Nutanix Inc (NASDAQ:NTNX) traded up 6.9% during mid-day trading on Tuesday . The stock traded as high as $50.64 and last traded at $49.65. 6,069,792 shares were traded during mid-day trading, an increase of 69% from the average session volume of 3,584,440 shares. The stock had previously closed at $46.43.

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada raised their target price on shares of Nutanix to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, June 13th. JPMorgan Chase & Co. upgraded shares of Nutanix from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $39.00 to $54.00 in a report on Thursday, August 30th. Raymond James raised their target price on shares of Nutanix from $64.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, August 31st. Needham & Company LLC raised their target price on shares of Nutanix from $65.00 to $71.00 and gave the stock a “buy” rating in a report on Friday, August 31st. Finally, Morgan Stanley raised their target price on shares of Nutanix from $55.00 to $57.00 and gave the stock an “equal weight” rating in a report on Friday, August 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have issued a buy rating to the stock. Nutanix currently has a consensus rating of “Buy” and a consensus target price of $59.00.

The stock has a market cap of $8.96 billion, a P/E ratio of -28.66 and a beta of 0.40. The company has a current ratio of 3.05, a quick ratio of 3.05 and a debt-to-equity ratio of 1.19.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings data on Thursday, August 30th. The technology company reported ($0.11) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.48) by $0.37. The firm had revenue of $303.75 million for the quarter, compared to the consensus estimate of $298.30 million. Nutanix had a negative net margin of 25.72% and a negative return on equity of 95.75%. equities analysts forecast that Nutanix Inc will post -2.18 EPS for the current year.

In other news, EVP David Sangster sold 7,916 shares of the firm’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $55.75, for a total transaction of $441,317.00. Following the sale, the executive vice president now directly owns 7,916 shares in the company, valued at approximately $441,317. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Scarpelli sold 50,000 shares of the firm’s stock in a transaction on Wednesday, June 20th. The shares were sold at an average price of $60.99, for a total transaction of $3,049,500.00. Following the sale, the director now owns 58,165 shares in the company, valued at $3,547,483.35. The disclosure for this sale can be found here. Insiders have sold a total of 120,833 shares of company stock worth $6,745,393 over the last 90 days. Insiders own 19.81% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC bought a new stake in Nutanix in the 2nd quarter valued at $174,000. Thompson Siegel & Walmsley LLC increased its holdings in Nutanix by 97.6% in the 1st quarter. Thompson Siegel & Walmsley LLC now owns 4,150 shares of the technology company’s stock valued at $204,000 after acquiring an additional 2,050 shares during the last quarter. Aperio Group LLC bought a new stake in Nutanix in the 1st quarter valued at $205,000. AMP Capital Investors Ltd bought a new stake in Nutanix in the 2nd quarter valued at $232,000. Finally, People s United Financial Inc. purchased a new position in shares of Nutanix in the 2nd quarter worth $271,000. Institutional investors own 49.44% of the company’s stock.

About Nutanix (NASDAQ:NTNX)

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.

Featured Article: Investing in Growth Stocks

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.