Insider Selling: Umesh Maheshwari Unloads 48,000 Shares of Nimble Storage Stock (NMBL)
Nimble Storage (NASDAQ:NMBL) CTO Umesh Maheshwari sold 48,000 shares of the stock on the open market in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $29.37, for a total value of $1,409,760.00. Following the completion of the transaction, the chief technology officer now directly owns 5,071,078 shares in the company, valued at approximately $148,937,561. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Nimble Storage (NASDAQ:NMBL) traded down 1.49% on Thursday, hitting $29.77. 1,287,691 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 $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) earnings per share for the quarter, beating the analysts’ 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. Nimble Storage’s revenue was up 110.4% compared to the same quarter last year. 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 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 company. The stock presently has a consensus rating of “Buy” and an average 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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