Insider Selling: Nimble Storage CTO Sells 32,000 Shares of Stock (NMBL)
Nimble Storage (NASDAQ:NMBL) CTO Umesh Maheshwari unloaded 32,000 shares of the stock on the open market in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $26.67, for a total transaction of $853,440.00. Following the completion of the transaction, the chief technology officer now directly owns 4,903,078 shares in the company, valued at approximately $130,765,090. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Nimble Storage (NASDAQ:NMBL) opened at 26.94 on Monday. 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 $27.14 and a 200-day moving average of $33.17. The company’s market cap is $1.926 billion.
Nimble Storage (NASDAQ:NMBL) last announced its earnings results 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 $-0.58 earnings per share for the current fiscal year.
A number of research firms have recently commented on NMBL. Analysts at Wells Fargo & Co. initiated coverage on shares of Nimble Storage in a research note on Friday, August 8th. They set an “outperform” rating and a $33.00 price target on the stock. Separately, 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. Finally, 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. Nimble Storage currently has a consensus rating of “Buy” and an average target price of $38.88.
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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