The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Nutanix Inc shares valued at $1,508,862 were sold by RAMASWAMI RAJIV on Mar 18 ’24. At $63.05 per share, RAMASWAMI RAJIV sold 23,932 shares. The insider’s holdings dropped to 373,024 shares worth approximately $23.31 million following the completion of this transaction.
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Also, Sangster David sold 12,545 shares, netting a total of over 790,854 in proceeds. Following the sale of shares at $63.04 each, the insider now holds 70,192 shares.
Before that, GOMO STEVEN J had sold 25,000 shares from its account. In a trade valued at $1,602,715, the Director traded Nutanix Inc shares for $64.11 each. Upon closing the transaction, the insider’s holdings decreased to 25,000 shares, worth approximately $0.25 million.
As published in a research note from William Blair on January 17, 2024, Nutanix Inc [NTNX] has been rated up from a Mkt perform to an Outperform. Analysts at Needham resumed the stock at ‘”a Buy”‘ outlook in a report released in late November. As of September 21, 2023, BofA Securities has increased its “Neutral” rating to a “Buy” for NTNX. Earlier on October 11, 2022, Cleveland Research upgraded its rating. Their new recommendation was “a Buy” for NTNX stock which previously was a “a Neutral”.
Analyzing NTNX Stock Performance
During the last five days, there has been a drop of approximately -2.11%. Over the course of the year, Nutanix Inc shares have jumped approximately 31.01%. Shares of the company reached a 52-week high of $66.99 on 03/08/24 and a 52-week low of $44.50 on 01/05/24. A 50-day SMA is recorded $58.51, while a 200-day SMA reached $41.22. Nevertheless, trading volume fell to 3.3 million shares from 2.61 million shares the previous day.
Support And Resistance Levels for Nutanix Inc (NTNX)
According to the 24-hour chart, there is a support level at 61.63, which, if violated, would cause prices to drop to 60.77. In the upper region, resistance lies at 63.42. The next price resistance is at 64.35. RSI (Relative Strength Index) is 53.33 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.47, which suggests the price will decrease in the coming days. Percent R is at 77.09%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Nutanix Inc subject to short interest?
Stocks of Nutanix Inc saw a sharp rise in short interest on Feb 29, 2024 jumping by 0.47 million shares to 6.81 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 6.34 million shares. A jump of 6.9% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.39 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.39.
