Nutanix (NASDAQ:NTNX) Shares Gap Up – Here’s What Happened

Nutanix, Inc. (NASDAQ:NTNX) gapped up before the market opened on Monday . The stock had previously closed at $61.59, but opened at $64.25. Nutanix shares last traded at $63.84, with a volume of 260,601 shares trading hands.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Piper Sandler lifted their price objective on Nutanix from $76.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Needham & Company LLC reissued a “buy” rating and set a $80.00 price target on shares of Nutanix in a research report on Thursday, August 29th. Raymond James lifted their price target on shares of Nutanix from $76.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Bank of America lifted their price objective on Nutanix from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, Northland Securities increased their price objective on shares of Nutanix from $71.00 to $74.00 and gave the company a “market perform” rating in a research note on Friday, August 30th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $73.38.

Nutanix Stock Up 4.0 %

The company has a market capitalization of $15.80 billion, a PE ratio of -879.86, a price-to-earnings-growth ratio of 12.44 and a beta of 1.18. The business’s 50 day simple moving average is $59.91 and its 200 day simple moving average is $58.43.

Nutanix (NASDAQ:NTNX) last released its earnings results on Wednesday, August 28th. The technology company reported ($0.06) earnings per share (EPS) 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 company had revenue of $547.95 million during the quarter, compared to analyst estimates of $537.12 million. On average, analysts anticipate that Nutanix, Inc. will post 0.27 earnings per share for the current fiscal year.

Insider Buying and Selling at Nutanix

In other news, COO David Sangster sold 11,950 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $59.83, for a total value of $714,968.50. Following the transaction, the chief operating officer now directly owns 123,868 shares of the company’s stock, valued at approximately $7,411,022.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Rukmini Sivaraman sold 24,316 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $11,309,145.65. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO David Sangster sold 11,950 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $59.83, for a total value of $714,968.50. Following the transaction, the chief operating officer now owns 123,868 shares in the company, valued at approximately $7,411,022.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.46% of the company’s stock.

Institutional Trading of Nutanix

Several large investors have recently modified their holdings of NTNX. Vanguard Group Inc. raised its holdings in Nutanix by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 25,087,143 shares of the technology company’s stock worth $1,548,378,000 after acquiring an additional 346,414 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Nutanix by 29.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,358,768 shares of the technology company’s stock valued at $269,024,000 after purchasing an additional 985,421 shares during the last quarter. Jericho Capital Asset Management L.P. increased its stake in shares of Nutanix by 13.1% in the first quarter. Jericho Capital Asset Management L.P. now owns 3,988,923 shares of the technology company’s stock worth $246,196,000 after purchasing an additional 462,000 shares during the period. Renaissance Technologies LLC boosted its stake in Nutanix by 7.4% during the 2nd quarter. Renaissance Technologies LLC now owns 3,738,756 shares of the technology company’s stock valued at $212,548,000 after purchasing an additional 256,156 shares during the period. Finally, Nordea Investment Management AB increased its position in Nutanix by 387.1% in the 1st quarter. Nordea Investment Management AB now owns 2,612,812 shares of the technology company’s stock worth $162,229,000 after buying an additional 2,076,377 shares during the period. 85.25% of the stock is owned by institutional investors.

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.