Nutanix (NTNX) Receives New Coverage from Analysts at OTR Global

Investment analysts at OTR Global started coverage on shares of Nutanix (NASDAQ:NTNX) in a research report issued to clients and investors on Thursday, The Fly reports. The brokerage set a “neutral” rating on the technology company’s stock.

A number of other research analysts have also recently commented on the company. Maxim Group reiterated a “buy” rating and issued a $58.00 price target (down from $62.00) on shares of Nutanix in a research note on Friday, March 22nd. Odeon Capital Group initiated coverage on Nutanix in a research note on Thursday, May 9th. They issued a “buy” rating for the company. William Blair reiterated an “outperform” rating on shares of Nutanix in a research note on Thursday, March 21st. Raymond James cut Nutanix from an “outperform” rating to a “market perform” rating in a research note on Monday, March 4th. Finally, Jefferies Financial Group increased their price target on Nutanix from $42.00 to $49.00 in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the stock. Nutanix currently has a consensus rating of “Buy” and a consensus target price of $53.31.

Shares of NTNX stock traded up $0.96 during trading hours on Thursday, reaching $39.35. The company’s stock had a trading volume of 2,774,291 shares, compared to its average volume of 3,747,000. The company has a market cap of $6.99 billion, a PE ratio of -23.28 and a beta of 1.07. Nutanix has a fifty-two week low of $32.52 and a fifty-two week high of $64.87. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.55 and a current ratio of 2.55.

Nutanix (NASDAQ:NTNX) last issued its earnings results on Thursday, February 28th. The technology company reported ($0.55) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.57) by $0.02. The firm had revenue of $335.36 million for the quarter, compared to the consensus estimate of $331.04 million. Nutanix had a negative return on equity of 90.83% and a negative net margin of 31.41%. On average, equities analysts predict that Nutanix will post -2.95 EPS for the current fiscal year.

In related news, COO David Sangster sold 7,917 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $35.99, for a total transaction of $284,932.83. Following the completion of the transaction, the chief operating officer now directly owns 7,917 shares of the company’s stock, valued at approximately $284,932.83. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John Mcadam sold 15,000 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $40.00, for a total value of $600,000.00. Following the transaction, the director now directly owns 54,024 shares of the company’s stock, valued at $2,160,960. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,049 shares of company stock valued at $1,385,135. 14.57% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in NTNX. JPMorgan Chase & Co. raised its position in Nutanix by 0.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,482,788 shares of the technology company’s stock worth $106,065,000 after purchasing an additional 15,922 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Nutanix by 6.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 372,752 shares of the technology company’s stock worth $15,923,000 after buying an additional 22,886 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Nutanix by 16.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 174,302 shares of the technology company’s stock worth $7,446,000 after buying an additional 24,815 shares in the last quarter. Vanguard Group Inc grew its stake in shares of Nutanix by 3.7% in the 3rd quarter. Vanguard Group Inc now owns 10,774,780 shares of the technology company’s stock worth $460,298,000 after buying an additional 387,316 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in shares of Nutanix by 32.6% in the 4th quarter. State of Alaska Department of Revenue now owns 17,287 shares of the technology company’s stock worth $718,000 after buying an additional 4,248 shares in the last quarter. 52.85% of the stock is owned by institutional investors and hedge funds.

About Nutanix

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.

Featured Article: What is Elliott Wave theory?

The Fly

Analyst Recommendations for Nutanix (NASDAQ:NTNX)

Receive News & Ratings for Nutanix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nutanix and related companies with MarketBeat.com's FREE daily email newsletter.