Nutanix (NASDAQ:NTNX) Trading Down 2.6%

Nutanix, Inc. (NASDAQ:NTNX) dropped 2.6% during mid-day trading on Friday . The company traded as low as $54.52 and last traded at $55.20. Approximately 455,321 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 2,694,367 shares. The stock had previously closed at $56.70.

Wall Street Analysts Forecast Growth

NTNX has been the subject of a number of research analyst reports. Northland Securities cut Nutanix from an “outperform” rating to a “market perform” rating and set a $71.00 target price for the company. in a research report on Thursday, May 30th. JPMorgan Chase & Co. upped their target price on Nutanix from $70.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. Barclays decreased their price objective on Nutanix from $81.00 to $80.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Royal Bank of Canada increased their price objective on Nutanix from $72.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 29th. Finally, Morgan Stanley decreased their price objective on Nutanix from $72.00 to $62.00 and set an “equal weight” rating for the company in a research report on Friday, June 21st. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.00.

Nutanix Trading Down 2.9 %

The firm has a 50-day simple moving average of $60.65 and a two-hundred day simple moving average of $59.01.

Nutanix (NASDAQ:NTNX) last released its quarterly earnings results on Wednesday, May 29th. The technology company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.12. The company had revenue of $524.58 million during 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%. As a group, sell-side analysts forecast that Nutanix, Inc. will post 0.11 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO David Sangster sold 10,384 shares of the firm’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $54.19, for a total transaction of $562,708.96. Following the sale, the chief operating officer now owns 64,333 shares in the company, valued at $3,486,205.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO David Sangster sold 10,384 shares of the firm’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $54.19, for a total transaction of $562,708.96. Following the sale, the chief operating officer now owns 64,333 shares in the company, valued at $3,486,205.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Rajiv Ramaswami sold 23,986 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now owns 407,045 shares in the company, valued at approximately $22,057,768.55. 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. Corporate insiders own 0.46% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NTNX. FIL Ltd boosted its holdings in Nutanix by 74.7% in the fourth quarter. FIL Ltd now owns 8,908,166 shares of the technology company’s stock valued at $424,830,000 after acquiring an additional 3,809,981 shares during the last quarter. Norges Bank acquired a new position in shares of Nutanix during the fourth quarter worth about $137,465,000. Nordea Investment Management AB lifted its stake in shares of Nutanix by 387.1% during the first quarter. Nordea Investment Management AB now owns 2,612,812 shares of the technology company’s stock worth $162,229,000 after purchasing an additional 2,076,377 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Nutanix by 29.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,358,768 shares of the technology company’s stock worth $269,024,000 after purchasing an additional 985,421 shares in the last quarter. Finally, Federated Hermes Inc. lifted its stake in shares of Nutanix by 61.4% during the fourth quarter. Federated Hermes Inc. now owns 1,295,112 shares of the technology company’s stock worth $61,764,000 after purchasing an additional 492,463 shares in the last quarter. Institutional investors and hedge funds own 85.25% of the company’s stock.

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.