Nutanix (NASDAQ:NTNX) Upgraded at Morgan Stanley

Nutanix (NASDAQ:NTNX) was upgraded by research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a note issued to investors on Monday, Briefing.com reports. The brokerage currently has a $72.00 target price on the technology company’s stock, up from their previous target price of $71.00. Morgan Stanley’s price target indicates a potential upside of 16.90% from the company’s current price.

NTNX has been the topic of a number of other reports. JPMorgan Chase & Co. boosted their price target on Nutanix from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Piper Sandler boosted their price target on Nutanix from $76.00 to $77.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Bank of America boosted their price target on Nutanix from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Royal Bank of Canada boosted their price target on Nutanix from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Finally, Northland Securities boosted their price target on Nutanix from $71.00 to $74.00 and gave the stock a “market perform” rating in a research report on Friday, August 30th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.38.

Nutanix Stock Performance

Nutanix stock opened at $61.59 on Monday. The stock’s 50 day simple moving average is $59.91 and its two-hundred day simple moving average is $58.43. The stock has a market cap of $15.19 billion, a price-to-earnings ratio of -879.86, a PEG ratio of 12.44 and a beta of 1.18. Nutanix has a fifty-two week low of $34.40 and a fifty-two week high of $73.69.

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

Insider Activity at Nutanix

In related news, COO David Sangster sold 11,950 shares of the stock in a transaction dated 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 transaction, the chief operating officer now 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO David Sangster sold 11,950 shares of the stock in a transaction dated 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 transaction, the chief operating officer now 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Rukmini Sivaraman sold 24,316 shares of the firm’s stock in a transaction dated 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 directly owns 192,169 shares of the company’s stock, valued at approximately $11,309,145.65. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.46% of the stock is owned by insiders.

Institutional Trading of Nutanix

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in shares of Nutanix by 35.2% during the second quarter. GAMMA Investing LLC now owns 933 shares of the technology company’s stock worth $53,000 after acquiring an additional 243 shares during the period. Paragon Capital Management Inc. increased its holdings in Nutanix by 1.0% during the third quarter. Paragon Capital Management Inc. now owns 26,082 shares of the technology company’s stock valued at $1,545,000 after buying an additional 258 shares during the period. Signaturefd LLC increased its holdings in Nutanix by 57.8% during the third quarter. Signaturefd LLC now owns 956 shares of the technology company’s stock valued at $57,000 after buying an additional 350 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Nutanix by 2.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 18,433 shares of the technology company’s stock valued at $1,138,000 after buying an additional 369 shares during the period. Finally, Daiwa Securities Group Inc. increased its holdings in Nutanix by 9.0% during the second quarter. Daiwa Securities Group Inc. now owns 4,500 shares of the technology company’s stock valued at $256,000 after buying an additional 370 shares during the period. 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.