Insider Selling: Nutanix, Inc. (NASDAQ:NTNX) Director Sells 7,000 Shares of Stock

Nutanix, Inc. (NASDAQ:NTNX) Director Virginia Gambale sold 7,000 shares of the firm’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $78.00, for a total value of $546,000.00. Following the completion of the sale, the director now directly owns 38,330 shares in the company, valued at $2,989,740. The trade was a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Nutanix Price Performance

NTNX traded down $1.67 on Monday, hitting $75.44. The company had a trading volume of 2,691,066 shares, compared to its average volume of 2,523,861. Nutanix, Inc. has a 52-week low of $43.35 and a 52-week high of $83.36. The stock has a fifty day simple moving average of $70.93 and a 200-day simple moving average of $69.07. The firm has a market capitalization of $20.12 billion, a P/E ratio of -215.54, a P/E/G ratio of 11.80 and a beta of 0.69.

Institutional Trading of Nutanix

Institutional investors and hedge funds have recently bought and sold shares of the stock. Harbour Investments Inc. lifted its holdings in shares of Nutanix by 2,612.5% during the fourth quarter. Harbour Investments Inc. now owns 434 shares of the technology company’s stock valued at $27,000 after purchasing an additional 418 shares during the last quarter. Colonial Trust Co SC purchased a new position in shares of Nutanix during the fourth quarter valued at approximately $28,000. Twin Tree Management LP purchased a new position in shares of Nutanix during the first quarter valued at approximately $29,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Nutanix by 78.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 436 shares of the technology company’s stock valued at $30,000 after purchasing an additional 191 shares during the last quarter. Finally, GW&K Investment Management LLC purchased a new position in shares of Nutanix during the first quarter valued at approximately $30,000. 85.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on NTNX shares. Needham & Company LLC reissued a “buy” rating and issued a $92.00 target price on shares of Nutanix in a research note on Thursday, May 29th. Northland Capmk raised Nutanix from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 27th. Wall Street Zen raised Nutanix from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 30th. JPMorgan Chase & Co. raised 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. Finally, Wells Fargo & Company raised their target price on Nutanix from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Nutanix has an average rating of “Buy” and a consensus target price of $90.38.

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.