Nutanix (NASDAQ:NTNX) Shares Down 5.8% - Here's What Happened

Nutanix, Inc. (NASDAQ:NTNX - Get Free Report)'s stock price traded down 5.8% during mid-day trading on Thursday . The company traded as low as $76.89 and last traded at $74.31. 333,350 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 2,575,497 shares. The stock had previously closed at $78.87.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Oppenheimer lifted their price objective on Nutanix from $90.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, February 27th. Susquehanna lifted their price objective on Nutanix from $90.00 to $95.00 and gave the stock a "positive" rating in a research note on Thursday. Piper Sandler reaffirmed an "overweight" rating and issued a $88.00 price objective (up previously from $76.00) on shares of Nutanix in a research note on Thursday. Morgan Stanley reiterated an "overweight" rating and issued a $90.00 target price (up previously from $75.00) on shares of Nutanix in a report on Tuesday, May 20th. Finally, Northland Securities upgraded Nutanix from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $77.00 to $97.00 in a report on Thursday, February 27th. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Nutanix presently has an average rating of "Buy" and a consensus target price of $90.38.

Nutanix Stock Performance

The stock has a fifty day moving average of $70.30 and a 200-day moving average of $68.80. The company has a market cap of $20.07 billion, a PE ratio of -215.03, a PEG ratio of 11.80 and a beta of 0.70.

Insider Activity at Nutanix

In other Nutanix news, CEO Rajiv Ramaswami sold 61,057 shares of Nutanix stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $79.00, for a total transaction of $4,823,503.00. Following the completion of the sale, the chief executive officer now directly owns 497,309 shares of the company's stock, valued at $39,287,411. The trade was a 10.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Groen Max Pieter De sold 5,500,000 shares of Nutanix stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $74.51, for a total value of $409,805,000.00. Following the sale, the director now directly owns 11,354,032 shares of the company's stock, valued at approximately $845,988,924.32. This trade represents a 32.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,568,797 shares of company stock worth $415,209,003 in the last quarter. 6.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Nutanix

A number of institutional investors and hedge funds have recently bought and sold shares of NTNX. Janney Montgomery Scott LLC raised its position in Nutanix by 5.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 36,206 shares of the technology company's stock valued at $2,215,000 after purchasing an additional 1,723 shares in the last quarter. Blue Trust Inc. raised its position in shares of Nutanix by 27.5% in the 4th quarter. Blue Trust Inc. now owns 2,600 shares of the technology company's stock worth $154,000 after acquiring an additional 561 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Nutanix by 24.8% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 146,261 shares of the technology company's stock worth $8,948,000 after acquiring an additional 29,074 shares in the last quarter. Forsta AP Fonden bought a new position in shares of Nutanix in the 4th quarter worth $4,032,000. Finally, Mediolanum International Funds Ltd bought a new position in shares of Nutanix in the 4th quarter worth $2,258,000. 85.25% of the stock is owned by institutional investors.

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.