Nutanix (NASDAQ:NTNX) CFO Sells $17,348,679.60 in Stock

Key Points

• Nutanix CFO Rukmini Sivaraman sold 232,712 shares at an average price of $74.55, generating $17.35 million. Her remaining direct ownership fell 71.5% to 92,775 shares.
• Nutanix shares declined 1.7% to $72.88, although the stock remains near its 52-week high of $75.98. The company has a market capitalization of approximately $19.72 billion.
• Nutanix exceeded quarterly expectations, reporting $0.60 in adjusted earnings per share versus the $0.49 consensus and revenue of $757.08 million, up 15.9% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $73.07.

Nutanix (NASDAQ:NTNX - Get Free Report) CFO Rukmini Sivaraman sold 232,712 shares of Nutanix stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $74.55, for a total value of $17,348,679.60. Following the completion of the transaction, the chief financial officer directly owned 92,775 shares in the company, valued at approximately $6,916,376.25. This represents a 71.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Rukmini Sivaraman also recently made the following trade(s):

• On Thursday, September 17th, Rukmini Sivaraman sold 38,139 shares of Nutanix stock. The shares were sold at an average price of $70.00, for a total value of $2,669,730.00.

Nutanix Trading Down 1.7%

NTNX stock traded down $1.26 during trading on Tuesday, hitting $72.88. The company had a trading volume of 2,235,994 shares, compared to its average volume of 3,786,101. The stock has a market cap of $19.72 billion, a PE ratio of 14.12, a PEG ratio of 3.70 and a beta of 0.64. The business has a 50-day moving average of $67.97 and a 200-day moving average of $54.69. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 1.92. Nutanix has a one year low of $34.01 and a one year high of $75.98.

Nutanix (NASDAQ:NTNX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 26th. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.49 by $0.11. Nutanix had a net margin of 52.81% and a negative return on equity of 90.13%. The firm had revenue of $757.08 million for the quarter, compared to the consensus estimate of $738.27 million. During the same quarter in the previous year, the company earned $0.37 EPS. The company's revenue for the quarter was up 15.9% on a year-over-year basis. Research analysts predict that Nutanix will post 1.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nutanix

Hedge funds and other institutional investors have recently modified their holdings of the company. CX Institutional increased its stake in shares of Nutanix by 134.6% during the 2nd quarter. CX Institutional now owns 488 shares of the technology company's stock worth $25,000 after purchasing an additional 280 shares during the last quarter. Western Wealth Management LLC purchased a new position in Nutanix in the first quarter valued at approximately $27,000. Parkside Financial Bank & Trust lifted its stake in Nutanix by 43.8% in the second quarter. Parkside Financial Bank & Trust now owns 578 shares of the technology company's stock valued at $29,000 after purchasing an additional 176 shares during the last quarter. Frazier Financial Advisors LLC lifted its stake in Nutanix by 1,063.8% in the first quarter. Frazier Financial Advisors LLC now owns 1,094 shares of the technology company's stock valued at $42,000 after purchasing an additional 1,000 shares during the last quarter. Finally, CoreCap Advisors LLC grew its holdings in Nutanix by 28.6% during the second quarter. CoreCap Advisors LLC now owns 900 shares of the technology company's stock valued at $46,000 after purchasing an additional 200 shares during the period. Institutional investors own 85.25% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. KeyCorp boosted their price target on Nutanix from $65.00 to $75.00 and gave the company an "overweight" rating in a research note on Monday, August 24th. Piper Sandler reaffirmed an "overweight" rating and set a $75.00 price objective (up from $60.00) on shares of Nutanix in a research report on Thursday, August 27th. Northland Securities set a $70.00 price objective on shares of Nutanix in a research report on Thursday, August 27th. UBS Group set a $85.00 price objective on shares of Nutanix in a research note on Thursday, August 27th. Finally, Oppenheimer boosted their target price on shares of Nutanix from $80.00 to $85.00 and gave the company an "outperform" rating 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.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $73.07.

Nutanix Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.