Short Interest in Nutanix (NASDAQ:NTNX) Declines By 15.2%

Nutanix (NASDAQ:NTNX) was the recipient of a large decrease in short interest in the month of April. As of April 15th, there was short interest totaling 10,654,482 shares, a decrease of 15.2% from the March 31st total of 12,560,601 shares. Based on an average daily volume of 3,812,755 shares, the days-to-cover ratio is presently 2.8 days. Currently, 4.1% of the shares of the company are sold short.

Nutanix Stock Up 4.2%

Shares of NTNX stock traded up $1.73 during mid-day trading on Friday, reaching $42.62. The stock had a trading volume of 2,092,829 shares, compared to its average volume of 4,413,834. The firm’s 50 day simple moving average is $39.48 and its 200 day simple moving average is $48.67. Nutanix has a one year low of $34.01 and a one year high of $83.36. The firm has a market cap of $11.30 billion, a PE ratio of 46.32, a P/E/G ratio of 4.69 and a beta of 0.52.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings data on Wednesday, February 25th. The technology company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.12. Nutanix had a negative return on equity of 37.41% and a net margin of 9.95%.The company had revenue of $722.83 million during the quarter, compared to the consensus estimate of $709.83 million. During the same quarter last year, the company earned $0.47 EPS. The company’s quarterly revenue was up 10.4% on a year-over-year basis. Sell-side analysts forecast that Nutanix will post 0.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NTNX. Weiss Ratings restated a “hold (c)” rating on shares of Nutanix in a research note on Friday, March 27th. JPMorgan Chase & Co. restated a “neutral” rating and set a $44.00 target price on shares of Nutanix in a research note on Friday, April 10th. Wall Street Zen downgraded Nutanix from a “buy” rating to a “hold” rating in a research note on Tuesday, March 10th. UBS Group increased 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. Finally, Bank of America decreased their target price on Nutanix from $75.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. One 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. According to data from MarketBeat.com, Nutanix currently has an average rating of “Moderate Buy” and a consensus price target of $60.87.

Institutional Trading of Nutanix

A number of hedge funds have recently modified their holdings of NTNX. New Millennium Group LLC bought a new stake in shares of Nutanix in the 4th quarter worth approximately $28,000. V Square Quantitative Management LLC bought a new stake in shares of Nutanix in the 4th quarter worth approximately $39,000. Covestor Ltd lifted its position in shares of Nutanix by 73.1% in the 4th quarter. Covestor Ltd now owns 767 shares of the technology company’s stock worth $40,000 after acquiring an additional 324 shares during the period. Harbour Investments Inc. lifted its position in shares of Nutanix by 159.4% in the 4th quarter. Harbour Investments Inc. now owns 817 shares of the technology company’s stock worth $42,000 after acquiring an additional 502 shares during the period. Finally, GW&K Investment Management LLC lifted its position in shares of Nutanix by 78.7% in the 4th quarter. GW&K Investment Management LLC now owns 981 shares of the technology company’s stock worth $51,000 after acquiring an additional 432 shares during the period. Institutional investors own 85.25% of the company’s stock.

About Nutanix

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.