Nutanix (NASDAQ:NTNX) Stock Price Down 2.9%

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

Wall Street Analyst Weigh In

Several equities analysts have commented on NTNX shares. Needham & Company LLC upped their price objective on shares of Nutanix from $62.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, February 29th. JPMorgan Chase & Co. upped their price target on shares of Nutanix from $54.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, February 26th. KeyCorp raised their price target on shares of Nutanix from $68.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Susquehanna raised their price target on shares of Nutanix from $48.00 to $60.00 and gave the stock a “positive” rating in a research report on Friday, December 1st. Finally, William Blair raised shares of Nutanix from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 17th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Nutanix currently has an average rating of “Moderate Buy” and an average price target of $63.92.

Nutanix Stock Performance

The business’s 50 day simple moving average is $59.73 and its 200-day simple moving average is $47.38.

Nutanix (NASDAQ:NTNX) last announced 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 analyst estimates of $551.82 million. Equities analysts predict that Nutanix, Inc. will post -0.07 EPS for the current fiscal year.

Insider Activity

In other news, insider Tyler Wall sold 15,000 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 13,168 shares in the company, valued at approximately $819,708. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Tyler Wall sold 15,000 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 13,168 shares in the company, valued at approximately $819,708. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Steven J. Gomo sold 25,000 shares of the firm’s stock in a transaction that occurred 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 owns 3,962 shares in the company, valued at $254,003.82. The disclosure for this sale can be found here. In the last three months, insiders have sold 76,477 shares of company stock worth $4,836,249. Corporate insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Nutanix

Several hedge funds have recently added to or reduced their stakes in NTNX. Atlantic Edge Private Wealth Management LLC acquired a new stake in Nutanix during the 4th quarter worth approximately $29,000. GAMMA Investing LLC acquired a new stake in Nutanix during the 4th quarter worth approximately $30,000. BluePath Capital Management LLC acquired a new stake in Nutanix during the 3rd quarter worth approximately $31,000. Point72 Hong Kong Ltd acquired a new stake in Nutanix during the 1st quarter worth approximately $35,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in Nutanix during the 4th quarter worth approximately $40,000. 85.25% of the stock is currently owned by institutional investors and hedge funds.

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.