Oppenheimer Begins Coverage on Nutanix (NASDAQ:NTNX)

Oppenheimer initiated coverage on shares of Nutanix (NASDAQ:NTNX) in a report released on Wednesday morning, Marketbeat reports. The firm issued an outperform rating and a $80.00 target price on the technology company’s stock.

A number of other analysts also recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Nutanix from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Piper Sandler raised their price target on shares of Nutanix from $76.00 to $77.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Needham & Company LLC reiterated a “buy” rating and issued a $80.00 price objective on shares of Nutanix in a research note on Thursday, August 29th. Morgan Stanley raised Nutanix from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $71.00 to $72.00 in a research report on Monday, October 28th. Finally, Raymond James upped their price target on Nutanix from $76.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $73.86.

Nutanix Stock Down 2.2 %

NTNX stock opened at $69.53 on Wednesday. The firm has a market cap of $18.44 billion, a PE ratio of -133.71, a P/E/G ratio of 14.53 and a beta of 1.17. The business has a 50 day moving average of $62.90 and a 200-day moving average of $59.10. Nutanix has a 12-month low of $38.60 and a 12-month high of $73.69.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings data 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. Nutanix had a negative return on equity of 7.57% and a negative net margin of 5.81%. The firm had revenue of $547.95 million during the quarter, compared to the consensus estimate of $537.12 million. On average, research analysts expect that Nutanix will post 0.27 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Rukmini Sivaraman sold 24,316 shares of Nutanix stock in a transaction 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO David Sangster sold 11,950 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $59.83, for a total value 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. This 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 currently owned by insiders.

Institutional Trading of Nutanix

Large investors have recently modified their holdings of the business. Bain Capital Investors LLC purchased a new stake in Nutanix in the third quarter valued at approximately $998,601,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Nutanix by 29.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,358,768 shares of the technology company’s stock worth $269,024,000 after buying an additional 985,421 shares during the last quarter. Driehaus Capital Management LLC raised its position in shares of Nutanix by 123.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,435,230 shares of the technology company’s stock valued at $81,593,000 after buying an additional 794,215 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Nutanix by 32.8% during the 3rd quarter. Two Sigma Advisers LP now owns 2,814,002 shares of the technology company’s stock worth $166,730,000 after acquiring an additional 695,567 shares during the last quarter. Finally, Marshall Wace LLP grew its position in Nutanix by 47.5% in the second quarter. Marshall Wace LLP now owns 1,482,989 shares of the technology company’s stock worth $84,308,000 after acquiring an additional 477,838 shares in the last quarter. Institutional investors 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.