Nutanix (NASDAQ:NTNX) Shares Gap Down – What’s Next?

Shares of Nutanix, Inc. (NASDAQ:NTNX) gapped down before the market opened on Wednesday . The stock had previously closed at $77.08, but opened at $75.00. Nutanix shares last traded at $75.36, with a volume of 320,186 shares traded.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Wells Fargo & Company raised their target price on shares of Nutanix from $75.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, February 27th. Morgan Stanley lifted their price target on Nutanix from $78.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Piper Sandler upped their price objective on Nutanix from $83.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. StockNews.com cut Nutanix from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 21st. Finally, Barclays set a $94.00 price target on Nutanix and gave the company an “overweight” rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $87.79.

Nutanix Price Performance

The firm has a market cap of $20.24 billion, a price-to-earnings ratio of -215.24, a P/E/G ratio of 11.80 and a beta of 1.17. The firm’s 50 day moving average price is $67.49 and its two-hundred day moving average price is $64.74.

Insider Buying and Selling at Nutanix

In other news, Director Steven J. Gomo sold 7,000 shares of Nutanix stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $76.16, for a total value of $533,120.00. Following the sale, the director now owns 3,050 shares of the company’s stock, valued at $232,288. The trade was a 69.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Virginia Gambale sold 6,060 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $64.73, for a total value of $392,263.80. Following the transaction, the director now owns 45,330 shares in the company, valued at $2,934,210.90. The trade was a 11.79 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 184,917 shares of company stock worth $12,647,901. 6.80% of the stock is currently owned by insiders.

Institutional Trading of Nutanix

A number of institutional investors have recently modified their holdings of NTNX. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Nutanix by 310.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 20,928 shares of the technology company’s stock worth $1,240,000 after acquiring an additional 15,829 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Nutanix by 125.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 13,728 shares of the technology company’s stock worth $813,000 after buying an additional 7,628 shares during the last quarter. First Trust Direct Indexing L.P. boosted its position in shares of Nutanix by 10.0% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 4,246 shares of the technology company’s stock worth $252,000 after buying an additional 385 shares in the last quarter. QRG Capital Management Inc. grew its stake in Nutanix by 8.9% in the 3rd quarter. QRG Capital Management Inc. now owns 10,482 shares of the technology company’s stock valued at $621,000 after acquiring an additional 859 shares during the last quarter. Finally, Summit Global Investments acquired a new position in Nutanix during the third quarter worth about $727,000. 85.25% of the stock is currently owned by hedge funds and other 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.