Short-term stake in Nutanix, Inc. (NASDAQ: NTNX) increases 43.3%

Nutanix, Inc. (NASDAQ:NTNX – Get Rating) saw a surge in short-term interest in May. As of May 31, there was short interest totaling 8,210,000 shares, an increase of 43.3% from the May 15 total of 5,730,000 shares. Based on an average daily trading volume of 2,390,000 shares, the short interest ratio is currently 3.4 days.

Shares of NTNX rose $0.57 during trading hours on Wednesday, hitting $14.32. The stock recorded a trading volume of 133,654 shares, compared to an average volume of 2,180,884 shares. Nutanix has a 1-year low of $13.44 and a 1-year high of $44.50. The stock’s 50-day moving average price is $21.80 and its two-hundred-day moving average price is $26.06. The stock has a market capitalization of $3.21 billion, a price-earnings ratio of -3.04 and a beta of 1.52.

Nutanix (NASDAQ:NTNX – Get Rating) last released its quarterly results on Wednesday, May 25. The technology company reported EPS of $0.05 for the quarter, beating the consensus estimate of $0.22 by $0.17. The company posted revenue of $403.70 million in the quarter, compared to $397.90 million expected by analysts. The company’s revenue increased 17.2% year over year. In the same quarter of the previous year, the company recorded EPS of ($0.87). As a group, analysts expect Nutanix to post -2.24 EPS for the current year.

Separately, CEO Rajiv Ramaswami sold 5,000 shares of the company in a deal that took place on Friday, March 18. The stock was sold at an average price of $24.72, for a total transaction of $123,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, available on the SEC’s website. 0.92% of the shares are held by insiders of the company.

A number of institutional investors and hedge funds have recently increased or reduced their stake in NTNX. Norges Bank bought a new position in Nutanix stock during the fourth quarter worth approximately $68,740,000. Woodline Partners LP increased its position in Nutanix shares by 1,643.6% during the fourth quarter. Woodline Partners LP now owns 1,478,004 shares of the technology company valued at $47,089,000 after purchasing an additional 1,393,239 shares during the period. Vanguard Group Inc. increased its position in Nutanix shares by 5.0% during the first quarter. Vanguard Group Inc. now owns 23,344,292 shares of the technology company valued at $626,094,000 after purchasing an additional 1,116,856 shares during the period. Wellington Management Group LLP increased its position in Nutanix shares by 6,627.1% during the first quarter. Wellington Management Group LLP now owns 991,370 shares of the technology company valued at $26,589,000 after purchasing an additional 976,633 shares during the period. Finally, Two Sigma Advisers LP increased its position in Nutanix shares by 81.4% during the third quarter. Two Sigma Advisers LP now owns 2,141,935 shares of the technology company valued at $80,751,000 after purchasing an additional 960,900 shares during the period. Institutional investors hold 70.43% of the company’s shares.

Several analysts have commented on NTNX shares. Bank of America downgraded Nutanix from a “buy” rating to a “neutral” rating and reduced its target price for the company from $54.00 to $22.00 in a Thursday, May 26 research note. JMP Securities cut its target price on Nutanix from $48.00 to $35.00 and set a “market outperformance” rating on the stock in a Thursday, May 26 research note. Needham & Company LLC reduced its price target on Nutanix from $34.00 to $20.00 and set a “buy” rating on the stock in a Thursday, May 26 research note. William Blair downgraded Nutanix from an “outperforming” rating to a “market performance” rating in a Thursday, May 26 research note. Finally, Morgan Stanley cut its price target on Nutanix from $31.00 to $18.00 and set an “equal weight” rating on the stock in a Thursday, May 26 research note. Six equity research analysts gave the stock a hold rating and eight gave the company a buy rating. According to data from MarketBeat.com, Nutanix has a consensus rating of “Buy” and a consensus target price of $30.00.

Nutanix Company Profile (Get a rating)

Nutanix, Inc provides an enterprise cloud platform in North America, Europe, Asia-Pacific, the Middle East, Latin America and Africa. The company offers Acropolis converged virtualization, enterprise storage services, and network visualization and security services; Acropolis Hypervisor, an enterprise-grade virtualization solution; Nutanix Karbon for automated deployment and management of Kubernetes clusters to simplify provisioning, operations, and lifecycle management of cloud-native environments; and the Nutanix Clusters solution.

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