Nutanix Inc. (NTNX) Sees Large Volume Increase

Nutanix Inc. (NASDAQ:NTNX) saw unusually-strong trading volume on Tuesday . Approximately 15,569,927 shares traded hands during trading, an increase of 278% from the previous session’s volume of 4,114,600 shares.The stock last traded at $25.61 and had previously closed at $23.31.

Several research analysts recently weighed in on NTNX shares. William Blair reiterated a “buy” rating on shares of Nutanix in a research report on Thursday, August 31st. JMP Securities reiterated an “outperform” rating and set a $35.00 price target on shares of Nutanix in a research report on Sunday, September 3rd. Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $34.00 price target on shares of Nutanix in a research report on Thursday, September 7th. Bank of America Corporation lifted their price target on Nutanix from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, September 18th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $28.00 price target on shares of Nutanix in a research report on Thursday, September 14th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $30.28.

The company has a 50 day moving average of $23.01 and a 200 day moving average of $23.01. The stock’s market capitalization is $4.13 billion.

Nutanix (NASDAQ:NTNX) last released its quarterly earnings data on Thursday, August 31st. The technology company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.05. Nutanix had a negative return on equity of 295.56% and a negative net margin of 59.72%. The firm had revenue of $226.10 million during the quarter, compared to the consensus estimate of $216.00 million. The firm’s revenue was up 61.7% compared to the same quarter last year. On average, equities analysts predict that Nutanix Inc. will post ($0.94) EPS for the current fiscal year.

In related news, VP Kenneth W. Long III sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $24.00, for a total value of $720,000.00. Following the completion of the transaction, the vice president now directly owns 240,234 shares of the company’s stock, valued at approximately $5,765,616. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey T. Parks sold 1,234,822 shares of the firm’s stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $21.97, for a total value of $27,129,039.34. The disclosure for this sale can be found here. Insiders sold a total of 1,741,713 shares of company stock valued at $38,572,879 over the last ninety days.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc increased its stake in Nutanix by 3,147.6% in the 2nd quarter. Legal & General Group Plc now owns 8,801 shares of the technology company’s stock valued at $175,000 after purchasing an additional 8,530 shares in the last quarter. SG Americas Securities LLC purchased a new position in Nutanix in the 2nd quarter valued at approximately $186,000. First American Bank purchased a new position in Nutanix in the 2nd quarter valued at approximately $205,000. PNC Financial Services Group Inc. purchased a new position in Nutanix in the 2nd quarter valued at approximately $208,000. Finally, Oppenheimer & Co. Inc. purchased a new position in Nutanix in the 1st quarter valued at approximately $211,000. 31.48% of the stock is owned by hedge funds and other institutional investors.

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About Nutanix

Nutanix, Inc is a United States-based company, which provides an enterprise cloud platform that converges silos of server, virtualization and storage into an integrated solution. The Company’s enterprise cloud platform connects to public cloud services. It has operations in the United States; Europe, the Middle East and Africa; Asia-Pacific, and Other Americas.

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