America lifted their price target on shares of Nutanix from $72.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $80.00 price objective on shares of Nutanix in a research note on Thursday, August 29th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Nutanix currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.38.

Nutanix Price Performance

NTNX opened at $62.10 on Monday. Nutanix has a 12-month low of $35.20 and a 12-month high of $73.69. The stock has a market capitalization of $16.47 billion, a PE ratio of -119.42, a P/E/G ratio of 12.48 and a beta of 1.18. The firm’s fifty day moving average price is $60.80 and its 200 day moving average price is $58.51.

Nutanix (NASDAQ:NTNX) last issued its earnings results on Wednesday, August 28th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The business had revenue of $547.95 million for the quarter, compared to analyst estimates of $537.12 million. Nutanix had a negative net margin of 5.81% and a negative return on equity of 7.57%. On average, equities research analysts forecast that Nutanix will post 0.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO David Sangster sold 11,950 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $59.83, for a total transaction of $714,968.50. Following the transaction, the chief operating officer now directly owns 123,868 shares of the company’s stock, valued at approximately $7,411,022.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO David Sangster sold 11,950 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $59.83, for a total value of $714,968.50. Following the completion of the sale, the chief operating officer now directly owns 123,868 shares of the company’s stock, valued at approximately $7,411,022.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Rukmini Sivaraman sold 24,316 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $58.85, for a total transaction of $1,430,996.60. Following the transaction, the chief financial officer now owns 192,169 shares in the company, valued at $11,309,145.65. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by insiders.

Institutional Trading of Nutanix

Several institutional investors have recently modified their holdings of NTNX. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Nutanix in the second quarter worth about $25,000. ORG Wealth Partners LLC bought a new stake in shares of Nutanix in the 3rd quarter worth approximately $27,000. Itau Unibanco Holding S.A. acquired a new stake in Nutanix during the second quarter valued at approximately $32,000. GAMMA Investing LLC lifted its stake in Nutanix by 35.2% during 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. Finally, Signaturefd LLC boosted its holdings in Nutanix by 57.8% during the third quarter. Signaturefd LLC now owns 956 shares of the technology company’s stock worth $57,000 after buying an additional 350 shares in the last quarter. Institutional investors and hedge funds own 85.25% of the company’s stock.

About Nutanix

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.