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Taking a look at what insiders are doing to gauge the Nutanix Inc (NTNX)’s direction

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Nutanix Inc shares valued at $1,299,738 were sold by RAMASWAMI RAJIV on Jun 18 ’24. At $54.19 per share, RAMASWAMI RAJIV sold 23,986 shares. The insider’s holdings dropped to 407,045 shares worth approximately $24.41 million following the completion of this transaction.

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Also, Sivaraman Rukmini sold 12,566 shares, netting a total of over 668,788 in proceeds. Following the sale of shares at $53.22 each, the insider now holds 144,902 shares.

Before that, Sangster David had sold 10,384 shares from its account. In a trade valued at $562,660, the Chief Operating Officer traded Nutanix Inc shares for $54.19 each. Upon closing the transaction, the insider’s holdings decreased to 10,384 shares, worth approximately $3.86 million.

As published in a research note from Northland Capital on May 30, 2024, Nutanix Inc [NTNX] has been rated down from an Outperform to a Market perform and the price target has been revised to $71. Analysts at Raymond James upgraded the stock from ‘”a Mkt perform”‘ to ‘”an Outperform”‘ outlook in a report released in early May. As of January 17, 2024, William Blair has increased its “Mkt perform” rating to a “an Outperform” for NTNX. Earlier on November 30, 2023, Needham resumed its rating. Their recommendation was “a Buy” for NTNX stock.

Analyzing NTNX Stock Performance

During the last five days, there has been a surge of approximately 9.09%. Over the course of the year, Nutanix Inc shares have jumped approximately 25.77%. 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 $60.87, while a 200-day SMA reached $52.29. Nevertheless, trading volume fell to 1.46 million shares from 3.14 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 58.10, which, if violated, would cause prices to drop to 57.58. In the upper region, resistance lies at 59.50. The next price resistance is at 60.37. RSI (Relative Strength Index) is 57.56 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 4.04, which suggests the price will increase in the coming days. Percent R is at 23.56%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

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