Nutanix (NASDAQ:NTNX) Given New $63.00 Price Target at Morgan Stanley

Nutanix (NASDAQ:NTNX) had its price objective hoisted by Morgan Stanley from $58.00 to $63.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the technology company’s stock.

A number of other research firms also recently weighed in on NTNX. KeyCorp lifted their price target on Nutanix from $68.00 to $69.00 and gave the company an overweight rating in a research note on Thursday, February 29th. Wells Fargo & Company boosted their target price on Nutanix from $35.00 to $42.00 and gave the stock an equal weight rating in a research report on Thursday, November 30th. Susquehanna boosted their target price on Nutanix from $48.00 to $60.00 and gave the stock a positive rating in a research report on Friday, December 1st. Needham & Company LLC boosted their target price on Nutanix from $62.00 to $72.00 and gave the stock a buy rating in a research report on Thursday, February 29th. Finally, Piper Sandler boosted their target price on Nutanix from $67.00 to $76.00 and gave the stock an overweight rating in a research report on Thursday, February 29th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $63.92.

Nutanix Trading Down 0.3 %

NASDAQ:NTNX opened at $61.72 on Wednesday. The firm has a market cap of $15.08 billion, a P/E ratio of -171.44 and a beta of 1.29. The stock’s 50 day simple moving average is $60.03 and its 200-day simple moving average is $47.65. Nutanix has a 12-month low of $23.34 and a 12-month high of $66.99.

Nutanix (NASDAQ:NTNX) last posted its quarterly earnings results on Wednesday, February 28th. The technology company reported $0.17 earnings per share for the quarter. The business had revenue of $565.23 million during the quarter, compared to analysts’ expectations of $551.82 million. Research analysts forecast that Nutanix will post -0.07 EPS for the current fiscal year.

Insider Activity at Nutanix

In related news, Director Steven J. Gomo sold 25,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $64.11, for a total value of $1,602,750.00. Following the completion of the transaction, the director now directly owns 3,962 shares in the company, valued at $254,003.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Nutanix news, Director Steven J. Gomo sold 25,000 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $64.11, for a total transaction of $1,602,750.00. Following the completion of the sale, the director now directly owns 3,962 shares in the company, valued at $254,003.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tyler Wall sold 15,000 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $62.25, for a total value of $933,750.00. Following the sale, the insider now owns 13,168 shares of the company’s stock, valued at $819,708. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,477 shares of company stock worth $4,836,249. 0.46% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nutanix

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its position in shares of Nutanix by 2.0% in the first quarter. Bank of New York Mellon Corp now owns 706,101 shares of the technology company’s stock worth $18,938,000 after buying an additional 13,696 shares during the period. Bank of Montreal Can boosted its position in shares of Nutanix by 57.0% in the first quarter. Bank of Montreal Can now owns 108,342 shares of the technology company’s stock worth $2,939,000 after buying an additional 39,341 shares during the period. MetLife Investment Management LLC purchased a new stake in shares of Nutanix in the first quarter worth about $371,000. BlackRock Inc. boosted its position in shares of Nutanix by 1.2% in the first quarter. BlackRock Inc. now owns 9,703,410 shares of the technology company’s stock worth $260,245,000 after buying an additional 117,982 shares during the period. Finally, Blair William & Co. IL boosted its position in shares of Nutanix by 12.4% in the first quarter. Blair William & Co. IL now owns 296,205 shares of the technology company’s stock worth $7,944,000 after buying an additional 32,566 shares during the period. 85.25% of the stock is currently owned by institutional investors and hedge funds.

Nutanix Company Profile

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.