Nutanix (NASDAQ:NTNX) Shares Down 2.6%

Nutanix, Inc. (NASDAQ:NTNX)’s stock price fell 2.6% during mid-day trading on Friday . The stock traded as low as $59.18 and last traded at $59.21. 476,686 shares traded hands during trading, a decline of 82% from the average session volume of 2,669,146 shares. The stock had previously closed at $60.77.

Wall Street Analyst Weigh In

Several research analysts have weighed in on NTNX shares. Barclays upped their target price on Nutanix from $71.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Piper Sandler lifted their target price on shares of Nutanix from $76.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Royal Bank of Canada raised their price target on shares of Nutanix from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. upped their price objective on shares of Nutanix from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Finally, Raymond James raised their target price on Nutanix from $76.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $73.31.

Nutanix Stock Performance

The firm’s 50-day moving average price is $53.70 and its 200 day moving average price is $58.97.

Insiders Place Their Bets

In other news, CFO Rukmini Sivaraman sold 12,566 shares of the firm’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $53.22, for a total value of $668,762.52. Following the transaction, the chief financial officer now directly owns 144,902 shares in the company, valued at approximately $7,711,684.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Rukmini Sivaraman sold 12,566 shares of Nutanix stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $53.22, for a total transaction of $668,762.52. Following the transaction, the chief financial officer now owns 144,902 shares of the company’s stock, valued at approximately $7,711,684.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO David Sangster sold 10,384 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $54.19, for a total transaction of $562,708.96. Following the completion of the sale, the chief operating officer now directly owns 64,333 shares of the company’s stock, valued at approximately $3,486,205.27. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,936 shares of company stock valued at $2,531,273. Company insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Nutanix

Large investors have recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Nutanix in the second quarter worth $25,000. Itau Unibanco Holding S.A. acquired a new position in shares of Nutanix during the 2nd quarter worth about $32,000. Atlantic Edge Private Wealth Management LLC bought a new position in shares of Nutanix in the 4th quarter valued at about $29,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Nutanix in the fourth quarter valued at about $37,000. Finally, GAMMA Investing LLC raised its holdings in Nutanix by 35.2% during the second quarter. GAMMA Investing LLC now owns 933 shares of the technology company’s stock worth $53,000 after acquiring an additional 243 shares in the last quarter. Institutional investors own 85.25% of the company’s stock.

Nutanix Company Profile

Nutanix, Inc provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. The company offers hyperconverged infrastructure software stack that converges virtualization, storage, and networking services into a turnkey solution; Acropolis Hypervisor, an enterprise-grade virtualization solution; flow virtual networking and flow network security, which offers services to visualize the network, automate common network operations, and build virtual private networks; Nutanix Kubernetes Engine for automated deployment and management of Kubernetes clusters to simplify the provisioning, operations, and lifecycle management of cloud-native environments, applications, and microservices; and Nutanix Cloud Clusters.