Nutanix (NASDAQ:NTNX) Trading Down 5.6% – Time to Sell?

Nutanix (NASDAQ:NTNX)’s share price was down 5.6% during mid-day trading on Wednesday . The company traded as low as $45.37 and last traded at $45.5530. Approximately 520,757 shares were traded during trading, a decline of 88% from the average daily volume of 4,272,819 shares. The stock had previously closed at $48.27.

Analyst Ratings Changes

A number of equities research analysts have issued reports on NTNX shares. Wall Street Zen downgraded shares of Nutanix from a “buy” rating to a “hold” rating in a research note on Tuesday, March 10th. William Blair reiterated a “market perform” rating on shares of Nutanix in a research note on Monday, March 23rd. The Goldman Sachs Group reduced their price objective on shares of Nutanix from $75.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, February 9th. Rosenblatt Securities began coverage on Nutanix in a research note on Thursday, April 2nd. They set a “buy” rating and a $60.00 target price for the company. Finally, Piper Sandler dropped their target price on shares of Nutanix from $72.00 to $63.00 and set an “overweight” rating for the company in a report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Nutanix has an average rating of “Moderate Buy” and a consensus target price of $60.87.

Nutanix Stock Performance

The company has a market capitalization of $11.85 billion, a P/E ratio of 48.58, a price-to-earnings-growth ratio of 5.03 and a beta of 0.54. The firm’s fifty day moving average is $41.04 and its 200-day moving average is $46.24.

Nutanix (NASDAQ:NTNX) last posted its earnings results on Wednesday, February 25th. The technology company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.44 by $0.12. Nutanix had a net margin of 9.95% and a negative return on equity of 37.41%. The business had revenue of $722.83 million for the quarter, compared to the consensus estimate of $709.83 million. During the same period last year, the company earned $0.47 EPS. The firm’s revenue was up 10.4% compared to the same quarter last year. As a group, analysts expect that Nutanix will post 0.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Nutanix

Several hedge funds have recently added to or reduced their stakes in the business. Crestwood Advisors Group LLC boosted its position in Nutanix by 0.4% during the 3rd quarter. Crestwood Advisors Group LLC now owns 43,499 shares of the technology company’s stock worth $3,236,000 after buying an additional 161 shares during the period. Utah Retirement Systems boosted its position in Nutanix by 0.6% during the 4th quarter. Utah Retirement Systems now owns 42,355 shares of the technology company’s stock worth $2,189,000 after buying an additional 257 shares during the period. International Assets Investment Management LLC boosted its position in Nutanix by 5.8% during the 1st quarter. International Assets Investment Management LLC now owns 4,700 shares of the technology company’s stock worth $179,000 after buying an additional 259 shares during the period. Asset Management One Co. Ltd. boosted its position in Nutanix by 0.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 93,016 shares of the technology company’s stock worth $4,868,000 after buying an additional 260 shares during the period. Finally, Summit Securities Group LLC boosted its position in Nutanix by 26.4% during the 4th quarter. Summit Securities Group LLC now owns 1,356 shares of the technology company’s stock worth $70,000 after buying an additional 283 shares during the period. 85.25% of the stock is currently owned by institutional investors and hedge funds.

Nutanix Company Profile

Nutanix, Inc is an enterprise cloud computing company that develops software to simplify the deployment and management of datacenter infrastructure. Founded in 2009 and headquartered in San Jose, California, Nutanix is best known for pioneering hyperconverged infrastructure (HCI), an approach that integrates compute, storage and virtualization into a single software-defined platform aimed at reducing complexity and operational overhead in private and hybrid cloud environments.

The company’s product portfolio centers on the Nutanix Cloud Platform, which includes its core AOS software for HCI, Prism for infrastructure management and automation, and a suite of additional services such as Calm for application automation, Files and Volumes for file and block services, Karbon for Kubernetes orchestration, and Era for database management.