Stock Traders Buy Large Volume of Nutanix Call Options (NASDAQ:NTNX)

Nutanix (NASDAQ:NTNXGet Free Report) saw unusually large options trading activity on Tuesday. Stock traders acquired 9,406 call options on the company. This is an increase of approximately 234% compared to the typical daily volume of 2,815 call options.

Nutanix Trading Down 2.0%

NTNX traded down $0.88 during trading on Tuesday, reaching $44.28. 1,578,472 shares of the company were exchanged, compared to its average volume of 4,326,730. Nutanix has a 52 week low of $34.01 and a 52 week high of $83.36. The firm has a 50 day moving average of $40.08 and a 200 day moving average of $47.58. The stock has a market cap of $11.74 billion, a P/E ratio of 48.18, a PEG ratio of 5.14 and a beta of 0.54.

Nutanix (NASDAQ:NTNXGet Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The technology company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.12. Nutanix had a negative return on equity of 37.41% and a net margin of 9.95%.The firm had revenue of $722.83 million for the quarter, compared to analyst estimates of $709.83 million. During the same period in the previous year, the firm earned $0.47 earnings per share. Nutanix’s quarterly revenue was up 10.4% on a year-over-year basis. As a group, analysts forecast that Nutanix will post 0.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company lowered their target price on shares of Nutanix from $57.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 26th. Barclays cut their target price on shares of Nutanix from $53.00 to $47.00 and set an “equal weight” rating for the company in a research note on Thursday, February 26th. Bank of America dropped their price objective on shares of Nutanix from $75.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Piper Sandler dropped their price objective on shares of Nutanix from $72.00 to $63.00 and set an “overweight” rating for the company in a research report on Thursday, February 26th. Finally, UBS Group raised their target price on Nutanix from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $60.87.

Get Our Latest Stock Report on Nutanix

Hedge Funds Weigh In On Nutanix

A number of hedge funds have recently modified their holdings of NTNX. New Millennium Group LLC bought a new position in Nutanix in the 4th quarter valued at $28,000. V Square Quantitative Management LLC bought a new position in Nutanix in the 4th quarter valued at $39,000. Covestor Ltd raised its position in Nutanix by 73.1% in the 4th quarter. Covestor Ltd now owns 767 shares of the technology company’s stock valued at $40,000 after purchasing an additional 324 shares during the last quarter. Harbour Investments Inc. raised its position in Nutanix by 159.4% in the 4th quarter. Harbour Investments Inc. now owns 817 shares of the technology company’s stock valued at $42,000 after purchasing an additional 502 shares during the last quarter. Finally, Frazier Financial Advisors LLC raised its position in Nutanix by 1,063.8% in the 1st quarter. Frazier Financial Advisors LLC now owns 1,094 shares of the technology company’s stock valued at $42,000 after purchasing an additional 1,000 shares during the last quarter. 85.25% of the stock is owned by institutional investors and hedge funds.

About Nutanix

(Get Free Report)

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.

Further Reading

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