Nutanix (NASDAQ:NTNX) Shares Gap Down – Here’s What Happened

Nutanix, Inc. (NASDAQ:NTNX)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $77.08, but opened at $75.00. Nutanix shares last traded at $75.36, with a volume of 320,186 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Oppenheimer boosted their price target on Nutanix from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. Barclays set a $94.00 price target on shares of Nutanix and gave the company an “overweight” rating in a research note on Thursday, February 27th. StockNews.com downgraded Nutanix from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. lifted their price target on Nutanix from $83.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Finally, Northland Capmk raised shares of Nutanix from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Nutanix has an average rating of “Buy” and a consensus price target of $87.79.

Nutanix Price Performance

The business has a fifty day simple moving average of $67.49 and a 200 day simple moving average of $64.74. The firm has a market cap of $20.24 billion, a price-to-earnings ratio of -215.24, a PEG ratio of 11.80 and a beta of 1.17.

Insider Buying and Selling

In other news, Director Steven J. Gomo sold 7,000 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $76.16, for a total transaction of $533,120.00. Following the transaction, the director now owns 3,050 shares of the company’s stock, valued at approximately $232,288. The trade was a 69.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Virginia Gambale sold 6,060 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $64.73, for a total transaction of $392,263.80. Following the sale, the director now owns 45,330 shares of the company’s stock, valued at approximately $2,934,210.90. The trade was a 11.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 184,917 shares of company stock worth $12,647,901. 6.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Nutanix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Nutanix by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 25,636,598 shares of the technology company’s stock worth $1,568,447,000 after buying an additional 146,854 shares during the period. Bain Capital Investors LLC purchased a new position in Nutanix in the 3rd quarter valued at approximately $998,601,000. Champlain Investment Partners LLC grew its stake in shares of Nutanix by 3.7% in the third quarter. Champlain Investment Partners LLC now owns 5,989,319 shares of the technology company’s stock worth $354,867,000 after acquiring an additional 215,363 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Nutanix by 6.5% during the fourth quarter. Renaissance Technologies LLC now owns 4,418,900 shares of the technology company’s stock worth $270,348,000 after acquiring an additional 268,400 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Nutanix by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 4,311,000 shares of the technology company’s stock valued at $263,275,000 after acquiring an additional 163,874 shares in the last quarter. Institutional investors and hedge funds own 85.25% of the company’s stock.

Nutanix Company Profile

Nutanix, Inc engages in the provision of a cloud platform leveraging web-scale engineering and consumer-grade design. It operates through the following geographic segments: United States, Europe, the Middle East, Africa, Asia Pacific, and Other Americas. The firm also provides software solutions and cloud services to customers’ enterprise infrastructure.