Nutanix (NASDAQ:NTNX) Stock Price Down 2.9%

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

Wall Street Analyst Weigh In

NTNX has been the topic of several research reports. Royal Bank of Canada upped their price objective on shares of Nutanix from $68.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. KeyCorp upped their price objective on shares of Nutanix from $68.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Morgan Stanley upped their price objective on shares of Nutanix from $58.00 to $63.00 and gave the company an “equal weight” rating in a research note on Wednesday. Piper Sandler upped their price objective on shares of Nutanix from $67.00 to $76.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Finally, William Blair upgraded shares of Nutanix from a “market perform” rating to an “outperform” rating in a research note on Wednesday, January 17th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $63.92.

Nutanix Stock Performance

The company’s fifty day moving average is $59.73 and its 200-day moving average is $47.38.

Nutanix (NASDAQ:NTNX) last posted its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.17 earnings per share (EPS) for the quarter. The firm had revenue of $565.23 million for the quarter, compared to the consensus estimate of $551.82 million. On average, analysts anticipate that Nutanix, Inc. will post -0.07 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Steven J. Gomo sold 25,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $64.11, for a total transaction of $1,602,750.00. Following the completion of the sale, the director now directly owns 3,962 shares of the company’s stock, valued at approximately $254,003.82. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Nutanix news, Director Steven J. Gomo sold 25,000 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $64.11, for a total value of $1,602,750.00. Following the completion of the sale, the director now directly owns 3,962 shares of the company’s stock, valued at approximately $254,003.82. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO David Sangster sold 12,545 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $63.04, for a total transaction of $790,836.80. Following the completion of the sale, the chief operating officer now directly owns 70,192 shares of the company’s stock, valued at $4,424,903.68. The disclosure for this sale can be found here. In the last three months, insiders sold 76,477 shares of company stock valued at $4,836,249. Company insiders own 0.46% of the company’s stock.

Institutional Trading of Nutanix

A number of hedge funds have recently bought and sold shares of the stock. Syon Capital LLC bought a new stake in Nutanix in the 4th quarter valued at $1,622,000. FIL Ltd lifted its holdings in shares of Nutanix by 74.7% during the 4th quarter. FIL Ltd now owns 8,908,166 shares of the technology company’s stock worth $424,830,000 after acquiring an additional 3,809,981 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in shares of Nutanix by 6.0% during the 4th quarter. Public Employees Retirement System of Ohio now owns 144,143 shares of the technology company’s stock worth $6,874,000 after acquiring an additional 8,191 shares during the period. Systematic Portfolios LLC bought a new position in shares of Nutanix during the 4th quarter worth about $341,000. Finally, Legal & General Group Plc lifted its holdings in shares of Nutanix by 9.2% during the 4th quarter. Legal & General Group Plc now owns 477,466 shares of the technology company’s stock worth $22,770,000 after acquiring an additional 40,151 shares during the period. 85.25% of the stock is 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.