Insider Selling: Nimble Storage CTO Sells 26,000 Shares of Stock (NMBL)
Nimble Storage (NASDAQ:NMBL) CTO Umesh Maheshwari sold 26,000 shares of Nimble Storage stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $26.50, for a total value of $689,000.00. Following the transaction, the chief technology officer now directly owns 5,119,078 shares of the company’s stock, valued at approximately $135,655,567. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Nimble Storage (NASDAQ:NMBL) traded up 1.16% during mid-day trading on Tuesday, hitting $27.88. 796,694 shares of the company’s stock traded hands. Nimble Storage has a 1-year low of $19.17 and a 1-year high of $58.00. The stock has a 50-day moving average of $24.9 and a 200-day moving average of $36.88. The company’s market cap is $1.993 billion.
Nimble Storage (NASDAQ:NMBL) last released its earnings data on Thursday, May 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.02. The company had revenue of $46.50 million for the quarter, compared to the consensus estimate of $43.70 million. The company’s revenue for the quarter was up 110.4% on a year-over-year basis. Analysts expect that Nimble Storage will post $-0.58 EPS for the current fiscal year.
A number of research firms have recently commented on NMBL. Analysts at Macquarie upgraded shares of Nimble Storage from a “neutral” rating to an “outperform” rating in a research note on Monday. Separately, analysts at Raymond James upgraded shares of Nimble Storage from a “market perform” rating to a “strong-buy” rating in a research note on Friday. They now have a $33.00 price target on the stock. Finally, analysts at Goldman Sachs reiterated a “buy” rating on shares of Nimble Storage in a research note on Thursday, June 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Nimble Storage presently has a consensus rating of “Buy” and an average target price of $39.15.
Nimble Storage, Inc provides its customers with data storage platform. The Company focuses on research and development of its technology platform, developing new products and enhancing its cloud-based management services.
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