Insider Selling: Nutanix (NASDAQ:NTNX) CEO Sells $5,553,330.00 in Stock

Key Points

• Nutanix CEO Rajiv Ramaswami sold 75,045 shares at an average price of $74, generating $5.55 million and reducing his direct holdings by 15.33% to 414,339 shares. He also sold 324,955 shares worth approximately $23.91 million the previous day.
• Nutanix shares traded near their 12-month high at $73.11, with a market capitalization of $19.78 billion. The stock’s average analyst rating is “Moderate Buy”, with a consensus price target of $73.07.
• The company reported quarterly earnings of $0.60 per share, exceeding estimates by $0.11, while revenue rose 15.9% year over year to $757.08 million. Institutional investors own approximately 85.25% of Nutanix.

Nutanix (NASDAQ:NTNX - Get Free Report) CEO Rajiv Ramaswami sold 75,045 shares of the company's stock in a transaction that occurred on Wednesday, October 7th. The shares were sold at an average price of $74.00, for a total value of $5,553,330.00. Following the completion of the transaction, the chief executive officer directly owned 414,339 shares in the company, valued at $30,661,086. The trade was a 15.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Rajiv Ramaswami also recently made the following trade(s):

• On Tuesday, October 6th, Rajiv Ramaswami sold 324,955 shares of Nutanix stock. The stock was sold at an average price of $73.57, for a total value of $23,906,939.35.

Nutanix Stock Performance

Shares of NTNX traded down $0.31 during midday trading on Thursday, reaching $73.11. 1,717,619 shares of the stock were exchanged, compared to its average volume of 3,810,279. Nutanix has a twelve month low of $34.01 and a twelve month high of $74.42. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 1.92. The company has a market cap of $19.78 billion, a P/E ratio of 14.17, a PEG ratio of 3.64 and a beta of 0.64. The stock's 50 day simple moving average is $67.12 and its 200 day simple moving average is $53.97.

Nutanix (NASDAQ:NTNX - Get Free Report) last released its quarterly earnings results on Wednesday, August 26th. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.49 by $0.11. Nutanix had a net margin of 52.81% and a negative return on equity of 90.13%. The business had revenue of $757.08 million for the quarter, compared to the consensus estimate of $738.27 million. During the same period in the prior year, the company posted $0.37 earnings per share. Nutanix's revenue was up 15.9% compared to the same quarter last year. On average, sell-side analysts expect that Nutanix will post 1.17 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Whalen Wealth Management Inc. acquired a new stake in shares of Nutanix in the 3rd quarter valued at $314,000. Doliver Advisors LP grew its position in Nutanix by 3.0% in the third quarter. Doliver Advisors LP now owns 7,657 shares of the technology company's stock valued at $539,000 after acquiring an additional 221 shares during the last quarter. QRG Capital Management Inc. raised its stake in Nutanix by 9.3% during the second quarter. QRG Capital Management Inc. now owns 6,300 shares of the technology company's stock worth $321,000 after acquiring an additional 535 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Nutanix by 6.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 8,795 shares of the technology company's stock valued at $448,000 after purchasing an additional 520 shares in the last quarter. Finally, Tidal Investments LLC grew its stake in shares of Nutanix by 111.2% during the second quarter. Tidal Investments LLC now owns 166,037 shares of the technology company's stock worth $8,461,000 after buying an additional 87,426 shares during the last quarter. 85.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on NTNX shares. Morgan Stanley raised their target price on shares of Nutanix from $55.00 to $63.00 and gave the stock an "equal weight" rating in a report on Thursday, August 27th. Northland Securities set a $70.00 price target on Nutanix in a research report on Thursday, August 27th. Wells Fargo & Company raised their price objective on Nutanix from $55.00 to $65.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 27th. Barclays lifted their price objective on Nutanix from $53.00 to $75.00 and gave the company an "equal weight" rating in a report on Friday, August 28th. Finally, UBS Group set a $85.00 price target on Nutanix in a research report on Thursday, August 27th. Nine analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $73.07.

About Nutanix

Nutanix, Inc develops enterprise cloud software that helps organizations manage applications and data across on-premises infrastructure, public clouds and hybrid multicloud environments. Its platform is designed to simplify the operation of data centers and cloud resources through a unified software experience.

The company's offerings include hyperconverged infrastructure software, the Nutanix Cloud Infrastructure platform and AHV virtualization. Nutanix also provides services for file and object storage, databases, disaster recovery, Kubernetes and application management, as well as tools that help customers monitor, secure and govern their hybrid and multicloud environments.

Founded in 2009 and headquartered in San Jose, California, Nutanix serves businesses, government organizations and other institutions globally through direct sales and channel partners.

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