Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Nutanix Inc shares valued at $3,434,765 were sold by Sivaraman Rukmini on Apr 10 ’24. At $64.77 per share, Sivaraman Rukmini sold 53,029 shares. The insider’s holdings dropped to 144,635 shares worth approximately $10.39 million following the completion of this transaction.
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Also, Wall Tyler sold 15,000 shares, netting a total of over 933,687 in proceeds. Following the sale of shares at $62.25 each, the insider now holds 13,168 shares.
Before that, RAMASWAMI RAJIV had sold 23,932 shares from its account. In a trade valued at $1,508,862, the President and CEO traded Nutanix Inc shares for $63.05 each. Upon closing the transaction, the insider’s holdings decreased to 23,932 shares, worth approximately $26.81 million.
As published in a research note from Raymond James on May 08, 2024, Nutanix Inc [NTNX] has been rated up from a Mkt perform to an Outperform and the price target has been revised to $72. Analysts at William Blair upgraded the stock from ‘”a Mkt perform”‘ to ‘”an Outperform”‘ outlook in a report released in mid January. As of November 30, 2023, Needham has reiterated its “Buy” rating for NTNX. Earlier on September 21, 2023, BofA Securities 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 surge of approximately 4.13%. Over the course of the year, Nutanix Inc shares have jumped approximately 50.68%. Shares of the company reached a 52-week high of $73.69 on 05/21/24 and a 52-week low of $44.50 on 01/05/24. A 50-day SMA is recorded $64.09, while a 200-day SMA reached $48.81. Nevertheless, trading volume fell to 2.18 million shares from 2.38 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 70.81, which, if violated, would cause prices to drop to 69.75. In the upper region, resistance lies at 73.22. The next price resistance is at 74.57. RSI (Relative Strength Index) is 68.32 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 4.43, which suggests the price will increase in the coming days. Percent R is at 15.94%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
