Nutanix (NASDAQ:NTNX) Trading Down 2.6%

Shares of Nutanix, Inc. (NASDAQ:NTNX - Get Free Report) traded down 2.6% during trading on Monday . The company traded as low as $65.73 and last traded at $65.83. 425,279 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 2,586,347 shares. The stock had previously closed at $67.58.

Analyst Ratings Changes

NTNX has been the topic of a number of research reports. Needham & Company LLC increased their price target on Nutanix from $62.00 to $72.00 and gave the stock a "buy" rating in a research report on Thursday, February 29th. Bank of America boosted their target price on shares of Nutanix from $55.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, February 29th. William Blair upgraded shares of Nutanix from a "market perform" rating to an "outperform" rating in a research note on Wednesday, January 17th. Susquehanna boosted their price objective on Nutanix from $60.00 to $75.00 and gave the stock a "positive" rating in a research report on Wednesday, April 10th. Finally, Raymond James upgraded Nutanix from a "market perform" rating to an "outperform" rating and set a $72.00 target price on the stock in a research report on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $65.69.

Nutanix Price Performance

The business has a fifty day moving average of $63.19 and a 200-day moving average of $53.53. The stock has a market capitalization of $16.03 billion, a price-to-earnings ratio of -181.92 and a beta of 1.27.

Nutanix (NASDAQ:NTNX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.17 earnings per share for the quarter. The business had revenue of $565.23 million for the quarter, compared to the consensus estimate of $551.82 million. As a group, research analysts anticipate that Nutanix, Inc. will post -0.02 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Rukmini Sivaraman sold 53,029 shares of the stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $64.77, for a total transaction of $3,434,688.33. Following the completion of the sale, the chief financial officer now owns 144,635 shares in the company, valued at approximately $9,368,008.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Steven J. Gomo sold 25,000 shares of the firm's stock in a transaction on Friday, March 1st. The stock was sold at an average price of $64.11, for a total value of $1,602,750.00. Following the completion of the sale, the director now owns 3,962 shares of the company's stock, valued at $254,003.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Rukmini Sivaraman sold 53,029 shares of the business's stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $64.77, for a total value of $3,434,688.33. Following the completion of the sale, the chief financial officer now directly owns 144,635 shares of the company's stock, valued at approximately $9,368,008.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 129,506 shares of company stock worth $8,270,938. 0.46% of the stock is owned by insiders.

Institutional Trading of Nutanix

A number of hedge funds have recently modified their holdings of NTNX. Segantii Capital Management Ltd acquired a new stake in Nutanix in the 3rd quarter valued at $2,672,000. Lisanti Capital Growth LLC acquired a new stake in shares of Nutanix during the 3rd quarter worth about $7,135,000. Allspring Global Investments Holdings LLC lifted its holdings in Nutanix by 641.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 57,174 shares of the technology company's stock valued at $1,994,000 after purchasing an additional 49,465 shares during the last quarter. Raymond James & Associates grew its stake in Nutanix by 306.0% during the fourth quarter. Raymond James & Associates now owns 73,765 shares of the technology company's stock worth $3,518,000 after buying an additional 55,596 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of Nutanix by 7,970.6% during the fourth quarter. International Assets Investment Management LLC now owns 103,869 shares of the technology company's stock worth $4,954,000 after buying an additional 102,582 shares in the last quarter. Institutional investors own 85.25% of the company's stock.

Nutanix Company Profile

Nutanix, Inc provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. The company offers hyperconverged infrastructure software stack that converges virtualization, storage, and networking services into a turnkey solution; Acropolis Hypervisor, an enterprise-grade virtualization solution; flow virtual networking and flow network security, which offers services to visualize the network, automate common network operations, and build virtual private networks; Nutanix Kubernetes Engine for automated deployment and management of Kubernetes clusters to simplify the provisioning, operations, and lifecycle management of cloud-native environments, applications, and microservices; and Nutanix Cloud Clusters.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.