Nutanix Sees Unusually High Options Volume (NASDAQ:NTNX)

Nutanix, Inc. (NASDAQ:NTNX) saw unusually large options trading activity on Wednesday. Stock investors bought 13,779 call options on the stock. This represents an increase of approximately 388% compared to the average daily volume of 2,821 call options.

Nutanix Stock Down 7.8 %

Shares of NTNX stock traded down $5.65 during trading on Wednesday, reaching $66.70. The company’s stock had a trading volume of 7,395,775 shares, compared to its average volume of 2,582,859. Nutanix has a one year low of $40.44 and a one year high of $75.80. The business has a fifty day moving average price of $64.45 and a 200-day moving average price of $59.35. The company has a market cap of $17.69 billion, a price-to-earnings ratio of -130.25, a price-to-earnings-growth ratio of 12.05 and a beta of 1.17.

Nutanix (NASDAQ:NTNX) last posted its quarterly earnings data on Wednesday, August 28th. The technology company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The company had revenue of $547.95 million during the quarter, compared to the consensus estimate of $537.12 million. Nutanix had a negative net margin of 5.81% and a negative return on equity of 7.57%. Research analysts anticipate that Nutanix will post 0.31 EPS for the current year.

Insider Transactions at Nutanix

In related news, COO David Sangster sold 11,950 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $59.83, for a total value of $714,968.50. Following the completion of the sale, the chief operating officer now owns 123,868 shares in the company, valued at approximately $7,411,022.44. This represents a 8.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Rukmini Sivaraman sold 24,316 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now owns 192,169 shares in the company, valued at approximately $11,309,145.65. This trade represents a 11.23 % decrease in their position. The disclosure for this sale can be found here. 6.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Nutanix during the 2nd quarter worth approximately $25,000. ORG Wealth Partners LLC acquired a new position in Nutanix during the third quarter worth $27,000. Larson Financial Group LLC raised its position in Nutanix by 122.7% during the third quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock worth $30,000 after acquiring an additional 281 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in Nutanix by 150.7% in the third quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock valued at $32,000 after acquiring an additional 321 shares during the last quarter. Finally, Itau Unibanco Holding S.A. bought a new position in shares of Nutanix in the 2nd quarter valued at about $32,000. 85.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Royal Bank of Canada increased their target price on shares of Nutanix from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Morgan Stanley raised their price objective on Nutanix from $72.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their target price on Nutanix from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Wells Fargo & Company increased their price target on Nutanix from $60.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Oppenheimer initiated coverage on Nutanix in a report on Wednesday, November 13th. They set an “outperform” rating and a $80.00 price objective on the stock. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $78.86.

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.