Nutanix (NASDAQ:NTNX) Shares Break Below 50 Day Moving Average – Time to Sell?

Nutanix (NASDAQ:NTNX)’s stock price passed below its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $69.51 and traded as low as $66.05. Nutanix shares last traded at $67.21, with a volume of 2,116,008 shares traded.

Analysts Set New Price Targets

Several research firms have recently commented on NTNX. Rosenblatt Securities upped their price target on shares of Nutanix from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, August 25th. Barclays upped their price objective on Nutanix from $53.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, August 28th. KeyCorp raised their target price on shares of Nutanix from $65.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday, August 24th. Royal Bank Of Canada lifted their price objective on Nutanix from $84.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, August 27th. Finally, Wall Street Zen upgraded Nutanix from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Ten analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, Nutanix presently has an average rating of “Moderate Buy” and a consensus target price of $74.87.

Nutanix Stock Performance

The business’s fifty day moving average price is $69.51 and its two-hundred day moving average price is $52.53. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.80 and a current ratio of 1.80. The stock has a market capitalization of $18.19 billion, a P/E ratio of 13.03, a P/E/G ratio of 3.51 and a beta of 0.64.

Nutanix (NASDAQ:NTNX) last announced its earnings results on Wednesday, August 26th. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.11. Nutanix had a net margin of 52.81% and a negative return on equity of 90.13%. The firm had revenue of $757.08 million for the quarter, compared to analysts’ expectations of $738.27 million. During the same period in the prior year, the company earned $0.37 EPS. The business’s revenue was up 15.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Nutanix will post 1.17 earnings per share for the current year.

Insiders Place Their Bets

In other Nutanix news, CEO Rajiv Ramaswami sold 75,045 shares of the company’s stock in a transaction that occurred on Wednesday, October 7th. The stock was sold at an average price of $74.00, for a total transaction of $5,553,330.00. Following the sale, the chief executive officer directly owned 414,339 shares in the company, valued at $30,661,086. This represents a 15.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Teresa Sheppard sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, October 9th. The shares were sold at an average price of $73.67, for a total value of $257,845.00. Following the sale, the director owned 23,488 shares in the company, valued at approximately $1,730,360.96. This trade represents a 12.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 674,351 shares of company stock valued at $49,736,524 over the last ninety days. 2.30% of the stock is owned by insiders.

Institutional Trading of Nutanix

Several hedge funds and other institutional investors have recently bought and sold shares of NTNX. Assenagon Asset Management S.A. boosted its stake in Nutanix by 1,535.2% during the second quarter. Assenagon Asset Management S.A. now owns 3,262,231 shares of the technology company’s stock worth $166,243,000 after buying an additional 3,062,730 shares during the period. Dimensional Fund Advisors LP increased its position in Nutanix by 26.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,589,508 shares of the technology company’s stock valued at $60,416,000 after acquiring an additional 331,700 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Nutanix by 628.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,185,120 shares of the technology company’s stock valued at $45,046,000 after acquiring an additional 1,022,516 shares during the period. Pacer Advisors Inc. raised its stake in shares of Nutanix by 308.1% in the first quarter. Pacer Advisors Inc. now owns 1,135,857 shares of the technology company’s stock valued at $43,174,000 after acquiring an additional 857,559 shares during the period. Finally, Ardmore Road Asset Management LP raised its stake in shares of Nutanix by 16.7% in the first quarter. Ardmore Road Asset Management LP now owns 790,400 shares of the technology company’s stock valued at $30,043,000 after acquiring an additional 113,116 shares during the period. Hedge funds and other institutional investors own 85.25% of the company’s stock.

About Nutanix

Nutanix, Inc is a cloud computing and enterprise software company that provides infrastructure and platform services for running applications across private, hybrid and multicloud environments. Its products are designed to simplify the management of data centers and cloud resources by combining computing, storage, virtualization, networking and data services within a unified software platform.

The company’s offerings include the Nutanix Cloud Platform, which supports enterprise applications and workloads across on-premises infrastructure and public clouds.