Nutanix Inc. (NTNX) Shares Gap Down Following Insider Selling

Nutanix Inc. (NASDAQ:NTNX)’s share price gapped down prior to trading on Monday after an insider sold shares in the company. The stock had previously closed at $17.86, but opened at $17.48. Nutanix shares last traded at $17.28, with a volume of 3,158,436 shares trading hands.

Specifically, EVP David Sangster sold 300,000 shares of the company’s stock in a transaction on Thursday, March 30th. The shares were sold at an average price of $18.78, for a total value of $5,634,000.00. Following the completion of the sale, the executive vice president now owns 303,405 shares in the company, valued at approximately $5,697,945.90. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Duston Williams sold 80,244 shares of the company’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $17.23, for a total transaction of $1,382,604.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,424,623 shares of company stock valued at $44,678,911.

Several analysts have recently issued reports on the stock. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $34.00 target price on shares of Nutanix in a research note on Monday, June 5th. Maxim Group reissued a “buy” rating and issued a $41.00 price target on shares of Nutanix in a report on Saturday, June 3rd. Pacific Crest reissued an “overweight” rating and issued a $30.00 price target on shares of Nutanix in a report on Tuesday, May 30th. Bank of America Corporation reissued a “buy” rating and issued a $27.00 price target on shares of Nutanix in a report on Tuesday, May 30th. Finally, Susquehanna Bancshares Inc reissued a “neutral” rating and issued a $19.00 price target (up from $18.00) on shares of Nutanix in a report on Monday, May 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Nutanix presently has an average rating of “Buy” and a consensus price target of $32.48.

The company’s 50 day moving average is $17.11 and its 200-day moving average is $23.32. The firm’s market cap is $2.78 billion. Nutanix also was the target of some unusual options trading on Monday. Stock traders purchased 1,998 call options on the company. This represents an increase of 123% compared to the average daily volume of 896 call options.

Nutanix (NASDAQ:NTNX) last released its quarterly earnings results on Thursday, May 25th. The technology company reported ($0.77) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.45) by $0.32. The firm had revenue of $191.76 million for the quarter, compared to the consensus estimate of $186.56 million. Nutanix had a negative net margin of 61.32% and a negative return on equity of 5,196.17%. The business’s quarterly revenue was up 67.2% on a year-over-year basis. On average, analysts anticipate that Nutanix Inc. will post ($1.45) EPS for the current year.

Several large investors have recently added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. bought a new position in Nutanix during the first quarter worth $211,000. Washington Capital Management Inc. bought a new position in Nutanix during the first quarter worth $225,000. IPG Investment Advisors LLC bought a new position in Nutanix during the first quarter worth $225,000. FNY Managed Accounts LLC bought a new position in Nutanix during the first quarter worth $244,000. Finally, Quantbot Technologies LP boosted its position in Nutanix by 66.5% in the first quarter. Quantbot Technologies LP now owns 14,202 shares of the technology company’s stock worth $266,000 after buying an additional 5,673 shares during the last quarter. Institutional investors and hedge funds own 18.39% of the company’s stock.

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Nutanix Company Profile

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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