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

Nutanix (NASDAQ:NTNX) was the target of unusually large options trading on Tuesday. Investors purchased 9,406 call options on the stock. This is an increase of approximately 234% compared to the typical daily volume of 2,815 call options.

Nutanix Price Performance

NASDAQ:NTNX traded down $0.88 during mid-day trading on Tuesday, hitting $44.28. 1,578,472 shares of the company’s stock were exchanged, compared to its average volume of 4,326,730. Nutanix has a one year low of $34.01 and a one year high of $83.36. The business has a fifty day moving average price of $40.08 and a 200 day moving average price of $47.58. The company has a market cap of $11.74 billion, a PE ratio of 48.18, a P/E/G ratio of 5.14 and a beta of 0.54.

Nutanix (NASDAQ:NTNX) last issued its earnings results on Wednesday, February 25th. The technology company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.12. Nutanix had a net margin of 9.95% and a negative return on equity of 37.41%. The business had revenue of $722.83 million during the quarter, compared to analysts’ expectations of $709.83 million. During the same period in the previous year, the company earned $0.47 earnings per share. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. On average, equities analysts forecast that Nutanix will post 0.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on NTNX shares. Wells Fargo & Company lowered their target price on Nutanix from $57.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 26th. Piper Sandler reduced their price target on Nutanix from $72.00 to $63.00 and set an “overweight” rating for the company in a report on Thursday, February 26th. Wall Street Zen downgraded shares of Nutanix from a “buy” rating to a “hold” rating in a research report on Tuesday, March 10th. Bank of America decreased their target price on shares of Nutanix from $75.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $44.00 price objective on shares of Nutanix in a research report on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.87.

Institutional Trading of Nutanix

A number of institutional investors have recently modified their holdings of the company. AQR Capital Management LLC grew its stake in Nutanix by 72.8% in the 4th quarter. AQR Capital Management LLC now owns 11,452,714 shares of the technology company’s stock valued at $591,991,000 after acquiring an additional 4,826,443 shares during the period. Norges Bank acquired a new stake in Nutanix during the fourth quarter worth approximately $187,169,000. FIL Ltd raised its holdings in Nutanix by 180.1% during the fourth quarter. FIL Ltd now owns 4,333,937 shares of the technology company’s stock worth $224,021,000 after purchasing an additional 2,786,929 shares in the last quarter. Alyeska Investment Group L.P. raised its holdings in Nutanix by 926.8% during the fourth quarter. Alyeska Investment Group L.P. now owns 2,687,387 shares of the technology company’s stock worth $138,911,000 after purchasing an additional 2,425,665 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Nutanix by 592.3% during the fourth quarter. Victory Capital Management Inc. now owns 1,601,351 shares of the technology company’s stock worth $82,774,000 after purchasing an additional 1,370,047 shares in the last quarter. 85.25% of the stock is currently owned by institutional investors.

Nutanix Company Profile

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.