SAN JOSE — Shares in cloud company Nutanix soared on its first day of trading. The company’s stock trades under the symbol NTNX and were priced at $16 per share on the Nasdaq Stock Exchange.
Nutanix first traded at $26.50 and went as high as $39.40 per share before closing the day at $37, for a gain of $21.
The company develops a cloud platform that is utilized by datacenters for their power and efficiency. The Nutanix Enterprise Cloud Platform leverages Intel x86-based servers and hyperconvergence to natively integrate compute, storage and virtualization in scale-out clusters.
Investors in the company include Fidelity Investments, Wellington Management, Khosla Ventures, Lightspeed Venture Partners, Riverwood Capital, Battery Ventures, Morgan Stanley, Goldman Sachs, Greenspring Associates and Blumberg Capital.
Nutanix is based in San Jose and was founded by CEO Dheeraj Pandey. The company has over 1,800 employees.
“Seven years ago, Nutanix set out to raise the bar for enterprise infrastructure by rethinking storage and computing for a virtualized world,” said Dheeraj Pandey, CEO and Chairman, Nutanix. “We are excited to partner with Nasdaq, an exchange known for its dedicated effort in technology innovation. Today’s listing marks an important milestone on our journey as we continue to revolutionize the next generation IT infrastructure and computing that will help our customers realize the full potential of the Enterprise Cloud.”