Nutanix Inc. (NTNX) Downgraded by Zacks Investment Research
Zacks Investment Research cut shares of Nutanix Inc. (NASDAQ:NTNX) from a buy rating to a hold rating in a research report report published on Wednesday.
According to Zacks, “Nutanix, Inc. provides an enterprise cloud platform which converges silos of server, virtualization and storage into integrated solution and connects to public cloud services. Nutanix, Inc. is based in San Jose, United States. “
NTNX has been the topic of a number of other reports. Robert W. Baird reiterated a buy rating and set a $28.00 target price on shares of Nutanix in a research report on Friday, September 1st. Susquehanna Bancshares Inc reiterated a neutral rating and set a $21.00 target price (up from $19.00) on shares of Nutanix in a research report on Sunday, September 3rd. JMP Securities reiterated an outperform rating and set a $35.00 target price on shares of Nutanix in a research report on Sunday, September 3rd. KeyCorp reiterated a buy rating and set a $32.00 target price on shares of Nutanix in a research report on Friday, September 1st. Finally, Piper Jaffray Companies set a $28.00 price objective on shares of Nutanix and gave the company a buy rating in a report on Monday, October 23rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $30.25.
Shares of Nutanix (NASDAQ:NTNX) traded up $0.25 during mid-day trading on Wednesday, hitting $28.87. 1,997,500 shares of the stock were exchanged, compared to its average volume of 3,074,125. Nutanix has a 12 month low of $14.38 and a 12 month high of $34.96.
Nutanix (NASDAQ:NTNX) last announced its earnings results on Thursday, August 31st. The technology company reported ($0.33) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.38) by $0.05. Nutanix had a negative net margin of 59.72% and a negative return on equity of 295.56%. The company had revenue of $226.10 million for the quarter, compared to analyst estimates of $216.00 million. Nutanix’s revenue was up 61.7% compared to the same quarter last year. research analysts anticipate that Nutanix will post -2.19 EPS for the current fiscal year.
In other Nutanix news, insider Sunil Potti sold 10,000 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $21.43, for a total value of $214,300.00. Following the sale, the insider now directly owns 123,603 shares in the company, valued at $2,648,812.29. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP David Sangster sold 27,000 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $27.92, for a total transaction of $753,840.00. Following the completion of the sale, the executive vice president now owns 78,000 shares in the company, valued at $2,177,760. The disclosure for this sale can be found here. Over the last quarter, insiders sold 536,891 shares of company stock worth $12,537,319.
Institutional investors and hedge funds have recently bought and sold shares of the business. Wells Fargo & Company MN increased its position in shares of Nutanix by 98.8% during the third quarter. Wells Fargo & Company MN now owns 313,628 shares of the technology company’s stock worth $7,022,000 after acquiring an additional 155,848 shares in the last quarter. Trexquant Investment LP bought a new stake in shares of Nutanix during the third quarter worth $871,000. Legal & General Group Plc increased its position in shares of Nutanix by 54.7% during the third quarter. Legal & General Group Plc now owns 13,615 shares of the technology company’s stock worth $305,000 after acquiring an additional 4,814 shares in the last quarter. Great West Life Assurance Co. Can increased its position in shares of Nutanix by 1,837.8% during the third quarter. Great West Life Assurance Co. Can now owns 71,700 shares of the technology company’s stock worth $1,602,000 after acquiring an additional 68,000 shares in the last quarter. Finally, American International Group Inc. increased its position in shares of Nutanix by 74.5% during the third quarter. American International Group Inc. now owns 37,692 shares of the technology company’s stock worth $844,000 after acquiring an additional 16,098 shares in the last quarter. Institutional investors own 31.48% of the company’s stock.
Nutanix Company Profile
Nutanix, Inc is a United States-based company, which provides an enterprise cloud platform that converges silos of server, virtualization and storage into an integrated solution. The Company’s enterprise cloud platform connects to public cloud services. It has operations in the United States; Europe, the Middle East and Africa; Asia-Pacific, and Other Americas.
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