Investors Purchase Large Volume of Call Options on Nutanix (NASDAQ:NTNX)

Nutanix, Inc. (NASDAQ:NTNX) was the target of some unusual options trading on Wednesday. Stock investors bought 13,779 call options on the company. This is an increase of 388% compared to the typical volume of 2,821 call options.

Insider Activity at Nutanix

In related news, CFO Rukmini Sivaraman sold 24,316 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $58.85, for a total value of $1,430,996.60. Following the completion of the sale, the chief financial officer now directly owns 192,169 shares of the company’s stock, valued at $11,309,145.65. The trade was a 11.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO David Sangster sold 11,950 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $59.83, for a total value of $714,968.50. Following the completion of the sale, the chief operating officer now directly owns 123,868 shares of the company’s stock, valued at $7,411,022.44. The trade was a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nutanix

A number of large investors have recently modified their holdings of the company. Freedom Investment Management Inc. lifted its stake in Nutanix by 4.0% in the 3rd quarter. Freedom Investment Management Inc. now owns 3,883 shares of the technology company’s stock worth $230,000 after purchasing an additional 151 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Nutanix by 3.4% in the third quarter. CIBC Asset Management Inc now owns 7,036 shares of the technology company’s stock worth $417,000 after buying an additional 233 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Nutanix by 35.2% in the second quarter. GAMMA Investing LLC now owns 933 shares of the technology company’s stock worth $53,000 after buying an additional 243 shares in the last quarter. Paragon Capital Management Inc. boosted its stake in Nutanix by 1.0% during the third quarter. Paragon Capital Management Inc. now owns 26,082 shares of the technology company’s stock valued at $1,545,000 after buying an additional 258 shares during the period. Finally, Larson Financial Group LLC grew its position in Nutanix by 122.7% during the third quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock worth $30,000 after buying an additional 281 shares in the last quarter. 85.25% of the stock is currently owned by institutional investors.

Nutanix Stock Performance

Shares of NASDAQ NTNX opened at $66.70 on Thursday. Nutanix has a fifty-two week low of $40.44 and a fifty-two week high of $75.80. The stock has a market cap of $17.69 billion, a PE ratio of -128.27, a price-to-earnings-growth ratio of 12.05 and a beta of 1.17. The stock has a fifty day moving average of $64.64 and a 200-day moving average of $59.40.

Nutanix (NASDAQ:NTNX) last posted its earnings results on Wednesday, August 28th. The technology company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. Nutanix had a negative return on equity of 7.57% and a negative net margin of 5.81%. The business had revenue of $547.95 million during the quarter, compared to analyst estimates of $537.12 million. On average, sell-side analysts predict that Nutanix will post 0.31 EPS for the current year.

Analyst Ratings Changes

NTNX has been the subject of a number of analyst reports. Northland Securities reiterated a “market perform” rating and set a $77.00 price target (up previously from $74.00) on shares of Nutanix in a research note on Wednesday. Bank of America lifted their price target on Nutanix from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Raymond James boosted their target price on Nutanix from $76.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Piper Sandler boosted their target price on Nutanix from $77.00 to $83.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Needham & Company LLC boosted their target price on Nutanix from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $78.86.

About Nutanix

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.