Converged data center hardware company Nutanix today had its first day of trading on the stock market, and its stock closed at $37 per share, up 131 percent from the $16 share price at which it sold more than 14 million shares in its initial public offering (IPO).
Nutanix stock started trading this morning at $26.50 on the Nasdaq Global Select Market. The closing price of $37 was 39.6 percent higher than that.
Generally speaking, during its first day of trading, the stock went up. The high for the day was $39.40.
Nutanix ended the day with a market cap of approximately $5 billion.
Based in San Jose, California, Nutanix started in 2009. As the company has challenged incumbents that sell individually packaged servers and storage gear, Nutanix has also found itself competing with virtualization company VMware and its vSAN offering.