Nutanix (NASDAQ:NTNX) Stock: Insider Rajiv Ramaswami Sells 324,955 Shares

Nutanix (NASDAQ:NTNX) CEO Rajiv Ramaswami sold 324,955 shares of the company’s stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $73.57, for a total value of $23,906,939.35. Following the sale, the chief executive officer owned 489,384 shares of the company’s stock, valued at approximately $36,003,980.88. This represents a 39.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $74.00, for a total value of $5,553,330.00.

Nutanix Stock 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 company has a market cap of $19.78 billion, a price-to-earnings 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 business’s 50 day moving average price is $67.12 and its 200-day moving average price is $53.97.

Nutanix (NASDAQ:NTNX) last posted its quarterly earnings data on Wednesday, August 26th. The technology company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.11. Nutanix had a negative return on equity of 90.13% and a net margin of 52.81%.The firm had revenue of $757.08 million during the quarter, compared to analysts’ expectations of $738.27 million. During the same quarter last year, the firm earned $0.37 EPS. The business’s quarterly revenue was up 15.9% on a year-over-year basis. Sell-side analysts anticipate that Nutanix will post 1.17 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Barclays lifted their price objective on shares of Nutanix from $53.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, August 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nutanix in a research report on Monday, September 21st. Rosenblatt Securities increased their price objective on Nutanix from $60.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, August 25th. KeyCorp raised their price objective on Nutanix from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, August 24th. Finally, Morgan Stanley raised their price target on shares of Nutanix from $55.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 27th. Nine equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.07.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. grew its stake in Nutanix by 1,535.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 3,262,231 shares of the technology company’s stock valued at $166,243,000 after acquiring an additional 3,062,730 shares during the period. Jericho Capital Asset Management L.P. raised its holdings in shares of Nutanix by 27.3% during the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,107,481 shares of the technology company’s stock valued at $160,626,000 after acquiring an additional 666,000 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Nutanix by 26.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,589,508 shares of the technology company’s stock worth $60,416,000 after purchasing an additional 331,700 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Nutanix by 628.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,185,120 shares of the technology company’s stock worth $45,046,000 after purchasing an additional 1,022,516 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in Nutanix by 308.1% in the 1st quarter. Pacer Advisors Inc. now owns 1,135,857 shares of the technology company’s stock valued at $43,174,000 after purchasing an additional 857,559 shares during the last quarter. 85.25% of the stock is owned by institutional investors and hedge funds.

Nutanix Company Profile

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.