Nutanix (NASDAQ:NTNX) Trading Down 2.6%

Nutanix, Inc. (NASDAQ:NTNX)’s stock price traded down 2.6% during mid-day trading on Friday . The stock traded as low as $54.52 and last traded at $55.20. 455,321 shares traded hands during trading, a decline of 83% from the average session volume of 2,694,367 shares. The stock had previously closed at $56.70.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Raymond James boosted their target price on shares of Nutanix from $72.00 to $76.00 and gave the company an “outperform” rating in a research note on Thursday, May 30th. KeyCorp boosted their price target on shares of Nutanix from $69.00 to $79.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Barclays lowered their price target on shares of Nutanix from $81.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. JPMorgan Chase & Co. boosted their price target on shares of Nutanix from $70.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, May 24th. Finally, Northland Securities cut shares of Nutanix from an “outperform” rating to a “market perform” rating and set a $71.00 price target on the stock. in a report on Thursday, May 30th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Nutanix presently has an average rating of “Moderate Buy” and a consensus price target of $72.00.

Nutanix Price Performance

The company’s 50-day moving average is $60.65 and its 200-day moving average is $59.01.

Nutanix (NASDAQ:NTNX) last posted its quarterly earnings data on Wednesday, May 29th. The technology company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.12. The company had revenue of $524.58 million during the quarter, compared to analyst estimates of $516.13 million. Nutanix had a negative net margin of 0.57% and a negative return on equity of 7.74%. Analysts expect that Nutanix, Inc. will post 0.11 EPS for the current fiscal year.

Insider Activity

In other news, CFO Rukmini Sivaraman sold 12,566 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $53.22, for a total transaction of $668,762.52. Following the sale, the chief financial officer now directly owns 144,902 shares of the company’s stock, valued at $7,711,684.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Rukmini Sivaraman sold 12,566 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $53.22, for a total transaction of $668,762.52. Following the sale, the chief financial officer now directly owns 144,902 shares of the company’s stock, valued at $7,711,684.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Rajiv Ramaswami sold 23,986 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $54.19, for a total transaction of $1,299,801.34. Following the sale, the chief executive officer now directly owns 407,045 shares in the company, valued at $22,057,768.55. The disclosure for this sale can be found here. Insiders have sold 46,936 shares of company stock valued at $2,531,273 over the last three months. 0.46% of the stock is owned by insiders.

Institutional Trading of Nutanix

A number of institutional investors have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA boosted its position in shares of Nutanix by 0.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 103,926 shares of the technology company’s stock worth $4,956,000 after purchasing an additional 943 shares during the last quarter. Nordea Investment Management AB boosted its holdings in Nutanix by 387.1% during the first quarter. Nordea Investment Management AB now owns 2,612,812 shares of the technology company’s stock worth $162,229,000 after buying an additional 2,076,377 shares during the last quarter. Tabor Asset Management LP bought a new position in Nutanix during the fourth quarter worth about $4,046,000. Raymond James & Associates boosted its holdings in Nutanix by 306.0% during the fourth quarter. Raymond James & Associates now owns 73,765 shares of the technology company’s stock worth $3,518,000 after buying an additional 55,596 shares during the last quarter. Finally, M&T Bank Corp boosted its holdings in Nutanix by 3.6% during the fourth quarter. M&T Bank Corp now owns 9,270 shares of the technology company’s stock worth $442,000 after buying an additional 325 shares during the last quarter. Institutional investors and hedge funds 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.