Nutanix (NTNX) Stock Price Down 5.6%

Nutanix Inc (NASDAQ:NTNX) shares traded down 5.6% during trading on Friday . The stock traded as low as $49.08 and last traded at $49.92. 8,000,009 shares changed hands during mid-day trading, an increase of 72% from the average session volume of 4,637,919 shares. The stock had previously closed at $52.87.

Several research analysts have recently commented on the company. Goldman Sachs downgraded Nutanix from a “conviction-buy” rating to a “buy” rating in a report on Friday. Oppenheimer upgraded Nutanix to a “top pick” rating and lifted their price objective for the stock from $43.00 to $65.00 in a report on Wednesday, March 14th. JMP Securities lifted their price objective on Nutanix from $45.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, March 14th. Morgan Stanley reiterated an “equal weight” rating and issued a $52.00 price objective (up previously from $42.00) on shares of Nutanix in a report on Tuesday, March 13th. Finally, KeyCorp reiterated a “buy” rating and issued a $61.00 price objective on shares of Nutanix in a report on Tuesday, March 13th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $46.52.

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The stock has a market capitalization of $8,571.45, a price-to-earnings ratio of -23.22 and a beta of 2.13. The company has a debt-to-equity ratio of 1.38, a quick ratio of 3.10 and a current ratio of 3.10.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings results on Thursday, March 1st. The technology company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.06. Nutanix had a negative return on equity of 196.67% and a negative net margin of 33.34%. The company had revenue of $286.70 million for the quarter, compared to the consensus estimate of $283.22 million. During the same quarter in the previous year, the business earned ($0.28) EPS. Nutanix’s revenue was up 44.1% compared to the same quarter last year. research analysts expect that Nutanix Inc will post -1.59 earnings per share for the current year.

In other Nutanix news, CAO Kenneth W. Long III sold 32,002 shares of the company’s stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of $54.36, for a total transaction of $1,739,628.72. Following the transaction, the chief accounting officer now owns 185,256 shares in the company, valued at approximately $10,070,516.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey T. Parks sold 1,858,951 shares of the company’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $37.94, for a total value of $70,528,600.94. The disclosure for this sale can be found here. Insiders have sold a total of 2,645,160 shares of company stock worth $101,996,929 in the last quarter. Company insiders own 19.81% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System grew its holdings in shares of Nutanix by 47.3% during the 3rd quarter. California State Teachers Retirement System now owns 90,900 shares of the technology company’s stock worth $2,035,000 after acquiring an additional 29,200 shares during the period. Janney Montgomery Scott LLC bought a new stake in shares of Nutanix in the 3rd quarter worth approximately $441,000. Great West Life Assurance Co. Can boosted its position in shares of Nutanix by 1,837.8% in the 3rd quarter. Great West Life Assurance Co. Can now owns 71,700 shares of the technology company’s stock worth $1,602,000 after purchasing an additional 68,000 shares in the last quarter. Cowen Prime Services LLC boosted its position in shares of Nutanix by 33.7% in the 4th quarter. Cowen Prime Services LLC now owns 20,450 shares of the technology company’s stock worth $721,000 after purchasing an additional 5,150 shares in the last quarter. Finally, Nationwide Fund Advisors lifted its position in Nutanix by 52.2% in the 3rd quarter. Nationwide Fund Advisors now owns 30,254 shares of the technology company’s stock valued at $677,000 after acquiring an additional 10,382 shares in the last quarter. Hedge funds and other institutional investors own 44.26% of the company’s stock.

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Nutanix Company Profile

Nutanix, Inc is a United States-based company, which provides an enterprise cloud platform that converges silos of server, virtualization and storage into an integrated solution. The Company’s enterprise cloud platform connects to public cloud services. It has operations in the United States; Europe, the Middle East and Africa; Asia-Pacific, and Other Americas.

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