Insider Selling: Nimble Storage CTO Sells 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 30th. The stock was sold at an average price of $26.52, for a total transaction of $848,640.00. Following the completion of the transaction, the chief technology officer now directly owns 4,951,078 shares of the company’s stock, valued at approximately $131,302,589. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
NMBL has been the subject of a number of recent research reports. Analysts at Pacific Crest raised their price target on shares of Nimble Storage from $42.00 to $44.00 in a research note on Monday, July 21st. Separately, analysts at Roth Capital initiated coverage on shares of Nimble Storage in a research note on Friday, July 18th. They set a “buy” rating and a $40.00 price target on the stock. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $39.27.
Shares of Nimble Storage (NASDAQ:NMBL) traded down 2.89% during mid-day trading on Thursday, hitting $25.88. The stock had a trading volume of 594,915 shares. Nimble Storage has a 52-week low of $19.17 and a 52-week high of $58.00. The stock’s 50-day moving average is $27.9 and its 200-day moving average is $34.57. The company’s market cap is $1.850 billion.
Nimble Storage (NASDAQ:NMBL) last released its 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. Analysts expect that Nimble Storage will post $-0.59 EPS 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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