Nutanix (NASDAQ:NTNX) Stock Price Down 2.6%

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

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Susquehanna increased their price target on Nutanix from $60.00 to $75.00 and gave the company a “positive” rating in a report on Wednesday, April 10th. Morgan Stanley reduced their target price on Nutanix from $72.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Friday, June 21st. Needham & Company LLC increased their target price on Nutanix from $72.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Royal Bank of Canada increased their target price on Nutanix from $72.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 29th. Finally, Raymond James increased their target price on Nutanix from $72.00 to $76.00 and gave the stock an “outperform” rating in a research note on Thursday, May 30th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Nutanix presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.00.

Nutanix Price Performance

The business has a 50-day moving average of $60.49 and a two-hundred day moving average of $59.14. The company has a market cap of $13.39 billion, a P/E ratio of -775.43, a P/E/G ratio of 12.74 and a beta of 1.16.

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

Insiders Place Their Bets

In other Nutanix news, COO David Sangster sold 10,384 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $54.19, for a total value of $562,708.96. Following the completion of the sale, the chief operating officer now owns 64,333 shares of the company’s stock, valued at $3,486,205.27. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Rajiv Ramaswami sold 23,986 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $54.19, for a total value of $1,299,801.34. Following the completion of the transaction, the chief executive officer now directly owns 407,045 shares in the company, valued at $22,057,768.55. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO David Sangster sold 10,384 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $54.19, for a total value of $562,708.96. Following the completion of the transaction, the chief operating officer now owns 64,333 shares of the company’s stock, valued at $3,486,205.27. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,936 shares of company stock valued at $2,531,273. 0.46% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NTNX. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Nutanix in the second quarter worth about $25,000. Atlantic Edge Private Wealth Management LLC purchased a new position in Nutanix during the fourth quarter valued at approximately $29,000. GAMMA Investing LLC purchased a new position in Nutanix during the fourth quarter valued at approximately $30,000. Kapitalo Investimentos Ltda purchased a new position in Nutanix during the fourth quarter valued at approximately $37,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in Nutanix during the fourth quarter valued at approximately $40,000. 85.25% of the stock is currently owned by hedge funds and other institutional investors.

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.