Nutanix Inc (NTNX) Sees Large Increase in Short Interest

Nutanix Inc (NASDAQ:NTNX) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 9,805,702 shares, an increase of 41.2% from the February 28th total of 6,942,510 shares. Based on an average daily trading volume, of 10,064,596 shares, the short-interest ratio is presently 1.0 days. Approximately 7.1% of the company’s stock are short sold.

NTNX has been the subject of a number of recent analyst reports. Morgan Stanley upgraded shares of Nutanix from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $57.00 to $58.00 in a research note on Tuesday, January 15th. Maxim Group lowered their target price on shares of Nutanix from $72.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, March 1st. Deutsche Bank started coverage on shares of Nutanix in a research note on Tuesday, March 12th. They set a “hold” rating for the company. BTIG Research decreased their price objective on shares of Nutanix to $50.00 and set a “buy” rating for the company in a research note on Friday, March 1st. Finally, Stifel Nicolaus cut shares of Nutanix from a “buy” rating to a “hold” rating and decreased their price objective for the company from $55.00 to $39.00 in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $54.69.

In other news, COO David Sangster sold 7,917 shares of Nutanix stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $35.99, for a total value of $284,932.83. Following the transaction, the chief operating officer now owns 7,917 shares of the company’s stock, valued at approximately $284,932.83. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Tyler Wall sold 12,132 shares of Nutanix stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $41.23, for a total transaction of $500,202.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,965 shares of company stock worth $1,794,076. Insiders own 14.57% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC grew its holdings in shares of Nutanix by 228.6% during the fourth quarter. Parallel Advisors LLC now owns 782 shares of the technology company’s stock worth $32,000 after buying an additional 544 shares in the last quarter. First Hawaiian Bank purchased a new stake in shares of Nutanix during the fourth quarter worth $35,000. Avestar Capital LLC grew its holdings in shares of Nutanix by 298.2% during the fourth quarter. Avestar Capital LLC now owns 1,521 shares of the technology company’s stock worth $40,000 after buying an additional 1,139 shares in the last quarter. Advisory Services Network LLC grew its holdings in shares of Nutanix by 26.6% during the fourth quarter. Advisory Services Network LLC now owns 1,203 shares of the technology company’s stock worth $50,000 after buying an additional 253 shares in the last quarter. Finally, We Are One Seven LLC purchased a new stake in shares of Nutanix during the fourth quarter worth $50,000. 54.93% of the stock is owned by institutional investors.

NASDAQ NTNX traded up $0.74 on Friday, hitting $42.84. The company had a trading volume of 4,189,763 shares, compared to its average volume of 3,699,191. The firm has a market cap of $7.80 billion, a PE ratio of -25.35 and a beta of 0.99. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.55 and a current ratio of 2.55. Nutanix has a 12-month low of $32.52 and a 12-month high of $64.87.

Nutanix (NASDAQ:NTNX) last issued its quarterly earnings results on Thursday, February 28th. The technology company reported ($0.55) EPS for the quarter, topping the consensus estimate of ($0.57) by $0.02. The company had revenue of $335.36 million during the quarter, compared to analyst estimates of $331.04 million. Nutanix had a negative net margin of 31.41% and a negative return on equity of 90.83%. On average, equities analysts predict that Nutanix will post -2.95 EPS for the current fiscal year.

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About Nutanix

Nutanix, Inc, together with its subsidiaries, develops and provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. Its solution addresses a range of workloads, including enterprise applications, databases, virtual desktop infrastructure, unified communications, and big data analytics.

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