Investors Purchase Large Volume of Call Options on Nutanix (NASDAQ:NTNX)

Nutanix, Inc. (NASDAQ:NTNX) was the target of unusually large options trading activity on Wednesday. Stock traders bought 13,779 call options on the company. This is an increase of approximately 388% compared to the typical volume of 2,821 call options.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NTNX. Piper Sandler upped their target price on Nutanix from $77.00 to $83.00 and gave the stock an “overweight” rating in a research note on Wednesday. Morgan Stanley upped their price objective on shares of Nutanix from $72.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of Nutanix from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Wells Fargo & Company upped their price target on shares of Nutanix from $60.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Needham & Company LLC raised their price objective on Nutanix from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $78.86.

Nutanix Trading Down 7.8 %

NASDAQ:NTNX opened at $66.70 on Thursday. The company has a 50-day moving average price of $64.64 and a 200-day moving average price of $59.40. The stock has a market cap of $17.69 billion, a price-to-earnings ratio of -128.27, a P/E/G ratio of 12.05 and a beta of 1.17. Nutanix has a 12 month low of $40.44 and a 12 month high of $75.80.

Nutanix (NASDAQ:NTNX) last issued its quarterly earnings data on Wednesday, August 28th. The technology company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.02. Nutanix had a negative net margin of 5.81% and a negative return on equity of 7.57%. The business had revenue of $547.95 million during the quarter, compared to analyst estimates of $537.12 million. Equities analysts forecast that Nutanix will post 0.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Rukmini Sivaraman sold 24,316 shares of Nutanix stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $58.85, for a total transaction of $1,430,996.60. Following the completion of the sale, the chief financial officer now directly owns 192,169 shares of the company’s stock, valued at approximately $11,309,145.65. The trade was a 11.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO David Sangster sold 11,950 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $59.83, for a total value of $714,968.50. Following the completion of the transaction, the chief operating officer now directly owns 123,868 shares in the company, valued at approximately $7,411,022.44. This represents a 8.80 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Cetera Investment Advisers grew its stake in Nutanix by 48.7% in the first quarter. Cetera Investment Advisers now owns 76,103 shares of the technology company’s stock worth $4,697,000 after purchasing an additional 24,918 shares during the period. Diversified Trust Co grew its position in shares of Nutanix by 46.7% in the 2nd quarter. Diversified Trust Co now owns 36,666 shares of the technology company’s stock worth $2,084,000 after buying an additional 11,668 shares during the period. Versor Investments LP grew its position in shares of Nutanix by 211.7% in the 3rd quarter. Versor Investments LP now owns 33,352 shares of the technology company’s stock worth $1,976,000 after buying an additional 22,652 shares during the period. Marshall Wace LLP increased its stake in shares of Nutanix by 47.5% in the 2nd quarter. Marshall Wace LLP now owns 1,482,989 shares of the technology company’s stock worth $84,308,000 after acquiring an additional 477,838 shares in the last quarter. Finally, Resolute Capital Asset Partners LLC purchased a new position in Nutanix during the 2nd quarter valued at about $2,274,000. Hedge funds and other institutional investors own 85.25% of the company’s stock.

About Nutanix

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.