Investment analysts at Bank of America Corp started coverage on shares of Nutanix Inc (NASDAQ:NTNX) in a report released on Thursday. The firm set a “buy” rating and a $27.00 price target on the technology company’s stock. Bank of America Corp’s price objective would suggest a potential upside of 65.85% from the stock’s previous close.
A number of other analysts also recently weighed in on NTNX. Robert W. Baird restated a “buy” rating on shares of Nutanix in a research note on Tuesday, December 20th. Zacks Investment Research downgraded Nutanix from a “hold” rating to a “sell” rating in a research report on Wednesday, December 28th. FBN Securities initiated coverage on Nutanix in a research report on Wednesday, January 11th. They set a “sector perform” rating and a $30.00 target price on the stock. Oppenheimer Holdings Inc. set a $38.00 target price on Nutanix and gave the stock a “buy” rating in a research report on Wednesday, January 11th. Finally, Summit Redstone reiterated a “sell” rating on shares of Nutanix in a research report on Thursday, January 12th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $33.90.
Shares of Nutanix (NASDAQ:NTNX) traded down 0.85% during mid-day trading on Thursday, hitting $16.28. 1,275,133 shares of the stock were exchanged. The stock’s 50 day moving average is $19.64 and its 200-day moving average is $27.33. Nutanix has a 12 month low of $15.99 and a 12 month high of $46.78. The stock’s market cap is $2.33 billion.
Nutanix (NASDAQ:NTNX) last posted its quarterly earnings results on Thursday, March 2nd. The technology company reported ($0.53) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.35) by $0.18. The company earned $182.20 million during the quarter, compared to analysts’ expectations of $178.40 million. The company’s quarterly revenue was up 77.4% compared to the same quarter last year. On average, analysts anticipate that Nutanix will post ($1.49) EPS for the current year.
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In related news, EVP David Sangster sold 300,000 shares of the company’s stock in a transaction on Thursday, March 30th. The stock was sold at an average price of $18.78, for a total value of $5,634,000.00. Following the completion of the transaction, the executive vice president now directly owns 303,405 shares in the company, valued at $5,697,945.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Lightspeed Venture Partners Vi sold 389,068 shares of the company’s stock in a transaction on Thursday, April 6th. The shares were sold at an average price of $17.70, for a total value of $6,886,503.60. The disclosure for this sale can be found here. Insiders sold 940,609 shares of company stock valued at $17,173,273 over the last quarter.
A number of large investors have recently bought and sold shares of the stock. Morgan Stanley purchased a new stake in Nutanix during the third quarter worth about $51,037,000. Macquarie Group Ltd. increased its stake in Nutanix by 418.5% in the fourth quarter. Macquarie Group Ltd. now owns 1,366,367 shares of the technology company’s stock worth $36,291,000 after buying an additional 1,102,841 shares during the period. Columbia Wanger Asset Management LLC increased its stake in Nutanix by 700.2% in the fourth quarter. Columbia Wanger Asset Management LLC now owns 1,200,340 shares of the technology company’s stock worth $31,881,000 after buying an additional 1,050,340 shares during the period. JPMorgan Chase & Co. purchased a new stake in Nutanix during the third quarter worth about $29,979,000. Finally, FMR LLC increased its stake in Nutanix by 37.7% in the fourth quarter. FMR LLC now owns 2,512,800 shares of the technology company’s stock worth $66,740,000 after buying an additional 688,489 shares during the period. 14.81% of the stock is owned by hedge funds and other institutional investors.
Nutanix Company Profile
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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