Nutanix (NASDAQ:NTNX) Reaches New 52-Week High at $67.19

Nutanix, Inc. (NASDAQ:NTNX)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $67.19 and last traded at $66.86, with a volume of 904063 shares trading hands. The stock had previously closed at $65.32.

Analyst Ratings Changes

Several brokerages have recently weighed in on NTNX. William Blair upgraded shares of Nutanix from a “market perform” rating to an “outperform” rating in a research note on Wednesday, January 17th. StockNews.com lowered Nutanix from a “strong-buy” rating to a “buy” rating in a report on Friday, January 12th. KeyCorp increased their price target on Nutanix from $68.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Needham & Company LLC boosted their price objective on shares of Nutanix from $62.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Finally, JMP Securities upped their price objective on shares of Nutanix from $50.00 to $70.00 and gave the stock a “market outperform” rating in a research report on Monday, February 5th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $65.69.

Nutanix Stock Performance

The business has a fifty day moving average of $62.90 and a two-hundred day moving average of $52.87. The firm has a market cap of $16.18 billion, a price-to-earnings ratio of -184.14 and a beta of 1.27.

Nutanix (NASDAQ:NTNX) last released its quarterly earnings results on Wednesday, February 28th. The technology company reported $0.17 earnings per share (EPS) for the quarter. The firm had revenue of $565.23 million for the quarter, compared to analyst estimates of $551.82 million. On average, equities research analysts forecast that Nutanix, Inc. will post -0.04 earnings per share for the current year.

Insider Buying and Selling at Nutanix

In other news, COO David Sangster sold 12,545 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $63.04, for a total transaction of $790,836.80. Following the completion of the transaction, the chief operating officer now directly owns 70,192 shares of the company’s stock, valued at approximately $4,424,903.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Nutanix news, CEO Rajiv Ramaswami sold 23,932 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $63.05, for a total transaction of $1,508,912.60. Following the sale, the chief executive officer now directly owns 373,024 shares of the company’s stock, valued at approximately $23,519,163.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO David Sangster sold 12,545 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $63.04, for a total transaction of $790,836.80. Following the completion of the transaction, the chief operating officer now directly owns 70,192 shares of the company’s stock, valued at approximately $4,424,903.68. The disclosure for this sale can be found here. Insiders have sold 129,506 shares of company stock valued at $8,270,938 over the last quarter. Corporate insiders own 0.46% of the company’s stock.

Institutional Trading of Nutanix

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Nutanix during the fourth quarter worth $29,000. GAMMA Investing LLC acquired a new stake in Nutanix in the 4th quarter worth about $30,000. Kapitalo Investimentos Ltda purchased a new stake in Nutanix in the 4th quarter valued at about $37,000. BluePath Capital Management LLC acquired a new position in shares of Nutanix during the 3rd quarter valued at about $31,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Nutanix during the 4th quarter worth about $40,000. 85.25% of the stock is owned by hedge funds and other institutional investors.

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.