Nutanix Inc (NTNX) Receives $59.59 Consensus Target Price from Brokerages
Nutanix Inc (NASDAQ:NTNX) has been given an average recommendation of “Buy” by the twenty-three research firms that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and sixteen have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $59.59.
Several brokerages have issued reports on NTNX. Piper Jaffray Companies reaffirmed an “overweight” rating on shares of Nutanix in a report on Monday, August 27th. Jefferies Financial Group cut shares of Nutanix from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a report on Friday, August 17th. JPMorgan Chase & Co. raised shares of Nutanix from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $39.00 to $54.00 in a report on Thursday, August 30th. Susquehanna Bancshares reissued a “negative” rating and set a $33.00 price objective (down from $55.00) on shares of Nutanix in a report on Monday, September 24th. Finally, Raymond James boosted their price objective on shares of Nutanix from $64.00 to $74.00 and gave the company a “buy” rating in a report on Friday, August 31st.
Nutanix stock traded down $1.02 during trading hours on Wednesday, hitting $40.44. The stock had a trading volume of 146,709 shares, compared to its average volume of 3,653,003. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.76 and a current ratio of 2.76. The stock has a market capitalization of $7.39 billion, a PE ratio of -24.05 and a beta of 0.69. Nutanix has a 12-month low of $25.50 and a 12-month high of $64.87.
In related news, EVP David Sangster sold 7,916 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $55.75, for a total transaction of $441,317.00. Following the completion of the sale, the executive vice president now directly owns 7,916 shares in the company, valued at $441,317. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Mcadam sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $51.46, for a total transaction of $771,900.00. Following the sale, the director now owns 84,648 shares of the company’s stock, valued at $4,355,986.08. The disclosure for this sale can be found here. Insiders have sold 39,204 shares of company stock valued at $1,974,724 over the last 90 days. 19.81% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in NTNX. FMR LLC grew its position in Nutanix by 5.4% during the second quarter. FMR LLC now owns 17,727,613 shares of the technology company’s stock valued at $914,213,000 after buying an additional 900,523 shares during the period. Millennium Management LLC grew its position in Nutanix by 189.0% during the second quarter. Millennium Management LLC now owns 1,005,004 shares of the technology company’s stock valued at $51,828,000 after buying an additional 657,294 shares during the period. BlackRock Inc. grew its position in Nutanix by 6.7% during the first quarter. BlackRock Inc. now owns 6,269,670 shares of the technology company’s stock valued at $307,903,000 after buying an additional 394,331 shares during the period. Blair William & Co. IL grew its position in Nutanix by 3,192.3% during the first quarter. Blair William & Co. IL now owns 406,439 shares of the technology company’s stock valued at $19,960,000 after buying an additional 394,094 shares during the period. Finally, Renaissance Technologies LLC grew its position in Nutanix by 14.7% during the second quarter. Renaissance Technologies LLC now owns 3,068,900 shares of the technology company’s stock valued at $158,263,000 after buying an additional 392,700 shares during the period. Institutional investors own 49.44% of the company’s stock.
Nutanix, Inc, together with its subsidiaries, develops and provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. Its solution addresses a range of workloads, including enterprise applications, databases, virtual desktop infrastructure, unified communications, and big data analytics.
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