Insider Selling: Nimble Storage CTO Unloads 32,000 Shares of Stock (NMBL)
Nimble Storage (NASDAQ:NMBL) CTO Umesh Maheshwari sold 32,000 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $26.77, for a total transaction of $856,640.00. Following the sale, the chief technology officer now directly owns 5,023,078 shares in the company, valued at approximately $134,467,798. The sale was disclosed in a filing with the SEC, which is available at this link.
Shares of Nimble Storage (NASDAQ:NMBL) traded down 1.50% during mid-day trading on Thursday, hitting $26.29. 624,491 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 $27.63 and a 200-day moving average of $36.08. The company’s market cap is $1.879 billion.
Nimble Storage (NASDAQ:NMBL) last issued its quarterly 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.
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 equities 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 assigned a strong buy rating to the company’s stock. The stock has an average 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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