Short Interest in Nutanix (NASDAQ:NTNX) Decreases By 42.5%

Nutanix (NASDAQ:NTNX) was the target of a significant decrease in short interest in July. As of July 31st, there was short interest totaling 15,061,103 shares, a decrease of 42.5% from the July 15th total of 26,187,342 shares. Currently, 5.7% of the company’s stock are sold short. Based on an average daily volume of 2,585,234 shares, the days-to-cover ratio is presently 5.8 days.

Analyst Upgrades and Downgrades

NTNX has been the subject of several recent research reports. Northland Securities set a $47.00 price objective on Nutanix in a report on Thursday, May 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nutanix in a research note on Wednesday, June 24th. Wells Fargo & Company lifted their price target on Nutanix from $50.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 28th. Zacks Research raised shares of Nutanix from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Finally, Piper Sandler restated an “overweight” rating on shares of Nutanix in a research note on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $61.86.

Nutanix Trading Up 0.4%

Shares of Nutanix stock traded up $0.25 during trading on Wednesday, reaching $66.08. The company’s stock had a trading volume of 262,367 shares, compared to its average volume of 4,037,296. Nutanix has a one year low of $34.01 and a one year high of $82.42. The stock has a 50-day moving average price of $55.14 and a two-hundred day moving average price of $46.70. The stock has a market capitalization of $17.86 billion, a P/E ratio of 69.56, a price-to-earnings-growth ratio of 4.41 and a beta of 0.60.

Nutanix (NASDAQ:NTNX) last issued its quarterly earnings results on Wednesday, May 27th. The technology company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.12. Nutanix had a net margin of 10.03% and a negative return on equity of 38.96%. The business had revenue of $703.07 million during the quarter, compared to analyst estimates of $686.34 million. During the same quarter last year, the business posted $0.22 earnings per share. Nutanix’s revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Nutanix will post 0.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Nutanix

A number of institutional investors and hedge funds have recently modified their holdings of the business. CX Institutional boosted its stake in Nutanix by 134.6% in the second quarter. CX Institutional now owns 488 shares of the technology company’s stock valued at $25,000 after acquiring an additional 280 shares during the last quarter. Western Wealth Management LLC bought a new stake in shares of Nutanix during the 1st quarter valued at $27,000. New Millennium Group LLC bought a new stake in shares of Nutanix during the 4th quarter valued at $28,000. Covestor Ltd lifted its stake in shares of Nutanix by 73.1% in the 4th quarter. Covestor Ltd now owns 767 shares of the technology company’s stock valued at $40,000 after purchasing an additional 324 shares during the period. Finally, Harbour Investments Inc. lifted its stake in shares of Nutanix by 159.4% in the 4th quarter. Harbour Investments Inc. now owns 817 shares of the technology company’s stock valued at $42,000 after purchasing an additional 502 shares during the period. 85.25% of the stock is owned by institutional investors.

About Nutanix

Nutanix, Inc is an enterprise cloud computing company that develops software to simplify the deployment and management of datacenter infrastructure. Founded in 2009 and headquartered in San Jose, California, Nutanix is best known for pioneering hyperconverged infrastructure (HCI), an approach that integrates compute, storage and virtualization into a single software-defined platform aimed at reducing complexity and operational overhead in private and hybrid cloud environments.

The company’s product portfolio centers on the Nutanix Cloud Platform, which includes its core AOS software for HCI, Prism for infrastructure management and automation, and a suite of additional services such as Calm for application automation, Files and Volumes for file and block services, Karbon for Kubernetes orchestration, and Era for database management.