Nutanix (NASDAQ:NTNX) CEO Sells 324,955 Shares of Stock

Nutanix (NASDAQ:NTNX) CEO Rajiv Ramaswami sold 324,955 shares of Nutanix stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $73.57, for a total transaction of $23,906,939.35. Following the transaction, the chief executive officer directly owned 489,384 shares in the company, valued at $36,003,980.88. This trade represents a 39.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Rajiv Ramaswami also recently made the following trade(s):

• On Wednesday, October 7th, Rajiv Ramaswami sold 75,045 shares of Nutanix stock. The stock was sold at an average price of $74.00, for a total value of $5,553,330.00.

Nutanix Trading Down 0.4%

Nutanix stock traded down $0.31 during trading hours on Thursday, reaching $73.11. The stock had a trading volume of 1,717,619 shares, compared to its average volume of 3,810,279. Nutanix has a 52 week low of $34.01 and a 52 week high of $74.42. The stock has a market cap of $19.78 billion, a PE ratio of 14.17, a PEG ratio of 3.64 and a beta of 0.64. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.80 and a quick ratio of 1.80. The company has a fifty day simple moving average of $67.12 and a 200-day simple moving average of $53.97.

Nutanix (NASDAQ:NTNX) last announced its earnings results on Wednesday, August 26th. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.11. Nutanix had a net margin of 52.81% and a negative return on equity of 90.13%. The firm had revenue of $757.08 million for the quarter, compared to analyst estimates of $738.27 million. During the same quarter in the previous year, the firm posted $0.37 EPS. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. Analysts forecast that Nutanix will post 1.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Nutanix

Hedge funds have recently bought and sold shares of the business. CX Institutional increased its stake in Nutanix by 134.6% in the 2nd quarter. CX Institutional now owns 488 shares of the technology company’s stock worth $25,000 after buying an additional 280 shares during the period. Western Wealth Management LLC bought a new position in Nutanix in the first quarter worth approximately $27,000. Parkside Financial Bank & Trust increased its holdings in Nutanix by 43.8% during the 2nd quarter. Parkside Financial Bank & Trust now owns 578 shares of the technology company’s stock worth $29,000 after purchasing an additional 176 shares during the period. Frazier Financial Advisors LLC raised its position in Nutanix by 1,063.8% during the 1st quarter. Frazier Financial Advisors LLC now owns 1,094 shares of the technology company’s stock valued at $42,000 after purchasing an additional 1,000 shares in the last quarter. Finally, CoreCap Advisors LLC raised its position in Nutanix by 28.6% during the 2nd quarter. CoreCap Advisors LLC now owns 900 shares of the technology company’s stock valued at $46,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 85.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on NTNX shares. Morgan Stanley boosted their target price on shares of Nutanix from $55.00 to $63.00 and gave the company an “equal weight” rating in a research note on Thursday, August 27th. Needham & Company LLC assumed coverage on Nutanix in a report on Monday, September 28th. They set a “buy” rating and a $90.00 price target for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nutanix in a research report on Monday, September 21st. Oppenheimer raised their target price on shares of Nutanix from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, August 27th. Finally, Barclays upped their price target on shares of Nutanix from $53.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, August 28th. Nine equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.07.

About Nutanix

Nutanix, Inc develops enterprise cloud software that helps organizations manage applications and data across on-premises infrastructure, public clouds and hybrid multicloud environments. Its platform is designed to simplify the operation of data centers and cloud resources through a unified software experience.

The company’s offerings include hyperconverged infrastructure software, the Nutanix Cloud Infrastructure platform and AHV virtualization. Nutanix also provides services for file and object storage, databases, disaster recovery, Kubernetes and application management, as well as tools that help customers monitor, secure and govern their hybrid and multicloud environments.

Founded in 2009 and headquartered in San Jose, California, Nutanix serves businesses, government organizations and other institutions globally through direct sales and channel partners.