Nutanix, Inc. (NASDAQ:NTNX) Sees Large Decrease in Short Interest

Nutanix, Inc. (NASDAQ:NTNX - Get Free Report) saw a large drop in short interest in March. As of March 15th, there was short interest totalling 7,500,000 shares, a drop of 12.4% from the February 28th total of 8,560,000 shares. Approximately 3.0% of the shares of the stock are short sold. Based on an average trading volume of 2,350,000 shares, the days-to-cover ratio is currently 3.2 days.

Insider Activity at Nutanix

In related news, Director Groen Max Pieter De sold 5,500,000 shares of Nutanix stock in a transaction that occurred on 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 sale, the director now directly owns 11,354,032 shares in the company, valued at $845,988,924.32. This trade represents a 32.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven J. Gomo sold 7,000 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $76.16, for a total transaction of $533,120.00. Following the sale, the director now directly 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. Insiders have sold a total of 5,610,886 shares of company stock valued at $417,646,356 in the last 90 days. 6.80% of the stock is owned by corporate insiders.

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Institutional Trading of Nutanix

Several hedge funds have recently bought and sold shares of the business. Harbour Investments Inc. raised its holdings in Nutanix by 2,612.5% during the fourth quarter. Harbour Investments Inc. now owns 434 shares of the technology company's stock worth $27,000 after buying an additional 418 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Nutanix by 78.0% in 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 during the last quarter. Colonial Trust Co SC bought a new position in Nutanix in the 4th quarter valued at about $28,000. Allworth Financial LP boosted its stake in Nutanix by 123.1% during the 4th quarter. Allworth Financial LP now owns 464 shares of the technology company's stock valued at $31,000 after purchasing an additional 256 shares during the last quarter. Finally, Principal Securities Inc. increased its holdings in Nutanix by 52.4% during the 4th quarter. Principal Securities Inc. now owns 579 shares of the technology company's stock worth $35,000 after purchasing an additional 199 shares in the last quarter. Institutional investors and hedge funds own 85.25% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on NTNX. Royal Bank of Canada upped their price target on Nutanix from $83.00 to $95.00 and gave the company an "outperform" rating in a research report on Thursday, February 27th. Needham & Company LLC increased their target price on shares of Nutanix from $90.00 to $92.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Barclays set a $94.00 price target on shares of Nutanix and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Northland Securities raised shares of Nutanix from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $77.00 to $97.00 in a research note on Thursday, February 27th. Finally, Oppenheimer lifted their target price on shares of Nutanix from $90.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, February 27th. One research 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 company's stock. According to data from MarketBeat, Nutanix has an average rating of "Buy" and an average target price of $87.79.

Nutanix Trading Down 9.7 %

NTNX stock traded down $6.28 during trading on Friday, reaching $58.50. 4,450,783 shares of the stock were exchanged, compared to its average volume of 2,489,955. The firm's 50 day moving average is $70.53 and its 200 day moving average is $66.70. The firm has a market cap of $15.60 billion, a P/E ratio of -167.14, a price-to-earnings-growth ratio of 11.80 and a beta of 1.04. Nutanix has a twelve month low of $43.35 and a twelve month high of $79.99.

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.