Insider Selling: Umesh Maheshwari Sells 16,000 Shares of Nimble Storage Stock (NMBL)
Nimble Storage (NASDAQ:NMBL) CTO Umesh Maheshwari sold 16,000 shares of the stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $30.50, for a total transaction of $488,000.00. Following the completion of the transaction, the chief technology officer now directly owns 5,107,078 shares of the company’s stock, valued at approximately $155,765,879. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Nimble Storage (NASDAQ:NMBL) traded down 2.80% on Thursday, hitting $29.84. 2,158,572 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 $25.27 and a 200-day moving average of $36.78. The company’s market cap is $2.133 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. On average, analysts predict that Nimble Storage will post $-0.59 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on NMBL shares. Analysts at Morgan Stanley upgraded shares of Nimble Storage from an “equal weight” rating to an “overweight” rating in a research note on Wednesday. They now have a $38.00 price target on the stock. Separately, analysts at Macquarie upgraded shares of Nimble Storage from a “neutral” rating to an “outperform” rating in a research note on Monday. Finally, 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, June 13th. They now have a $33.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $39.07.
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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