Nutanix (NASDAQ:NTNX) Stock Rated “Buy” in New Coverage at Guggenheim

Guggenheim initiated coverage on shares of Nutanix (NASDAQ:NTNX) in a report issued on Monday, MarketBeat Ratings reports. The firm set a “buy” rating and a $100.00 price target on the technology company’s stock. Guggenheim‘s price objective would indicate a potential upside of 37.53% from the company’s previous close.

A number of other research firms have also weighed in on NTNX. Rosenblatt Securities increased their price objective on shares of Nutanix from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, August 25th. Oppenheimer boosted their price objective on Nutanix from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, August 27th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating on shares of Nutanix in a research note on Tuesday, August 25th. UBS Group set a $85.00 price target on Nutanix in a report on Thursday, August 27th. Finally, Weiss Ratings raised shares of Nutanix from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $74.87.

Nutanix Stock Up 3.0%

NASDAQ:NTNX opened at $72.71 on Monday. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 1.92. Nutanix has a twelve month low of $34.01 and a twelve month high of $75.98. The company has a market cap of $19.67 billion, a PE ratio of 14.09, a P/E/G ratio of 3.50 and a beta of 0.64. The company’s 50 day moving average is $68.99 and its two-hundred day moving average is $52.08.

Nutanix (NASDAQ:NTNX) last posted its quarterly earnings results on Wednesday, August 26th. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.11. Nutanix had a net margin of 52.81% and a negative return on equity of 90.13%. The business had revenue of $757.08 million during the quarter, compared to analysts’ expectations of $738.27 million. During the same quarter last year, the company posted $0.37 earnings per share. The business’s quarterly revenue was up 15.9% on a year-over-year basis. Analysts anticipate that Nutanix will post 1.17 EPS for the current year.

Insider Buying and Selling at Nutanix

In related news, CEO Rajiv Ramaswami sold 75,045 shares of the stock in a transaction dated Wednesday, October 7th. The stock was sold at an average price of $74.00, for a total transaction of $5,553,330.00. Following the transaction, the chief executive officer owned 414,339 shares of the company’s stock, valued at approximately $30,661,086. This represents a 15.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Rukmini Sivaraman sold 232,712 shares of Nutanix stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $74.55, for a total value of $17,348,679.60. Following the completion of the transaction, the chief financial officer directly owned 92,775 shares of the company’s stock, valued at approximately $6,916,376.25. This represents a 71.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 674,351 shares of company stock worth $49,736,524 over the last three months. Insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. increased its stake in Nutanix by 1,535.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,262,231 shares of the technology company’s stock worth $166,243,000 after buying an additional 3,062,730 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Nutanix by 26.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,589,508 shares of the technology company’s stock worth $60,416,000 after acquiring an additional 331,700 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Nutanix by 628.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,185,120 shares of the technology company’s stock worth $45,046,000 after acquiring an additional 1,022,516 shares during the period. Pacer Advisors Inc. increased its position in shares of Nutanix by 308.1% during the first quarter. Pacer Advisors Inc. now owns 1,135,857 shares of the technology company’s stock worth $43,174,000 after acquiring an additional 857,559 shares during the period. Finally, Ardmore Road Asset Management LP raised its stake in shares of Nutanix by 16.7% in the first quarter. Ardmore Road Asset Management LP now owns 790,400 shares of the technology company’s stock valued at $30,043,000 after acquiring an additional 113,116 shares in the last quarter. Hedge funds and other institutional investors own 85.25% of the company’s stock.

About Nutanix

Nutanix, Inc is a cloud computing and enterprise software company that provides infrastructure and platform services for running applications across private, hybrid and multicloud environments. Its products are designed to simplify the management of data centers and cloud resources by combining computing, storage, virtualization, networking and data services within a unified software platform.

The company’s offerings include the Nutanix Cloud Platform, which supports enterprise applications and workloads across on-premises infrastructure and public clouds.