Short Interest in Nutanix, Inc. (NASDAQ:NTNX) Declines By 12.4%

Nutanix, Inc. (NASDAQ:NTNX - Get Free Report) saw a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 7,500,000 shares, a decline of 12.4% from the February 28th total of 8,560,000 shares. Based on an average daily trading volume, of 2,350,000 shares, the short-interest ratio is presently 3.2 days. Currently, 3.0% of the company's shares are short sold.

Insiders Place Their Bets

In other Nutanix news, Director Groen Max Pieter De sold 5,500,000 shares of Nutanix stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $74.51, for a total transaction of $409,805,000.00. Following the transaction, the director now directly owns 11,354,032 shares of the company's stock, valued at $845,988,924.32. The trade was a 32.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the transaction, the director now owns 3,050 shares in the company, valued at $232,288. The trade was a 69.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,610,886 shares of company stock valued at $417,646,356. Insiders own 6.80% of the company's stock.

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Hedge Funds Weigh In On Nutanix

A number of institutional investors and hedge funds have recently made changes to their positions in NTNX. Larson Financial Group LLC increased its position in shares of Nutanix by 28.6% in the 4th quarter. Larson Financial Group LLC now owns 656 shares of the technology company's stock valued at $40,000 after purchasing an additional 146 shares during the last quarter. True Wealth Design LLC lifted its holdings in Nutanix by 13.2% during the 4th quarter. True Wealth Design LLC now owns 1,249 shares of the technology company's stock worth $76,000 after buying an additional 146 shares during the last quarter. Azzad Asset Management Inc. ADV boosted its position in shares of Nutanix by 0.5% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 34,887 shares of the technology company's stock worth $2,134,000 after acquiring an additional 159 shares in the last quarter. Avantax Advisory Services Inc. increased its holdings in shares of Nutanix by 3.4% in the 4th quarter. Avantax Advisory Services Inc. now owns 5,698 shares of the technology company's stock valued at $349,000 after acquiring an additional 188 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of Nutanix by 78.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 436 shares of the technology company's stock worth $30,000 after acquiring an additional 191 shares in the last quarter. 85.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on NTNX shares. Piper Sandler lowered their price objective on Nutanix from $88.00 to $76.00 and set an "overweight" rating for the company in a research report on Tuesday. Raymond James set a $83.00 price target on Nutanix in a research note on Thursday, February 27th. Wells Fargo & Company raised their price objective on Nutanix from $75.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 27th. Morgan Stanley upped their target price on shares of Nutanix from $78.00 to $85.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. Finally, Needham & Company LLC increased their target price on shares of Nutanix from $90.00 to $92.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $86.93.

Nutanix Trading Up 0.4 %

NTNX traded up $0.26 on Tuesday, hitting $58.88. 1,252,657 shares of the company were exchanged, compared to its average volume of 2,487,531. The company has a market cap of $15.70 billion, a price-to-earnings ratio of -168.12, a price-to-earnings-growth ratio of 11.80 and a beta of 0.84. The firm has a 50-day moving average price of $70.44 and a two-hundred day moving average price of $66.70. Nutanix has a twelve month low of $43.35 and a twelve month high of $79.99.

About Nutanix

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.