Nutanix (NASDAQ:NTNX) Trading Down 5.6% – Should You Sell?

Nutanix (NASDAQ:NTNX)’s share price was down 5.6% during trading on Wednesday . The company traded as low as $45.37 and last traded at $45.5530. Approximately 520,757 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 4,272,819 shares. The stock had previously closed at $48.27.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on NTNX shares. Wall Street Zen lowered shares of Nutanix from a “buy” rating to a “hold” rating in a research note on Tuesday, March 10th. Barclays decreased their target price on shares of Nutanix from $53.00 to $47.00 and set an “equal weight” rating for the company in a research note on Thursday, February 26th. Piper Sandler decreased their target price on shares of Nutanix from $72.00 to $63.00 and set an “overweight” rating for the company in a research note on Thursday, February 26th. UBS Group lifted their target price on shares of Nutanix from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Finally, William Blair reissued a “market perform” rating on shares of Nutanix in a research note on Monday, March 23rd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $60.87.

Nutanix Trading Down 7.3%

The stock has a market cap of $11.87 billion, a P/E ratio of 48.43, a P/E/G ratio of 5.30 and a beta of 0.54. The firm’s fifty day moving average is $40.82 and its 200 day moving average is $46.60.

Nutanix (NASDAQ:NTNX) last posted its quarterly earnings data on Wednesday, February 25th. The technology company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.12. Nutanix had a net margin of 9.95% and a negative return on equity of 37.41%. The company had revenue of $722.83 million for the quarter, compared to the consensus estimate of $709.83 million. During the same quarter in the previous year, the firm posted $0.47 EPS. The business’s revenue was up 10.4% compared to the same quarter last year. Research analysts forecast that Nutanix will post 0.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nutanix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its holdings in Nutanix by 102.0% in the third quarter. Rhumbline Advisers now owns 868,143 shares of the technology company’s stock valued at $64,581,000 after buying an additional 438,268 shares during the period. Vinva Investment Management Ltd lifted its holdings in Nutanix by 222.8% in the third quarter. Vinva Investment Management Ltd now owns 353,511 shares of the technology company’s stock valued at $27,221,000 after buying an additional 244,006 shares during the period. Nordea Investment Management AB lifted its holdings in Nutanix by 22.8% in the fourth quarter. Nordea Investment Management AB now owns 3,517,888 shares of the technology company’s stock valued at $181,734,000 after buying an additional 653,042 shares during the period. Thrivent Financial for Lutherans lifted its holdings in Nutanix by 674.7% in the third quarter. Thrivent Financial for Lutherans now owns 61,590 shares of the technology company’s stock valued at $4,582,000 after buying an additional 53,640 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in Nutanix by 1,196.7% in the fourth quarter. SG Americas Securities LLC now owns 139,509 shares of the technology company’s stock valued at $7,211,000 after buying an additional 128,750 shares during the period. 85.25% of the stock is currently owned by institutional investors and hedge funds.

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.