Nutanix (NASDAQ:NTNX) Issues Quarterly Earnings Results

Nutanix (NASDAQ:NTNXGet Free Report) posted its quarterly earnings data on Wednesday. The technology company reported $0.17 earnings per share (EPS) for the quarter, reports. The company had revenue of $565.23 million for the quarter, compared to analysts’ expectations of $551.82 million. Nutanix updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.

Nutanix Stock Up 2.0 %

Shares of NTNX opened at $64.40 on Friday. The stock has a market capitalization of $15.63 billion, a P/E ratio of -178.89 and a beta of 1.29. Nutanix has a twelve month low of $23.34 and a twelve month high of $65.83. The firm has a fifty day simple moving average of $53.98 and a two-hundred day simple moving average of $43.31.

Insider Transactions at Nutanix

In other news, COO David Sangster sold 10,616 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $46.04, for a total transaction of $488,760.64. Following the transaction, the chief operating officer now directly owns 68,471 shares of the company’s stock, valued at $3,152,404.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Rajiv Ramaswami sold 87,174 shares of the stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $46.04, for a total value of $4,013,490.96. Following the completion of the transaction, the chief executive officer now directly owns 299,328 shares of the company’s stock, valued at $13,781,061.12. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO David Sangster sold 10,616 shares of the firm’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $46.04, for a total transaction of $488,760.64. Following the completion of the sale, the chief operating officer now owns 68,471 shares of the company’s stock, valued at $3,152,404.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 157,229 shares of company stock worth $7,276,868. Company insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On Nutanix

Institutional investors and hedge funds have recently made changes to their positions in the business. Atlantic Edge Private Wealth Management LLC purchased a new position in Nutanix during the fourth quarter valued at $29,000. GAMMA Investing LLC purchased a new position in shares of Nutanix in the 4th quarter worth about $30,000. BluePath Capital Management LLC bought a new position in Nutanix in the 3rd quarter worth about $31,000. Point72 Hong Kong Ltd purchased a new stake in Nutanix during the 1st quarter valued at about $35,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Nutanix during the 4th quarter valued at about $40,000. Institutional investors own 78.74% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Needham & Company LLC upped their price objective on Nutanix from $62.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday. Morgan Stanley upped their price objective on shares of Nutanix from $38.00 to $50.00 and gave the company an “equal weight” rating in a report on Thursday, November 30th. Barclays lifted their target price on shares of Nutanix from $49.00 to $68.00 and gave the stock an “overweight” rating in a research note on Thursday. StockNews.com cut shares of Nutanix from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 12th. Finally, Piper Sandler lifted their price objective on shares of Nutanix from $67.00 to $76.00 and gave the company an “overweight” rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Nutanix presently has an average rating of “Moderate Buy” and an average target price of $62.83.

View Our Latest Research Report on NTNX

About Nutanix

(Get Free Report)

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.

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Earnings History for Nutanix (NASDAQ:NTNX)

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