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

Nutanix, Inc. (NASDAQ:NTNX) was the recipient of a large drop in short interest in the month of 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. Based on an average trading volume of 2,350,000 shares, the short-interest ratio is currently 3.2 days. Approximately 3.0% of the shares of the stock are sold short.

Nutanix Stock Performance

Shares of NASDAQ:NTNX traded down $5.68 during trading on Thursday, reaching $65.69. The stock had a trading volume of 743,238 shares, compared to its average volume of 2,473,840. Nutanix has a 52 week low of $43.35 and a 52 week high of $79.99. The firm’s fifty day moving average is $70.66 and its 200 day moving average is $66.60. The stock has a market cap of $17.52 billion, a price-to-earnings ratio of -187.69, a P/E/G ratio of 11.80 and a beta of 1.04.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on NTNX shares. Piper Sandler raised their target price on Nutanix from $83.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. JPMorgan Chase & Co. boosted their target price on Nutanix from $83.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Barclays set a $94.00 price target on shares of Nutanix and gave the company an “overweight” rating in a report on Thursday, February 27th. UBS Group increased their price objective on shares of Nutanix from $81.00 to $91.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Finally, Northland Securities upgraded shares of Nutanix from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $77.00 to $97.00 in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Nutanix presently has an average rating of “Buy” and an average target price of $87.79.

Insiders Place Their Bets

In other Nutanix news, CEO Rajiv Ramaswami sold 7,740 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $75.00, for a total value of $580,500.00. Following the transaction, the chief executive officer now directly owns 558,366 shares of the company’s stock, valued at $41,877,450. This trade represents a 1.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven J. Gomo sold 7,000 shares of the company’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 of the company’s stock, valued at approximately $232,288. This trade represents a 69.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,610,886 shares of company stock worth $417,646,356 in the last 90 days. Company insiders own 6.80% of the company’s stock.

Institutional Trading of Nutanix

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Nutanix by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 25,636,598 shares of the technology company’s stock valued at $1,568,447,000 after purchasing an additional 146,854 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Nutanix by 6.5% during the 4th quarter. Renaissance Technologies LLC now owns 4,418,900 shares of the technology company’s stock worth $270,348,000 after buying an additional 268,400 shares in the last quarter. Geode Capital Management LLC grew its position 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 buying an additional 163,874 shares during the period. First Trust Advisors LP grew its position in shares of Nutanix by 9.3% during the 4th quarter. First Trust Advisors LP now owns 3,498,768 shares of the technology company’s stock worth $214,055,000 after buying an additional 297,754 shares during the period. Finally, Norges Bank bought a new stake in shares of Nutanix in the 4th quarter valued at $195,758,000. Institutional investors own 85.25% of the company’s stock.

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.