Oppenheimer Initiates Coverage on Nutanix (NASDAQ:NTNX)

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

A number of other equities research analysts have also issued reports on NTNX. Bank of America upped their price objective on shares of Nutanix from $72.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Northland Securities increased their target price on shares of Nutanix from $71.00 to $74.00 and gave the stock a “market perform” rating in a research note on Friday, August 30th. Piper Sandler increased their target price 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. Raymond James raised their price objective on shares of Nutanix from $76.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, Morgan Stanley raised shares of Nutanix from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $71.00 to $72.00 in a research note on Monday, October 28th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Nutanix presently has an average rating of “Moderate Buy” and a consensus price target of $73.86.

Nutanix Stock Down 0.7 %

Shares of NASDAQ NTNX opened at $71.71 on Wednesday. The firm has a 50-day simple moving average of $62.36 and a 200-day simple moving average of $58.87. The stock has a market capitalization of $19.02 billion, a price-to-earnings ratio of -137.90, a price-to-earnings-growth ratio of 14.64 and a beta of 1.17. Nutanix has a 52 week low of $38.60 and a 52 week 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 net margin of 5.81% and a negative return on equity of 7.57%. The firm had revenue of $547.95 million during the quarter, compared to analyst estimates of $537.12 million. As a group, equities research analysts expect that Nutanix will post 0.27 EPS for the current year.

Insider Activity

In other news, CFO Rukmini Sivaraman sold 24,316 shares of Nutanix stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $58.85, for a total value of $1,430,996.60. Following the transaction, the chief financial officer now directly owns 192,169 shares of the company’s stock, valued at $11,309,145.65. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, COO David Sangster sold 11,950 shares of Nutanix stock in a transaction on Monday, September 16th. The shares were sold at an average price of $59.83, for a total value of $714,968.50. Following the transaction, the chief operating officer now directly owns 123,868 shares in the company, valued at $7,411,022.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Rukmini Sivaraman sold 24,316 shares of Nutanix stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $58.85, for a total transaction of $1,430,996.60. Following the completion of the transaction, the chief financial officer now owns 192,169 shares in the company, valued at approximately $11,309,145.65. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Nutanix

Hedge funds and other institutional investors have recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Nutanix in the 2nd quarter valued at $25,000. ORG Wealth Partners LLC purchased a new position in Nutanix in the 3rd quarter valued at $27,000. Larson Financial Group LLC boosted its position in shares of Nutanix by 122.7% during the 3rd quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock worth $30,000 after purchasing an additional 281 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Nutanix during the 2nd quarter worth $32,000. Finally, Advisors Asset Management Inc. boosted its position in shares of Nutanix by 150.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock worth $32,000 after purchasing an additional 321 shares in the last quarter. 85.25% of the stock is currently owned by hedge funds and other institutional investors.

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.