Nutanix (NASDAQ:NTNX – Get Free Report) shares hit a new 52-week high during trading on Friday. The stock traded as high as $74.55 and last traded at $74.6020, with a volume of 1310140 shares traded. The stock had previously closed at $73.11.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on NTNX shares. Needham & Company LLC assumed coverage on Nutanix in a research note on Monday, September 28th. They issued a “buy” rating and a $90.00 price target for the company. Wall Street Zen upgraded Nutanix from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Northland Securities set a $70.00 target price on shares of Nutanix in a research report on Thursday, August 27th. Morgan Stanley raised their price target on shares of Nutanix from $55.00 to $63.00 and gave the stock an “equal weight” rating in a report on Thursday, August 27th. Finally, UBS Group set a $85.00 price target on shares of Nutanix in a report on Thursday, August 27th. Nine equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $73.07.
Get Our Latest Stock Analysis on NTNX
Nutanix Stock Performance
Nutanix (NASDAQ:NTNX – Get Free Report) last announced its earnings results on Wednesday, August 26th. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.49 by $0.11. Nutanix had a negative return on equity of 90.13% and a net margin of 52.81%.The company had revenue of $757.08 million for the quarter, compared to analyst estimates of $738.27 million. During the same quarter in the prior year, the company earned $0.37 EPS. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. On average, equities analysts forecast that Nutanix will post 1.17 earnings per share for the current year.
Insider Buying and Selling
In other news, CEO Rajiv Ramaswami sold 324,955 shares of the firm’s stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $73.57, for a total transaction of $23,906,939.35. Following the completion of the sale, the chief executive officer owned 489,384 shares of the company’s stock, valued at $36,003,980.88. This trade represents a 39.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Rukmini Sivaraman sold 38,139 shares of Nutanix stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $70.00, for a total transaction of $2,669,730.00. Following the completion of the sale, the chief financial officer owned 325,487 shares of the company’s stock, valued at $22,784,090. This represents a 10.49% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 438,139 shares of company stock worth $32,129,999 over the last 90 days. Company insiders own 2.40% of the company’s stock.
Institutional Investors Weigh In On Nutanix
Several hedge funds and other institutional investors have recently bought and sold shares of NTNX. Paralel Advisors LLC boosted its position in shares of Nutanix by 58.6% during the 2nd quarter. Paralel Advisors LLC now owns 60,770 shares of the technology company’s stock worth $3,097,000 after purchasing an additional 22,453 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Nutanix by 628.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,185,120 shares of the technology company’s stock valued at $45,046,000 after buying an additional 1,022,516 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Nutanix during the 2nd quarter worth approximately $3,976,000. WINTON GROUP Ltd raised its stake in Nutanix by 381.3% during the 2nd quarter. WINTON GROUP Ltd now owns 135,180 shares of the technology company’s stock worth $6,889,000 after buying an additional 107,096 shares during the period. Finally, Entropy Technologies LP bought a new position in Nutanix in the first quarter worth approximately $2,212,000. 85.25% of the stock is owned by institutional investors.
Nutanix Company Profile
Nutanix, Inc develops enterprise cloud software that helps organizations manage applications and data across on-premises infrastructure, public clouds and hybrid multicloud environments. Its platform is designed to simplify the operation of data centers and cloud resources through a unified software experience.
The company’s offerings include hyperconverged infrastructure software, the Nutanix Cloud Infrastructure platform and AHV virtualization. Nutanix also provides services for file and object storage, databases, disaster recovery, Kubernetes and application management, as well as tools that help customers monitor, secure and govern their hybrid and multicloud environments.
Founded in 2009 and headquartered in San Jose, California, Nutanix serves businesses, government organizations and other institutions globally through direct sales and channel partners.
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