Nutanix (NTNX) Downgraded to Sell at Vetr

Vetr downgraded shares of Nutanix (NASDAQ:NTNX) from a hold rating to a sell rating in a research note released on Wednesday, March 28th. Vetr currently has $46.18 price target on the technology company’s stock.

Other analysts have also issued research reports about the stock. JPMorgan Chase reiterated an underweight rating and issued a $37.00 target price (up previously from $32.00) on shares of Nutanix in a research report on Tuesday, March 13th. Royal Bank of Canada lifted their target price on shares of Nutanix to $58.00 and gave the company an outperform rating in a research report on Tuesday, March 13th. They noted that the move was a valuation call. Piper Jaffray reiterated an overweight rating and issued a $57.00 target price on shares of Nutanix in a research report on Tuesday, March 13th. Needham & Company LLC raised their price target on shares of Nutanix from $48.00 to $61.00 and gave the stock a buy rating in a research note on Tuesday, March 13th. Finally, Morgan Stanley reissued an equal weight rating and issued a $52.00 price target (up from $42.00) on shares of Nutanix in a research note on Tuesday, March 13th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $48.32.

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NTNX stock traded up $1.20 during midday trading on Wednesday, hitting $53.49. 2,580,765 shares of the stock traded hands, compared to its average volume of 4,543,668. The firm has a market cap of $8,593.31, a PE ratio of -16.06 and a beta of 0.38. The company has a debt-to-equity ratio of 1.38, a quick ratio of 3.10 and a current ratio of 3.10. Nutanix has a 1-year low of $14.38 and a 1-year high of $55.25.

Nutanix (NASDAQ:NTNX) last released its quarterly earnings results on Thursday, March 1st. The technology company reported ($0.14) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.06. Nutanix had a negative net margin of 33.34% and a negative return on equity of 196.67%. The company had revenue of $286.70 million for the quarter, compared to analyst estimates of $283.22 million. During the same quarter last year, the business earned ($0.28) earnings per share. The firm’s revenue was up 44.1% on a year-over-year basis. research analysts predict that Nutanix will post -1.59 earnings per share for the current fiscal year.

In other Nutanix news, major shareholder Peter Nieh sold 63,227 shares of the business’s stock in a transaction that occurred on Wednesday, April 4th. The shares were sold at an average price of $49.62, for a total transaction of $3,137,323.74. Following the completion of the transaction, the insider now owns 200,000 shares in the company, valued at approximately $9,924,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Sudheesh Nair Vadakkedath sold 40,000 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $30.35, for a total transaction of $1,214,000.00. Following the completion of the transaction, the president now owns 193,856 shares of the company’s stock, valued at approximately $5,883,529.60. The disclosure for this sale can be found here. Insiders have sold a total of 2,736,304 shares of company stock valued at $108,421,885 in the last quarter. 19.81% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of NTNX. BlackRock Inc. boosted its holdings in shares of Nutanix by 89.6% in the 4th quarter. BlackRock Inc. now owns 5,875,339 shares of the technology company’s stock valued at $207,282,000 after buying an additional 2,776,194 shares in the last quarter. Contour Asset Management LLC purchased a new stake in Nutanix in the 4th quarter valued at $35,868,000. Trinity Street Asset Management LLP purchased a new stake in Nutanix in the 4th quarter valued at $29,363,000. Cramer Rosenthal Mcglynn LLC raised its position in Nutanix by 124.9% in the 4th quarter. Cramer Rosenthal Mcglynn LLC now owns 1,473,512 shares of the technology company’s stock valued at $51,986,000 after purchasing an additional 818,378 shares during the last quarter. Finally, Castleark Management LLC purchased a new stake in Nutanix in the 4th quarter valued at $11,051,000. Institutional investors and hedge funds own 43.22% of the company’s stock.

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About Nutanix

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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Nutanix (NASDAQ:NTNX)

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