Nutanix, Inc., a technology company specializing in cloud computing and virtualization solutions, has seen recent insider trading activity with Tyler Wall, an insider of the company, selling 35,000 shares of stock. The transaction took place on October 10th, according to a filing with the Securities and Exchange Commission. The shares were sold at an average price of $36.87, resulting in a total value of $1,290,450.00. Following the sale, Wall now holds 63,795 shares in the company with an approximate value of $2,352,121.65.
This recent insider trading comes after Nutanix announced its quarterly earnings results on August 31st. The company reported earnings per share of ($0.03) for the quarter surpassing analysts’ consensus estimates of ($0.16) by $0.13. Furthermore, Nutanix generated revenue of $494.21 million for the quarter compared to analyst expectations of $475.64 million.
Analysts suggest that Nutanix is expected to post -0.3 earnings per share for the current fiscal year based on their projections.
In addition to insider trading activities, several hedge funds have recently bought and sold shares of Nutanix (NASDAQ: NTNX). For example, Altshuler Shaham Ltd acquired a new position in Nutanix worth about $30,000 during the first quarter.
Point72 Hong Kong Ltd also entered a new position during this period valued at approximately $35,000 while International Assets Investment Management LLC purchased shares worth roughly $46,000 during the third quarter.
Coppell Advisory Solutions Corp., acquired a stake in Nutanix valued at approximately $47,000 during Q4 as did Coppell Advisory Solutions LLC which invested around $50,000 in Q2.
Overall institutional investors and hedge funds own about 78.74% of Nutanix’s stock.
These recent financial activities potentially indicate a fluctuation in investor sentiment towards Nutanix. Interested parties may closely monitor future developments and announcements to gain insights into the company’s prospects and performance in the coming months.
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Nutanix, Inc. (NTNX) Stock Price Reaches $38.92 and Analysts Remain Optimistic
Nutanix, Inc. (NTNX) experienced a notable uptick in its stock price on Wednesday, reaching $38.92. This trading activity saw approximately 4,859,669 shares exchanged, surpassing the company’s average volume of 1,630,946 shares. As we analyze this recent development, it is important to consider Nutanix’s historical performance and market standing.
Examining Nutanix’s price trend over the past few months reveals a positive trajectory. The company’s 50-day moving average price stands at $33.00, while its two-hundred day moving average price sits slightly lower at $29.18. This signifies an upward momentum for Nutanix’s stock value in both the short and long terms.
Furthermore, it is crucial to assess the range of Nutanix’s stock price over the last year to gain a holistic understanding. The company has experienced significant fluctuations within this period, with a low point of $19.96 and a high point of $38.98. This volatility indicates that investors have perceived varying levels of risk and opportunity related to Nutanix’s business activities throughout the past year.
Considering Nutanix’s market capitalization, we find that it currently amounts to $9.33 billion, reflecting the overall value ascribed to the company by investors in relation to its outstanding shares. This figure highlights Nutanix’s position within the industry and provides insights into its relative size compared to other market players.
Determining the valuation metrics for Nutanix unveils some interesting figures worth noting. The company boasts a negative P/E ratio of -33.66, suggesting that investors may be willing to accept losses in exchange for future growth prospects or other strategic considerations specific to Nutanix’s operations. Additionally, it is noteworthy that Nutanix has a beta value of 1.23, indicating that its stock is expected to exhibit slightly higher volatility compared to the broader market.
Turning our attention to research analyst opinions on Nutanix, it becomes apparent that the company has received significant attention from industry experts. KeyCorp, for instance, raised their price target on the stock from $45.00 to $46.00 and issued an “overweight” rating in a recent report. Piper Sandler also expressed optimism, increasing its target price from $40.00 to $42.00 and assigning an “overweight” rating. Northland Securities joined in by raising their price target from $39.00 to $45.00 and giving Nutanix an “outperform” rating.
Bank of America took a more substantial stance by upgrading Nutanix’s rating from “neutral” to “buy,” while elevating the price target from $39.00 to $50.00. Barclays mirrored this positive sentiment by raising their own price objective on shares of Nutanix from $38.00 to $43.00 and issuing an “overweight” rating.
Overall, out of thirteen investment analysts surveyed, two hold ratings for Nutanix, ten are buy ratings, while one analyst has assigned a strong buy rating to the company’s stock. When taking into account Bloomberg’s data aggregation, we find that the consensus among these analysts is a “Moderate Buy” rating with a consensus price target of approximately $42.64.
In summary, despite experiencing fluctuations in its stock price over time, Nutanix has recently witnessed a significant surge in value culminating in a trading session where its shares reached $38.92 per share on October 12th, 2023. This positive development aligns with research analyst reports that have conveyed a generally optimistic outlook for Nutanix’s future performance within the market sector it operates in.
