Nutanix (NTNX) Stock Price Down 5.2% After Insider Selling
Nutanix Inc (NASDAQ:NTNX) fell 5.2% during mid-day trading on Tuesday after an insider sold shares in the company. The company traded as low as $42.29 and last traded at $42.63. 2,341,068 shares changed hands during mid-day trading, a decline of 33% from the average session volume of 3,503,283 shares. The stock had previously closed at $44.96.
Specifically, Director John Mcadam sold 15,000 shares of the company’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $44.63, for a total value of $669,450.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David Sangster sold 7,916 shares of the company’s stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $42.56, for a total transaction of $336,904.96. The disclosure for this sale can be found here. Insiders sold a total of 62,121 shares of company stock valued at $2,893,177 over the last ninety days. 14.57% of the stock is currently owned by insiders.
A number of brokerages have issued reports on NTNX. Needham & Company LLC upped their price objective on shares of Nutanix from $71.00 to $76.00 and gave the stock a “buy” rating in a research report on Wednesday, November 28th. They noted that the move was a valuation call. William Blair reaffirmed an “outperform” rating on shares of Nutanix in a research report on Wednesday, November 28th. Maxim Group reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Nutanix in a research report on Wednesday, November 28th. Stifel Nicolaus reduced their price objective on shares of Nutanix from $64.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, November 28th. Finally, Jefferies Financial Group reduced their price objective on shares of Nutanix to $48.00 and set a “hold” rating for the company in a research report on Wednesday, November 28th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and seventeen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $58.65.
Nutanix (NASDAQ:NTNX) last released its earnings results on Tuesday, November 27th. The technology company reported ($0.51) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.27) by ($0.24). The company had revenue of $313.28 million during the quarter, compared to analysts’ expectations of $305.21 million. Nutanix had a negative net margin of 27.65% and a negative return on equity of 94.01%. The firm’s revenue was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.16) earnings per share. As a group, analysts expect that Nutanix Inc will post -2.19 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in NTNX. Frontier Capital Management Co. LLC boosted its stake in Nutanix by 2,191.0% in the third quarter. Frontier Capital Management Co. LLC now owns 1,095,297 shares of the technology company’s stock valued at $46,791,000 after acquiring an additional 1,047,488 shares during the last quarter. FMR LLC boosted its stake in Nutanix by 5.4% in the second quarter. FMR LLC now owns 17,727,613 shares of the technology company’s stock valued at $914,213,000 after acquiring an additional 900,523 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Nutanix by 189.0% during the 2nd quarter. Millennium Management LLC now owns 1,005,004 shares of the technology company’s stock valued at $51,828,000 after buying an additional 657,294 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of Nutanix by 36.0% during the 3rd quarter. Alliancebernstein L.P. now owns 2,222,723 shares of the technology company’s stock valued at $94,955,000 after buying an additional 588,743 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of Nutanix by 213.3% during the 3rd quarter. First Trust Advisors LP now owns 809,399 shares of the technology company’s stock valued at $34,578,000 after buying an additional 551,052 shares in the last quarter. Hedge funds and other institutional investors own 50.06% of the company’s stock.
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About Nutanix (NASDAQ:NTNX)
Nutanix, Inc, together with its subsidiaries, develops and provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. Its solution addresses a range of workloads, including enterprise applications, databases, virtual desktop infrastructure, unified communications, and big data analytics.
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