Insider Selling: Nimble Storage VP Sells 4,168 Shares of Stock (NMBL)
Nimble Storage (NASDAQ:NMBL) VP Varun Mehta unloaded 4,168 shares of Nimble Storage stock on the open market in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $30.31, for a total value of $126,332.08. Following the sale, the vice president now directly owns 4,627,332 shares in the company, valued at approximately $140,254,433. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
A number of research firms have recently commented on NMBL. Analysts at Wunderlich initiated coverage on shares of Nimble Storage in a research note on Thursday, June 26th. 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 research analyst has rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $39.07.
Shares of Nimble Storage (NASDAQ:NMBL) traded down 2.80% on Monday, hitting $28.78. 747,465 shares of the company’s stock traded hands. Nimble Storage has a one year low of $19.17 and a one year high of $58.00. The stock has a 50-day moving average of $27. and a 200-day moving average of $36.30. The company’s market cap is $2.057 billion.
Nimble Storage (NASDAQ:NMBL) last announced its earnings results 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.
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.