Nutanix (NTNX) Trading -3.2% Higher Following Analyst Upgrade

Shares of Nutanix Inc. (NASDAQ:NTNX) traded up 3.2% during trading on Monday after Morgan Stanley raised their price target on the stock from $22.00 to $35.00. Morgan Stanley currently has a hold rating on the stock. Nutanix traded as high as $38.28 and last traded at $34.92. 5,077,105 shares changed hands during mid-day trading, an increase of 62% from the average session volume of 3,139,200 shares. The stock had previously closed at $36.06.

Several other equities analysts also recently weighed in on the company. Oppenheimer raised their target price on Nutanix to $40.00 and gave the company an “outperform” rating in a research report on Friday, December 1st. Needham & Company LLC raised their target price on Nutanix from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, December 1st. Maxim Group raised their target price on Nutanix from $39.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, December 1st. Piper Jaffray Companies restated a “buy” rating and issued a $40.00 target price on shares of Nutanix in a research report on Friday, December 1st. Finally, Vetr upgraded Nutanix from a “buy” rating to a “strong-buy” rating and set a $36.96 target price on the stock in a research report on Wednesday, November 29th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $34.14.

In related news, President Sudheesh Nair Vadakkedath sold 50,000 shares of Nutanix stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $34.07, for a total transaction of $1,703,500.00. Following the transaction, the president now owns 228,330 shares in the company, valued at $7,779,203.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jeffrey T. Parks sold 30,089 shares of Nutanix stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $29.27, for a total value of $880,705.03. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,791,869 shares of company stock worth $50,409,588. 19.81% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in NTNX. Geode Capital Management LLC lifted its position in Nutanix by 12.2% during the first quarter. Geode Capital Management LLC now owns 129,489 shares of the technology company’s stock worth $2,430,000 after buying an additional 14,097 shares in the last quarter. Morgan Stanley raised its position in Nutanix by 1,096.4% in the first quarter. Morgan Stanley now owns 249,427 shares of the technology company’s stock valued at $4,682,000 after purchasing an additional 228,579 shares during the period. Schwab Charles Investment Management Inc. raised its position in Nutanix by 54.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 40,683 shares of the technology company’s stock valued at $764,000 after purchasing an additional 14,371 shares during the period. Credit Suisse AG purchased a new stake in Nutanix in the first quarter valued at $418,000. Finally, Bank of Montreal Can raised its position in Nutanix by 36,226.5% in the second quarter. Bank of Montreal Can now owns 53,400 shares of the technology company’s stock valued at $1,076,000 after purchasing an additional 53,253 shares during the period. Hedge funds and other institutional investors own 35.35% of the company’s stock.

Nutanix (NASDAQ:NTNX) last posted its earnings results on Thursday, November 30th. The technology company reported ($0.16) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.26) by $0.10. Nutanix had a negative return on equity of 363.55% and a negative net margin of 40.81%. The company had revenue of $275.60 million for the quarter, compared to the consensus estimate of $267.02 million. During the same quarter in the previous year, the business earned ($0.37) earnings per share. The company’s revenue for the quarter was up 46.1% on a year-over-year basis. research analysts anticipate that Nutanix Inc. will post -2.19 EPS for the current year.

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About Nutanix

Nutanix, Inc is a United States-based company, which provides an enterprise cloud platform that converges silos of server, virtualization and storage into an integrated solution. The Company’s enterprise cloud platform connects to public cloud services. It has operations in the United States; Europe, the Middle East and Africa; Asia-Pacific, and Other Americas.

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