Key Points
- CEO Rajiv Ramaswami sold 75,045 Nutanix shares at an average of $74, generating $5.55 million; combined with a 324,955-share sale the previous day, he sold 400,000 shares while retaining 414,339 shares.
- Nutanix recently exceeded quarterly expectations, reporting $0.60 EPS versus the $0.49 consensus and $757.08 million in revenue, up 15.9% year over year.
- Analysts maintain a “Moderate Buy” consensus with a $73.07 average price target, while institutional investors own 85.25% of the company’s stock.
Nutanix (NASDAQ:NTNX - Get Free Report) CEO Rajiv Ramaswami sold 75,045 shares of the company's stock in a transaction dated Wednesday, October 7th. The shares were sold at an average price of $74.00, for a total transaction of $5,553,330.00. Following the transaction, the chief executive officer owned 414,339 shares in the company, valued at $30,661,086. This represents a 15.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Rajiv Ramaswami also recently made the following trade(s):
- On Tuesday, October 6th, Rajiv Ramaswami sold 324,955 shares of Nutanix stock. The shares were sold at an average price of $73.57, for a total transaction of $23,906,939.35.
Nutanix Stock Down 0.4%
Shares of Nutanix stock opened at $73.11 on Friday. The company has a market cap of $19.78 billion, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 3.64 and a beta of 0.64. The company's 50 day moving average is $67.40 and its 200 day moving average is $54.21. Nutanix has a twelve month low of $34.01 and a twelve month high of $74.42. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 1.92.
Nutanix (NASDAQ:NTNX - Get Free Report) last issued its earnings results on Wednesday, August 26th. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.11. Nutanix had a net margin of 52.81% and a negative return on equity of 90.13%. The company had revenue of $757.08 million for the quarter, compared to analysts' expectations of $738.27 million. During the same quarter last year, the company posted $0.37 earnings per share. The firm's quarterly revenue was up 15.9% on a year-over-year basis. Research analysts anticipate that Nutanix will post 1.17 EPS for the current year.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. grew its holdings in Nutanix by 1,535.2% during 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 buying an additional 3,062,730 shares in the last quarter. Jericho Capital Asset Management L.P. lifted its holdings in shares of Nutanix by 27.3% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,107,481 shares of the technology company's stock worth $160,626,000 after buying an additional 666,000 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Nutanix by 26.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,589,508 shares of the technology company's stock worth $60,416,000 after buying an additional 331,700 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Nutanix by 628.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,185,120 shares of the technology company's stock worth $45,046,000 after buying an additional 1,022,516 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its position in shares of Nutanix by 308.1% during the first quarter. Pacer Advisors Inc. now owns 1,135,857 shares of the technology company's stock worth $43,174,000 after acquiring an additional 857,559 shares during the last quarter. 85.25% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts have weighed in on the company. Bank of America restated a "buy" rating on shares of Nutanix in a research note on Thursday, August 27th. Zacks Research cut shares of Nutanix from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 31st. Weiss Ratings reissued a "hold (c)" rating on shares of Nutanix in a report on Monday, September 21st. Needham & Company LLC started coverage on shares of Nutanix in a research report on Monday, September 28th. They set a "buy" rating and a $90.00 target price for the company. Finally, Rosenblatt Securities upped their target price on shares of Nutanix from $60.00 to $75.00 and gave the company a "buy" rating in a report on Tuesday, August 25th. Nine research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, Nutanix currently has a consensus rating of "Moderate Buy" and a consensus target price of $73.07.
Read Our Latest Report on Nutanix
Nutanix Company Profile
(
Get Free Report)
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.
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