Nutanix (NTNX) Cut to “Sell” at Zacks Investment Research

Nutanix (NASDAQ:NTNX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.

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 subject of several other research reports. Vetr downgraded shares of Nutanix from a “buy” rating to a “sell” rating and set a $31.98 target price for the company. in a research note on Tuesday, February 20th. Wells Fargo boosted their target price on shares of Nutanix from $43.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, March 2nd. BTIG Research raised shares of Nutanix from a “neutral” rating to a “buy” rating in a research note on Friday, March 9th. Goldman Sachs downgraded shares of Nutanix from a “conviction-buy” rating to a “buy” rating in a research note on Friday, March 23rd. Finally, Bank of America boosted their target price on shares of Nutanix from $45.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, March 9th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $49.82.

Nutanix opened at $57.33 on Tuesday, MarketBeat Ratings reports. The firm has a market cap of $9.71 billion, a PE ratio of -17.22 and a beta of 0.38. The company has a debt-to-equity ratio of 1.38, a current ratio of 3.10 and a quick ratio of 3.10. Nutanix has a 52-week low of $57.05 and a 52-week high of $60.00.

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

In other news, VP Kenneth W. Long III sold 30,000 shares of the business’s stock in a transaction dated Wednesday, April 4th. The stock was sold at an average price of $50.22, for a total transaction of $1,506,600.00. Following the completion of the sale, the vice president now owns 151,628 shares in the company, valued at approximately $7,614,758.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Sudheesh Nair Vadakkedath sold 40,000 shares of the business’s stock in a transaction dated Monday, May 7th. The stock was sold at an average price of $54.19, for a total value of $2,167,600.00. Following the sale, the president now owns 207,247 shares of the company’s stock, valued at approximately $11,230,714.93. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,458,246 shares of company stock valued at $99,766,863. Corporate insiders own 19.81% of the company’s stock.

Several large investors have recently modified their holdings of NTNX. California State Teachers Retirement System grew its holdings in shares of Nutanix by 47.3% during the 3rd quarter. California State Teachers Retirement System now owns 90,900 shares of the technology company’s stock worth $2,035,000 after purchasing an additional 29,200 shares during the period. Trinity Street Asset Management LLP purchased a new stake in shares of Nutanix during the 4th quarter worth about $29,363,000. Bank of Montreal Can grew its holdings in shares of Nutanix by 77.9% during the 4th quarter. Bank of Montreal Can now owns 51,549 shares of the technology company’s stock worth $1,819,000 after purchasing an additional 22,569 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in shares of Nutanix by 80.0% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 359,150 shares of the technology company’s stock worth $12,671,000 after purchasing an additional 159,645 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in shares of Nutanix during the 4th quarter worth about $842,000. Institutional investors and hedge funds own 43.86% of the company’s stock.

About Nutanix

Nutanix, Inc develops and provides an enterprise cloud operating system software. It offers enterprise applications, virtual desktop infrastructure, virtualization and cloud, big data, remote and branch office IT, and data protection and disaster recovery solutions; and hardware platforms and software options; and support and services.

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