Nutanix (NASDAQ:NTNX) Posts Quarterly Earnings Results, Misses Estimates By $0.23 EPS

Nutanix (NASDAQ:NTNX) posted its earnings results on Wednesday. The technology company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.23), Zacks reports. Nutanix had a negative return on equity of 12.28% and a negative net margin of 3.54%.

Nutanix Trading Up 3.6 %

NASDAQ NTNX traded up $2.43 on Wednesday, hitting $69.35. 3,650,680 shares of the company’s stock were exchanged, compared to its average volume of 1,889,981. The stock has a 50-day moving average of $66.37 and a 200-day moving average of $63.88. The stock has a market cap of $18.58 billion, a price-to-earnings ratio of -198.14, a P/E/G ratio of 11.80 and a beta of 1.17. Nutanix has a 52 week low of $43.35 and a 52 week high of $75.80.

Insider Transactions at Nutanix

In related news, CEO Rajiv Ramaswami sold 95,852 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $70.00, for a total transaction of $6,709,640.00. Following the completion of the sale, the chief executive officer now owns 540,463 shares of the company’s stock, valued at $37,832,410. This trade represents a 15.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Virginia Gambale sold 6,060 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $64.73, for a total value of $392,263.80. Following the completion of the transaction, the director now directly owns 45,330 shares in the company, valued at approximately $2,934,210.90. This trade represents a 11.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 177,917 shares of company stock valued at $12,114,781. Corporate insiders own 6.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Barclays increased their target price on Nutanix from $75.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Northland Securities reaffirmed a “market perform” rating and set a $77.00 price objective (up from $74.00) on shares of Nutanix in a research report on Wednesday, November 27th. Wells Fargo & Company raised their target price on shares of Nutanix from $60.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. Piper Sandler raised their price objective on Nutanix from $77.00 to $83.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Finally, Raymond James dropped their target price on Nutanix from $83.00 to $76.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Nutanix has an average rating of “Moderate Buy” and an average price target of $79.50.

About Nutanix

Nutanix, Inc engages in the provision of a cloud platform leveraging web-scale engineering and consumer-grade design. It operates through the following geographic segments: United States, Europe, the Middle East, Africa, Asia Pacific, and Other Americas. The firm also provides software solutions and cloud services to customers’ enterprise infrastructure.