Nutanix (NASDAQ:NTNX) Short Interest Down 42.5% in July

Key Points

• Nutanix short interest fell 42.5% in July to 15.1 million shares, representing 5.7% of shares outstanding and 5.8 days to cover.
• Institutional investors own 85.25% of Nutanix, with major holders including Vanguard, AQR Capital Management, Geode Capital, FIL and First Trust increasing their positions.
• Analysts maintain a “Moderate Buy” consensus with a $61.86 price target, while Nutanix’s latest quarterly results exceeded expectations with $0.47 in earnings per share and $703.1 million in revenue.

Nutanix (NASDAQ:NTNX - Get Free Report) was the target of a large decline in short interest during the month of July. As of July 31st, there was short interest totaling 15,061,103 shares, a decline of 42.5% from the July 15th total of 26,187,342 shares. Currently, 5.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,585,234 shares, the days-to-cover ratio is currently 5.8 days.

Institutional Investors Weigh In On Nutanix

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Nutanix by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 27,514,943 shares of the technology company's stock worth $1,422,247,000 after purchasing an additional 832,468 shares during the period. AQR Capital Management LLC lifted its holdings in Nutanix by 72.8% in the fourth quarter. AQR Capital Management LLC now owns 11,452,714 shares of the technology company's stock worth $591,991,000 after acquiring an additional 4,826,443 shares during the last quarter. Geode Capital Management LLC boosted its stake in Nutanix by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 5,283,964 shares of the technology company's stock valued at $272,452,000 after acquiring an additional 135,533 shares during the period. FIL Ltd boosted its stake in Nutanix by 180.1% in the fourth quarter. FIL Ltd now owns 4,333,937 shares of the technology company's stock valued at $224,021,000 after acquiring an additional 2,786,929 shares during the period. Finally, First Trust Advisors LP grew its holdings in shares of Nutanix by 14.0% during the fourth quarter. First Trust Advisors LP now owns 3,647,276 shares of the technology company's stock valued at $188,528,000 after purchasing an additional 447,806 shares during the last quarter. 85.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on NTNX shares. Barclays upped their target price on Nutanix from $47.00 to $53.00 and gave the company an "equal weight" rating in a research note on Thursday, May 28th. Piper Sandler reissued an "overweight" rating on shares of Nutanix in a research note on Wednesday, June 24th. KeyCorp restated an "overweight" rating on shares of Nutanix in a report on Thursday, May 28th. Wall Street Zen upgraded shares of Nutanix from a "hold" rating to a "buy" rating in a report on Saturday, July 4th. Finally, Wells Fargo & Company raised their target price on shares of Nutanix from $50.00 to $55.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $61.86.

Nutanix Price Performance

Shares of NTNX opened at $66.61 on Monday. The firm has a market cap of $18.01 billion, a price-to-earnings ratio of 70.12, a PEG ratio of 4.41 and a beta of 0.60. The business's 50 day moving average is $54.56 and its two-hundred day moving average is $46.36. Nutanix has a 52-week low of $34.01 and a 52-week high of $82.42.

Nutanix (NASDAQ:NTNX - Get Free Report) last released its quarterly earnings results on Wednesday, May 27th. The technology company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.12. The business had revenue of $703.07 million during the quarter, compared to the consensus estimate of $686.34 million. Nutanix had a net margin of 10.03% and a negative return on equity of 38.96%. The business's quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.22 earnings per share. On average, equities analysts expect that Nutanix will post 0.71 earnings per share for the current fiscal year.

Nutanix Company Profile

Nutanix, Inc is an enterprise cloud computing company that develops software to simplify the deployment and management of datacenter infrastructure. Founded in 2009 and headquartered in San Jose, California, Nutanix is best known for pioneering hyperconverged infrastructure (HCI), an approach that integrates compute, storage and virtualization into a single software-defined platform aimed at reducing complexity and operational overhead in private and hybrid cloud environments.

The company's product portfolio centers on the Nutanix Cloud Platform, which includes its core AOS software for HCI, Prism for infrastructure management and automation, and a suite of additional services such as Calm for application automation, Files and Volumes for file and block services, Karbon for Kubernetes orchestration, and Era for database management.

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