Nutanix (NASDAQ:NTNX) Sets New 52-Week Low – Time to Sell?

Nutanix (NASDAQ:NTNX) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $45.82 and last traded at $45.7550, with a volume of 3738012 shares traded. The stock had previously closed at $48.67.

Analyst Ratings Changes

NTNX has been the subject of a number of analyst reports. Northland Securities cut their price target on Nutanix from $76.00 to $53.00 and set a “market perform” rating for the company in a report on Wednesday, November 26th. Northland Capmk downgraded Nutanix from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Barclays reissued an “equal weight” rating and set a $53.00 price objective (down previously from $64.00) on shares of Nutanix in a research note on Thursday. Weiss Ratings restated a “hold (c)” rating on shares of Nutanix in a research note on Monday, December 29th. Finally, Oppenheimer assumed coverage on Nutanix in a research report on Monday, November 17th. They set an “outperform” rating and a $90.00 price target for the company. Eleven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $71.07.

Nutanix Stock Performance

The company has a market cap of $12.37 billion, a P/E ratio of 60.99, a P/E/G ratio of 5.47 and a beta of 0.49. The stock has a 50-day moving average of $53.76 and a two-hundred day moving average of $65.96.

Nutanix (NASDAQ:NTNX) last posted its quarterly earnings results on Tuesday, November 25th. The technology company reported $0.41 EPS for the quarter, hitting the consensus estimate of $0.41. Nutanix had a net margin of 8.43% and a negative return on equity of 32.95%. The firm had revenue of $670.58 million for the quarter, compared to the consensus estimate of $677.23 million. During the same period last year, the firm posted $0.42 earnings per share. The business’s revenue was up 13.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Nutanix will post 0.31 EPS for the current fiscal year.

Institutional Trading of Nutanix

Several large investors have recently added to or reduced their stakes in NTNX. Vanguard Group Inc. increased its position in Nutanix by 4.6% during the third quarter. Vanguard Group Inc. now owns 26,682,475 shares of the technology company’s stock valued at $1,984,909,000 after acquiring an additional 1,167,193 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Nutanix by 40.6% during the 3rd quarter. AQR Capital Management LLC now owns 6,626,271 shares of the technology company’s stock valued at $492,928,000 after purchasing an additional 1,914,005 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Nutanix by 0.6% during the 2nd quarter. Geode Capital Management LLC now owns 4,549,909 shares of the technology company’s stock valued at $346,720,000 after purchasing an additional 25,918 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of Nutanix by 10.7% in the 3rd quarter. Federated Hermes Inc. now owns 3,559,876 shares of the technology company’s stock worth $264,819,000 after purchasing an additional 344,076 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in shares of Nutanix by 22.8% in the fourth quarter. Nordea Investment Management AB now owns 3,517,888 shares of the technology company’s stock worth $181,734,000 after buying an additional 653,042 shares during the last quarter. Institutional investors own 85.25% of the company’s stock.

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.