Nutanix (NASDAQ:NTNX) CEO Rajiv Ramaswami Sells 324,955 Shares of Company Stock

Nutanix (NASDAQ:NTNX) CEO Rajiv Ramaswami sold 324,955 shares of Nutanix stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $73.57, for a total value of $23,906,939.35. Following the transaction, the chief executive officer directly owned 489,384 shares of the company’s stock, valued at $36,003,980.88. This trade represents a 39.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Rajiv Ramaswami also recently made the following trade(s):

• On Wednesday, October 7th, Rajiv Ramaswami sold 75,045 shares of Nutanix stock. The shares were sold at an average price of $74.00, for a total transaction of $5,553,330.00.

Nutanix Trading Down 0.4%

Shares of Nutanix stock opened at $73.11 on Friday. The business’s fifty day moving average is $67.40 and its two-hundred day moving average is $54.21. 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 has a fifty-two week low of $34.01 and a fifty-two week high of $74.42. The firm has a market cap of $19.78 billion, a PE ratio of 14.17, a P/E/G ratio of 3.64 and a beta of 0.64.

Nutanix (NASDAQ:NTNX) last released its earnings results on Wednesday, August 26th. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.11. Nutanix had a net margin of 52.81% and a negative return on equity of 90.13%. The firm had revenue of $757.08 million during the quarter, compared to the consensus estimate of $738.27 million. During the same period in the previous year, the firm earned $0.37 earnings per share. Nutanix’s revenue was up 15.9% compared to the same quarter last year. Analysts anticipate that Nutanix will post 1.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Barclays boosted their target price on shares of Nutanix from $53.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, August 28th. Zacks Research cut Nutanix from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 31st. KeyCorp increased their price objective on shares of Nutanix from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, August 24th. Northland Securities set a $70.00 target price on shares of Nutanix in a research note on Thursday, August 27th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating on shares of Nutanix in a research note 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 data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $73.07.

Institutional Trading of Nutanix

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its holdings in shares of Nutanix by 12.4% in the third quarter. GAMMA Investing LLC now owns 11,305 shares of the technology company’s stock valued at $796,000 after acquiring an additional 1,245 shares in the last quarter. Grove Bank & Trust bought a new stake in Nutanix during the third quarter worth approximately $828,000. Farther Finance Advisors LLC lifted its position in Nutanix by 6.6% in the third quarter. Farther Finance Advisors LLC now owns 4,980 shares of the technology company’s stock worth $351,000 after purchasing an additional 310 shares during the period. Whalen Wealth Management Inc. acquired a new stake in Nutanix in the third quarter worth approximately $314,000. Finally, Doliver Advisors LP boosted its stake in Nutanix by 3.0% during the 3rd quarter. Doliver Advisors LP now owns 7,657 shares of the technology company’s stock valued at $539,000 after purchasing an additional 221 shares in the last quarter. 85.25% of the stock is currently owned by institutional investors.

Nutanix Company Profile

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.