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<p>Nutanix Inc. more than doubled in its trading debut after the software maker raised $238 million in an initial public offering.</p>
<p>The company, which makes software that can store and analyze data on inexpensive, standard servers, surged 131 percent to $37 at the close in New York, giving it a market value of about $5.1 billion.</p></article>

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<p>Nutanix Inc. more than doubled in its trading debut after the software maker raised $238 million in an initial public offering.</p>
<p>The company, which makes software that can store and analyze data on inexpensive, standard servers, surged 131 percent to $37 at the close in New York, giving it a market value of about $5.1 billion.</p>
<p>Nutanix, based in San Jose, California, sold 14.87 million shares for $16 apiece, according to a statement Thursday. The terms reflect both an increased number of shares and a price above the marketed range, which the company boosted this week. It offered 14 million shares for $13 to $15 each, compared with an initial range of $11 to $13 a share.</p>
<p>Following the slowest start to a year for IPOs since the financial crisis, and the fewest U.S. technology IPOs in seven years, a flurry of offerings have come to market in the past few weeks.</p>
<p>Advertising-technology company Trade Desk Inc. raised $96.6 million this month, including an over-allotment. Apptio Inc. sold about $110 million in stock and Everbridge Inc. raised $104 million. All three have gained at least 35 percent since their debuts.</p>
<p>Nutanix posted revenue of about $445 million for the year ended July 31, an 84 percent increase from the previous 12 months, according to its prospectus.</p>
<p>The company hasn’t made a profit in at least the past five years, the prospectus shows. The net loss in fiscal 2016 widened to $168.5 million from $126 million the previous year.</p>
<p>Goldman Sachs Group Inc., Morgan Stanley, JPMorgan Chase &amp; Co. and Royal Bank of Canada managed the deal. The stock is listed on the Nasdaq Stock Market under the symbol NTNX.</p>
<h4><em>Bloomberg</em></h4>
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Nutanix Inc. more than doubled in its trading debut after the software maker raised $238 million in an initial public offering.

Nutanix surges in debut after $238m increased IPO

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Nutanix surges in debut after $238m increased IPO

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