Nutanix (NASDAQ:NTNX) Shares Gap Down Following Insider Selling

Nutanix, Inc. (NASDAQ:NTNX - Get Free Report) shares gapped down before the market opened on Wednesday following insider selling activity. 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 traded.

Specifically, Director Groen Max Pieter De sold 5,500,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $74.51, for a total value of $409,805,000.00. Following the completion of the sale, the director now directly owns 11,354,032 shares of the company's stock, valued at $845,988,924.32. This represents a 32.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven J. Gomo sold 7,000 shares of the business's stock in a transaction that occurred on 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 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.

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Analyst Ratings Changes

Several equities analysts have recently commented on NTNX shares. Northland Capmk upgraded shares of Nutanix from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 27th. StockNews.com downgraded Nutanix from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 21st. Northland Securities raised Nutanix from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $77.00 to $97.00 in a research note on Thursday, February 27th. UBS Group lifted their price target on Nutanix from $81.00 to $91.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Finally, Oppenheimer increased their price objective on Nutanix from $90.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, February 27th. One equities 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. Based on data from MarketBeat.com, Nutanix has a consensus rating of "Buy" and an average target price of $87.79.

Nutanix Stock Performance

The stock has a market cap of $18.86 billion, a price-to-earnings ratio of -201.17, a price-to-earnings-growth ratio of 11.80 and a beta of 1.04. The stock's 50-day simple moving average is $68.06 and its two-hundred day simple moving average is $65.16.

Institutional Trading of Nutanix

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