Nutanix (NASDAQ:NTNX) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Nutanix (NASDAQ:NTNX) from a buy rating to a hold rating in a research report sent to investors on Saturday.

Several other equities research analysts have also recently commented on NTNX. Morgan Stanley cut their target price on Nutanix from $90.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 26th. The Goldman Sachs Group reduced their target price on shares of Nutanix from $95.00 to $75.00 and set a “buy” rating for the company in a report on Friday, November 28th. JPMorgan Chase & Co. decreased their price objective on Nutanix from $78.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, November 26th. Northland Capmk lowered Nutanix from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Finally, Piper Sandler restated an “overweight” rating and issued a $72.00 price target (down from $88.00) on shares of Nutanix in a research note on Wednesday, November 26th. Thirteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $75.13.

Nutanix Stock Up 0.1%

Nutanix stock opened at $47.39 on Friday. The company has a 50 day moving average of $64.56 and a 200-day moving average of $70.67. Nutanix has a twelve month low of $46.12 and a twelve month high of $83.36. The stock has a market capitalization of $12.74 billion, a PE ratio of 63.19, a price-to-earnings-growth ratio of 5.03 and a beta of 0.53.

Nutanix (NASDAQ:NTNX) last announced its earnings results on Tuesday, November 25th. The technology company reported $0.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.41. Nutanix had a net margin of 8.43% and a negative return on equity of 32.95%. The firm had revenue of $670.58 million during the quarter, compared to analyst estimates of $677.23 million. During the same period in the prior year, the business earned $0.42 EPS. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. Equities analysts anticipate that Nutanix will post 0.31 EPS for the current fiscal year.

Insider Transactions at Nutanix

In other news, CEO Rajiv Ramaswami sold 144,707 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $76.42, for a total transaction of $11,058,508.94. Following the transaction, the chief executive officer directly owned 524,608 shares of the company’s stock, valued at approximately $40,090,543.36. This trade represents a 21.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Teresa Gayle Sheppard sold 3,500 shares of the stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $76.48, for a total value of $267,680.00. Following the sale, the director directly owned 22,400 shares in the company, valued at approximately $1,713,152. This trade represents a 13.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 159,598 shares of company stock valued at $12,218,560. 2.40% of the stock is currently owned by company insiders.

Institutional Trading of Nutanix

Several large investors have recently bought and sold shares of the business. LPL Financial LLC raised its stake in Nutanix by 39.0% during the first quarter. LPL Financial LLC now owns 99,735 shares of the technology company’s stock worth $6,962,000 after acquiring an additional 28,003 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Nutanix by 15.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,216 shares of the technology company’s stock valued at $434,000 after purchasing an additional 816 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in Nutanix during the 1st quarter worth approximately $74,000. ASR Vermogensbeheer N.V. acquired a new position in Nutanix during the 1st quarter worth approximately $345,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Nutanix by 1.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,467,177 shares of the technology company’s stock valued at $102,424,000 after purchasing an additional 24,372 shares during the last quarter. 85.25% of the stock is owned by institutional investors and hedge funds.

About Nutanix

Nutanix, Inc engages in the provision of a cloud platform leveraging web-scale engineering and consumer-grade design. It operates through the following geographic segments: United States, Europe, the Middle East, Africa, Asia Pacific, and Other Americas. The firm also provides software solutions and cloud services to customers’ enterprise infrastructure.