Nutanix Inc. (NTNX) Announces Earnings Results
Nutanix Inc. (NASDAQ:NTNX) released its earnings results on Thursday, August 31st. The technology company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.05, Briefing.com reports. Nutanix had a negative net margin of 59.72% and a negative return on equity of 248.46%. The firm had revenue of $226.10 million during the quarter, compared to analyst estimates of $216 million. The business’s quarterly revenue was up 61.7% compared to the same quarter last year. Nutanix updated its Q1 guidance to ($0.37) EPS.
Shares of Nutanix (NASDAQ NTNX) traded down 1.42% during midday trading on Thursday, hitting $22.16. 4,589,447 shares of the stock were exchanged. The stock’s market capitalization is $3.36 billion. The firm’s 50 day moving average is $22.06 and its 200-day moving average is $20.05. Nutanix has a 1-year low of $14.38 and a 1-year high of $46.78. Nutanix also was the target of unusually large options trading activity on Monday. Investors bought 10,474 call options on the stock. This is an increase of approximately 421% compared to the typical daily volume of 2,010 call options.
A number of research firms have commented on NTNX. Robert W. Baird reaffirmed a “buy” rating and set a $28.00 target price on shares of Nutanix in a report on Friday, September 1st. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and set a $21.00 target price (up previously from $19.00) on shares of Nutanix in a report on Sunday. Pacific Crest reaffirmed an “overweight” rating and set a $30.00 target price on shares of Nutanix in a report on Monday, July 3rd. Bank of America Corporation reaffirmed a “buy” rating and set a $27.00 target price on shares of Nutanix in a report on Tuesday, May 30th. Finally, KeyCorp reaffirmed a “buy” rating and set a $32.00 target price on shares of Nutanix in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $30.96.
In other Nutanix news, CFO Duston Williams sold 80,244 shares of Nutanix stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $17.23, for a total value of $1,382,604.12. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Rajiv Mirani sold 4,600 shares of Nutanix stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $20.02, for a total transaction of $92,092.00. Following the completion of the sale, the senior vice president now directly owns 255,600 shares in the company, valued at approximately $5,117,112. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,216,967 shares of company stock worth $46,693,393.
Hedge funds have recently made changes to their positions in the business. Legal & General Group Plc raised its position in Nutanix by 3,147.6% in the second quarter. Legal & General Group Plc now owns 8,801 shares of the technology company’s stock worth $175,000 after acquiring an additional 8,530 shares during the period. SG Americas Securities LLC bought a new stake in Nutanix in the second quarter worth about $186,000. First American Bank bought a new stake in Nutanix in the second quarter worth about $205,000. PNC Financial Services Group Inc. bought a new stake in Nutanix in the second quarter worth about $208,000. Finally, Oppenheimer & Co. Inc. bought a new stake in Nutanix in the first quarter worth about $211,000. 32.20% of the stock is currently owned by institutional investors and hedge funds.
Nutanix Company Profile
Nutanix, Inc is a United States-based company, which provides an enterprise cloud platform that converges silos of server, virtualization and storage into an integrated solution. The Company’s enterprise cloud platform connects to public cloud services. It has operations in the United States; Europe, the Middle East and Africa; Asia-Pacific, and Other Americas.
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