Nutanix (NASDAQ:NTNX) Short Interest Update

Nutanix (NASDAQ:NTNX) saw a large decline in short interest during the month of July. As of July 31st, there was short interest totaling 15,061,103 shares, a decline of 42.5% from the July 15th total of 26,187,342 shares. Approximately 5.7% of the company’s stock are short sold. Based on an average daily volume of 2,585,234 shares, the short-interest ratio is currently 5.8 days.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. UBS Group increased their price target on shares of Nutanix from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Piper Sandler restated an “overweight” rating on shares of Nutanix in a research note on Wednesday, June 24th. KeyCorp reiterated an “overweight” rating on shares of Nutanix in a research report on Thursday, May 28th. JPMorgan Chase & Co. boosted their price target on Nutanix from $44.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, May 28th. Finally, Bank of America raised their price objective on Nutanix from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Nutanix presently has a consensus rating of “Moderate Buy” and an average target price of $61.86.

Nutanix Trading Up 0.3%

NTNX traded up $0.17 on Tuesday, hitting $65.83. 1,832,088 shares of the company’s stock were exchanged, compared to its average volume of 4,061,759. The stock has a fifty day moving average of $55.14 and a two-hundred day moving average of $46.70. Nutanix has a twelve month low of $34.01 and a twelve month high of $82.42. The firm has a market cap of $17.80 billion, a PE ratio of 69.30, a P/E/G ratio of 4.41 and a beta of 0.60.

Nutanix (NASDAQ:NTNX) last posted its earnings results on Wednesday, May 27th. The technology company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.35 by $0.12. The company had revenue of $703.07 million during the quarter, compared to analyst estimates of $686.34 million. Nutanix had a negative return on equity of 38.96% and a net margin of 10.03%.The business’s revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.22 earnings per share. On average, analysts predict that Nutanix will post 0.71 EPS for the current year.

Institutional Trading of Nutanix

Hedge funds have recently bought and sold shares of the company. CW Advisors LLC acquired a new stake in shares of Nutanix in the second quarter valued at approximately $273,000. Cerity Partners LLC raised its stake in Nutanix by 15.2% during the 2nd quarter. Cerity Partners LLC now owns 83,073 shares of the technology company’s stock valued at $6,350,000 after acquiring an additional 10,967 shares in the last quarter. Bank of Nova Scotia boosted its position in Nutanix by 296.5% during the 2nd quarter. Bank of Nova Scotia now owns 41,616 shares of the technology company’s stock worth $3,181,000 after acquiring an additional 31,119 shares during the period. Daiwa Securities Group Inc. boosted its position in Nutanix by 94.7% during the 2nd quarter. Daiwa Securities Group Inc. now owns 48,263 shares of the technology company’s stock worth $3,690,000 after acquiring an additional 23,479 shares during the period. Finally, NewEdge Advisors LLC increased its holdings in shares of Nutanix by 164.4% during the second quarter. NewEdge Advisors LLC now owns 8,622 shares of the technology company’s stock valued at $659,000 after purchasing an additional 5,361 shares during the period. 85.25% of the stock is currently owned by institutional investors.

About Nutanix

Nutanix, Inc is an enterprise cloud computing company that develops software to simplify the deployment and management of datacenter infrastructure. Founded in 2009 and headquartered in San Jose, California, Nutanix is best known for pioneering hyperconverged infrastructure (HCI), an approach that integrates compute, storage and virtualization into a single software-defined platform aimed at reducing complexity and operational overhead in private and hybrid cloud environments.

The company’s product portfolio centers on the Nutanix Cloud Platform, which includes its core AOS software for HCI, Prism for infrastructure management and automation, and a suite of additional services such as Calm for application automation, Files and Volumes for file and block services, Karbon for Kubernetes orchestration, and Era for database management.