Nutanix (NASDAQ:NTNX) Shares Gap Down - Should You Sell?

Nutanix, Inc. (NASDAQ:NTNX - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $78.34, but opened at $76.74. Nutanix shares last traded at $76.60, with a volume of 862,125 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wells Fargo & Company boosted their target price on Nutanix from $75.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 27th. Northland Capmk upgraded shares of Nutanix from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 27th. Morgan Stanley reiterated an "overweight" rating and set a $90.00 target price (up from $75.00) on shares of Nutanix in a report on Tuesday, May 20th. Needham & Company LLC restated a "buy" rating and issued a $92.00 price target on shares of Nutanix in a report on Thursday, May 29th. Finally, Royal Bank of Canada lifted their price objective on Nutanix from $83.00 to $95.00 and gave the company an "outperform" rating in a report on Thursday, February 27th. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Nutanix presently has an average rating of "Buy" and an average target price of $90.38.

Nutanix Stock Performance

The stock has a market cap of $20.53 billion, a price-to-earnings ratio of -219.87, a P/E/G ratio of 11.80 and a beta of 0.70. The business has a 50-day simple moving average of $70.79 and a two-hundred day simple moving average of $69.02.

Insider Buying and Selling

In other news, CEO Rajiv Ramaswami sold 7,740 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $75.00, for a total value of $580,500.00. Following the completion of the transaction, the chief executive officer now owns 558,366 shares in the company, valued at $41,877,450. This trade represents a 1.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Larson Financial Group LLC lifted its stake in Nutanix by 28.6% in the fourth quarter. Larson Financial Group LLC now owns 656 shares of the technology company's stock valued at $40,000 after acquiring an additional 146 shares during the last quarter. True Wealth Design LLC raised its stake in Nutanix by 13.2% in the 4th quarter. True Wealth Design LLC now owns 1,249 shares of the technology company's stock valued at $76,000 after acquiring an additional 146 shares during the period. Azzad Asset Management Inc. ADV increased its holdings in shares of Nutanix by 0.5% in the fourth quarter. Azzad Asset Management Inc. ADV now owns 34,887 shares of the technology company's stock valued at $2,134,000 after purchasing an additional 159 shares during the last quarter. Concurrent Investment Advisors LLC raised its position in shares of Nutanix by 4.4% in the first quarter. Concurrent Investment Advisors LLC now owns 4,163 shares of the technology company's stock valued at $291,000 after purchasing an additional 177 shares during the period. Finally, Avantax Advisory Services Inc. lifted its stake in shares of Nutanix by 3.4% during the 4th quarter. Avantax Advisory Services Inc. now owns 5,698 shares of the technology company's stock worth $349,000 after buying an additional 188 shares during the last quarter. 85.25% of the stock is owned by institutional investors and hedge funds.

Nutanix Company Profile

Nutanix, Inc engages in the provision of a cloud platform leveraging web-scale engineering and consumer-grade design. It operates through the following geographic segments: United States, Europe, the Middle East, Africa, Asia Pacific, and Other Americas. The firm also provides software solutions and cloud services to customers' enterprise infrastructure.

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