Morgan Stanley Boosts Nutanix (NASDAQ:NTNX) Price Target to $63.00

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

Several other analysts have also recently commented on NTNX. TheStreet cut shares of Nutanix from a c rating to a d rating in a research note on Wednesday, November 29th. JMP Securities lifted their target price 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. Bank of America lifted their target price on shares of Nutanix from $55.00 to $65.00 and gave the stock a buy rating in a research report on Thursday, February 29th. KeyCorp lifted their target price on shares of Nutanix from $68.00 to $69.00 and gave the stock an overweight rating in a research report on Thursday, February 29th. Finally, Royal Bank of Canada lifted their target price on shares of Nutanix from $68.00 to $72.00 and gave the stock an outperform rating in a research report on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $63.92.

Nutanix Stock Down 0.3 %

Shares of NASDAQ:NTNX opened at $61.72 on Wednesday. The company has a market cap of $15.08 billion, a price-to-earnings ratio of -171.44 and a beta of 1.29. The firm’s 50-day simple moving average is $60.03 and its 200-day simple moving average is $47.65. Nutanix has a fifty-two week low of $23.34 and a fifty-two week high of $66.99.

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

Insider Activity

In related news, insider Tyler Wall sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $62.25, for a total value of $933,750.00. Following the completion of the sale, the insider now directly owns 13,168 shares in the company, valued at $819,708. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Tyler Wall sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $62.25, for a total value of $933,750.00. Following the completion of the sale, the insider now directly owns 13,168 shares in the company, valued at $819,708. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Steven J. Gomo sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were 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 owns 3,962 shares of the company’s stock, valued at $254,003.82. The disclosure for this sale can be found here. Insiders sold a total of 76,477 shares of company stock valued at $4,836,249 over the last 90 days. Insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Nutanix

Several institutional investors have recently bought and sold shares of NTNX. FIL Ltd grew its stake in Nutanix by 74.7% during the fourth quarter. FIL Ltd now owns 8,908,166 shares of the technology company’s stock worth $424,830,000 after buying an additional 3,809,981 shares during the period. Norges Bank purchased a new stake in Nutanix during the fourth quarter worth approximately $137,465,000. Jericho Capital Asset Management L.P. purchased a new stake in Nutanix during the third quarter worth approximately $82,421,000. Price T Rowe Associates Inc. MD grew its stake in Nutanix by 86.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,373,347 shares of the technology company’s stock worth $160,876,000 after buying an additional 1,567,417 shares during the period. Finally, Vanguard Group Inc. grew its stake in Nutanix by 5.0% during the first quarter. Vanguard Group Inc. now owns 23,344,292 shares of the technology company’s stock worth $626,094,000 after buying an additional 1,116,856 shares during the period. 85.25% of the stock is currently owned by hedge funds and other institutional investors.

About Nutanix

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.