Nutanix (NASDAQ:NTNX) Price Target Raised to $72.00 at Morgan Stanley

Nutanix (NASDAQ:NTNXFree Report) had its target price upped by Morgan Stanley from $63.00 to $72.00 in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has an equal weight rating on the technology company’s stock.

NTNX has been the subject of a number of other research reports. JMP Securities upped their price objective on shares of Nutanix from $50.00 to $70.00 and gave the company a market outperform rating in a research report on Monday, February 5th. Piper Sandler boosted their price objective on Nutanix from $67.00 to $76.00 and gave the company an overweight rating in a research report on Thursday, February 29th. Raymond James raised Nutanix from a market perform rating to an outperform rating and set a $72.00 target price for the company in a research note on Wednesday, May 8th. Susquehanna lifted their price target on shares of Nutanix from $60.00 to $75.00 and gave the company a positive rating in a research note on Wednesday, April 10th. Finally, KeyCorp increased their price objective on shares of Nutanix from $68.00 to $69.00 and gave the stock an overweight rating in a research report on Thursday, February 29th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $68.54.

Get Our Latest Stock Analysis on Nutanix

Nutanix Trading Up 2.0 %

Nutanix stock opened at $72.85 on Thursday. The firm has a market capitalization of $17.80 billion, a P/E ratio of -202.36 and a beta of 1.27. The business has a 50-day moving average of $64.38 and a 200-day moving average of $55.78. Nutanix has a 1 year low of $26.47 and a 1 year high of $73.69.

Nutanix (NASDAQ:NTNXGet Free Report) last issued its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.17 earnings per share (EPS) for the quarter. The firm had revenue of $565.23 million for the quarter, compared to analyst estimates of $551.82 million. Research analysts anticipate that Nutanix will post -0.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO David Sangster sold 12,545 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $63.04, for a total value of $790,836.80. Following the completion of the transaction, the chief operating officer now owns 70,192 shares in the company, valued at approximately $4,424,903.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO David Sangster sold 12,545 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $63.04, for a total transaction of $790,836.80. Following the sale, the chief operating officer now owns 70,192 shares in the company, valued at $4,424,903.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tyler Wall sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $62.25, for a total value of $933,750.00. Following the completion of the transaction, the insider now owns 13,168 shares of the company’s stock, valued at $819,708. The disclosure for this sale can be found here. Insiders have sold 129,506 shares of company stock valued at $8,270,938 in the last three months. 0.46% of the stock is currently owned by corporate insiders.

Institutional Trading of Nutanix

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in shares of Nutanix by 7.1% during the 3rd quarter. Principal Financial Group Inc. now owns 21,017 shares of the technology company’s stock worth $733,000 after purchasing an additional 1,391 shares during the last quarter. California Public Employees Retirement System raised its stake in Nutanix by 4.4% in the third quarter. California Public Employees Retirement System now owns 428,922 shares of the technology company’s stock valued at $14,961,000 after buying an additional 18,225 shares during the period. Ieq Capital LLC acquired a new stake in shares of Nutanix in the third quarter valued at approximately $246,000. Victory Capital Management Inc. boosted its stake in shares of Nutanix by 2.8% during the 3rd quarter. Victory Capital Management Inc. now owns 25,650 shares of the technology company’s stock worth $895,000 after acquiring an additional 707 shares during the period. Finally, Los Angeles Capital Management LLC increased its holdings in shares of Nutanix by 13.5% during the 3rd quarter. Los Angeles Capital Management LLC now owns 932,324 shares of the technology company’s stock worth $32,519,000 after acquiring an additional 111,166 shares during the last quarter. 85.25% of the stock is owned by institutional investors.

Nutanix Company Profile

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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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