Insider Selling: Peter Nieh Sells 10,000 Shares of Nimble Storage Stock (NMBL)
Nimble Storage (NASDAQ:NMBL) major shareholder Peter Nieh sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $30.09, for a total transaction of $300,900.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Nimble Storage (NASDAQ:NMBL) traded down 1.49% during mid-day trading on Thursday, hitting $29.77. 1,287,691 shares of the company’s stock traded hands. Nimble Storage has a 52 week low of $19.17 and a 52 week high of $58.00. The stock has a 50-day moving average of $26.04 and a 200-day moving average of $36.58. The company’s market cap is $2.128 billion.
Nimble Storage (NASDAQ:NMBL) last issued its quarterly earnings data on Thursday, May 29th. The company reported ($0.14) EPS for the quarter, beating the Thomson Reuters 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 quarterly revenue 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.
Several analysts have recently commented on the stock. Analysts at Wunderlich initiated coverage on shares of Nimble Storage in a research note on Thursday. They set a “buy” rating and a $38.00 price target on the stock. Separately, analysts at Morgan Stanley upgraded shares of Nimble Storage from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, June 18th. They now have a $38.00 price target on the stock. Finally, analysts at Macquarie upgraded shares of Nimble Storage from a “neutral” rating to an “outperform” rating in a research note on Monday, June 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target 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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