Rukmini Sivaraman Sells 38,139 Shares of Nutanix (NASDAQ:NTNX) Stock

Key Points

• Nutanix CFO Rukmini Sivaraman sold 38,139 shares at an average price of $70, generating approximately $2.67 million. The sale was made to cover tax-withholding obligations tied to vested equity awards, reducing her direct holdings by 10.49%.
• Nutanix reported stronger-than-expected quarterly results, with earnings per share of $0.60 versus the $0.49 consensus estimate and revenue of $757.08 million, up 15.9% year over year.
• The stock traded near $69.97 and has a consensus analyst rating of “Moderate Buy”, with an average price target of $72.71. Institutional investors own approximately 85.25% of the company.

Nutanix (NASDAQ:NTNX - Get Free Report) CFO Rukmini Sivaraman sold 38,139 shares of Nutanix stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $70.00, for a total value of $2,669,730.00. Following the sale, the chief financial officer directly owned 325,487 shares of the company's stock, valued at approximately $22,784,090. This represents a 10.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nutanix Stock Performance

Shares of NTNX stock traded up $1.27 during mid-day trading on Thursday, reaching $69.97. The stock had a trading volume of 2,532,321 shares, compared to its average volume of 2,663,082. The business's fifty day moving average is $62.88 and its 200-day moving average is $50.96. The company has a current ratio of 1.80, a quick ratio of 1.78 and a debt-to-equity ratio of 1.92. The firm has a market cap of $18.91 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 3.90 and a beta of 0.62. Nutanix has a 1-year low of $34.01 and a 1-year high of $79.76.

Nutanix (NASDAQ:NTNX - Get Free Report) last released its earnings results on Wednesday, August 26th. The technology company reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.49 by $0.11. Nutanix had a negative return on equity of 90.13% and a net margin of 52.81%.The firm had revenue of $757.08 million during the quarter, compared to the consensus estimate of $738.27 million. During the same quarter in the previous year, the company posted $0.37 earnings per share. The company's revenue was up 15.9% compared to the same quarter last year. On average, research analysts forecast that Nutanix will post 1.02 earnings per share for the current year.

Institutional Trading of Nutanix

A number of hedge funds have recently added to or reduced their stakes in NTNX. Sequoia Financial Advisors LLC grew its position in Nutanix by 6.3% during the second quarter. Sequoia Financial Advisors LLC now owns 8,795 shares of the technology company's stock valued at $448,000 after buying an additional 520 shares during the period. Tidal Investments LLC raised its position in shares of Nutanix by 111.2% in the second quarter. Tidal Investments LLC now owns 166,037 shares of the technology company's stock worth $8,461,000 after acquiring an additional 87,426 shares during the period. WINTON GROUP Ltd boosted its stake in shares of Nutanix by 381.3% during the 2nd quarter. WINTON GROUP Ltd now owns 135,180 shares of the technology company's stock worth $6,889,000 after acquiring an additional 107,096 shares in the last quarter. Integrated Wealth Concepts LLC grew its position in shares of Nutanix by 5.8% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 28,698 shares of the technology company's stock valued at $1,462,000 after acquiring an additional 1,579 shares during the period. Finally, NewEdge Advisors LLC increased its stake in shares of Nutanix by 27.4% in the 2nd quarter. NewEdge Advisors LLC now owns 13,466 shares of the technology company's stock valued at $686,000 after purchasing an additional 2,893 shares in the last quarter. 85.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Bank of America reissued a "buy" rating on shares of Nutanix in a report on Thursday, August 27th. Morgan Stanley upped their price target on shares of Nutanix from $55.00 to $63.00 and gave the company an "equal weight" rating in a report on Thursday, August 27th. Wall Street Zen raised Nutanix from a "hold" rating to a "buy" rating in a research report on Saturday, July 4th. Piper Sandler reiterated an "overweight" rating and set a $75.00 price objective (up from $60.00) on shares of Nutanix in a research note on Thursday, August 27th. Finally, UBS Group set a $85.00 price objective on Nutanix in a report on Thursday, August 27th. Nine investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, Nutanix currently has a consensus rating of "Moderate Buy" and a consensus target price of $72.71.

Nutanix Company Profile

Nutanix, Inc is a cloud computing software company that provides infrastructure and management solutions for enterprise data centers, private clouds, public clouds and hybrid multicloud environments. Its platform is designed to simplify the deployment, operation and management of applications and workloads across on-premises infrastructure and multiple cloud providers.

The company's offerings include the Nutanix Cloud Infrastructure platform, which combines compute, storage and virtualization capabilities; the Nutanix Cloud Manager suite for monitoring, automation, governance and cost management; and Nutanix Unified Storage.

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