Insider Selling: Suresh Vasudevan Sells 2,100 Shares of Nimble Storage Stock (NMBL)
Nimble Storage (NASDAQ:NMBL) CEO Suresh Vasudevan sold 2,100 shares of the stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $30.10, for a total value of $63,210.00. Following the transaction, the chief executive officer now directly owns 891,166 shares in the company, valued at approximately $26,824,097. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
NMBL has been the subject of a number of recent research reports. 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 analyst has rated the stock with a sell rating, three have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $39.07.
Nimble Storage (NASDAQ:NMBL) traded down 6.43% on Tuesday, hitting $26.93. The stock had a trading volume of 1,353,855 shares. Nimble Storage has a 1-year low of $19.17 and a 1-year high of $58.00. The stock’s 50-day moving average is $27.57 and its 200-day moving average is $36.22. The company’s market cap is $1.925 billion.
Nimble Storage (NASDAQ:NMBL) last announced its earnings results 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.
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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