Nutanix (NASDAQ:NTNX) Trading Down 2.9%

Nutanix, Inc. (NASDAQ:NTNX)’s share price traded down 2.9% on Wednesday . The stock traded as low as $61.25 and last traded at $61.90. 887,786 shares were traded during mid-day trading, a decline of 69% from the average session volume of 2,877,078 shares. The stock had previously closed at $63.72.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Bank of America boosted their price objective on shares of Nutanix from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. KeyCorp boosted their price objective on shares of Nutanix from $68.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Morgan Stanley upped their price target on shares of Nutanix from $58.00 to $63.00 and gave the company an “equal weight” rating in a research report on Wednesday. StockNews.com cut shares of Nutanix from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 12th. Finally, Royal Bank of Canada upped their price target on shares of Nutanix from $68.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.92.

Nutanix Stock Performance

The company has a market cap of $15.01 billion, a price-to-earnings ratio of -177.00 and a beta of 1.29. The stock’s fifty day moving average is $59.28 and its two-hundred day moving average is $47.08.

Nutanix (NASDAQ:NTNX) last issued its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.17 EPS for the quarter. The company had revenue of $565.23 million during the quarter, compared to analysts’ expectations of $551.82 million. On average, equities research analysts expect that Nutanix, Inc. will post -0.07 EPS for the current year.

Insiders Place Their Bets

In other news, insider Tyler Wall sold 15,000 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $62.25, for a total value of $933,750.00. Following the completion of the sale, the insider now owns 13,168 shares in the company, valued at approximately $819,708. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Rajiv Ramaswami sold 23,932 shares of Nutanix stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $63.05, for a total value of $1,508,912.60. Following the sale, the chief executive officer now owns 373,024 shares of the company’s stock, valued at approximately $23,519,163.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tyler Wall sold 15,000 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $62.25, for a total value of $933,750.00. Following the transaction, the insider now directly owns 13,168 shares of the company’s stock, valued at $819,708. The disclosure for this sale can be found here. Insiders have sold 76,477 shares of company stock valued at $4,836,249 in the last three months. 0.46% of the stock is currently owned by insiders.

Institutional Trading of Nutanix

Several hedge funds have recently made changes to their positions in the company. FMR LLC raised its stake in shares of Nutanix by 1.6% in the third quarter. FMR LLC now owns 35,942,093 shares of the technology company’s stock valued at $1,253,660,000 after buying an additional 578,189 shares during the period. Vanguard Group Inc. raised its stake in shares of Nutanix by 5.0% in the first quarter. Vanguard Group Inc. now owns 23,344,292 shares of the technology company’s stock valued at $626,094,000 after buying an additional 1,116,856 shares during the period. Generation Investment Management LLP raised its stake in shares of Nutanix by 1.8% in the fourth quarter. Generation Investment Management LLP now owns 17,257,588 shares of the technology company’s stock valued at $823,014,000 after buying an additional 300,942 shares during the period. BlackRock Inc. raised its stake in shares of Nutanix by 1.2% in the first quarter. BlackRock Inc. now owns 9,703,410 shares of the technology company’s stock valued at $260,245,000 after buying an additional 117,982 shares during the period. Finally, FIL Ltd raised its stake in shares of Nutanix by 74.7% in the fourth quarter. FIL Ltd now owns 8,908,166 shares of the technology company’s stock valued at $424,830,000 after buying an additional 3,809,981 shares during the period. 85.25% of the stock is currently owned by institutional investors.

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.