Insider Selling: Suresh Vasudevan Unloads 183,649 Shares of Nimble Storage Stock (NMBL)
Nimble Storage (NASDAQ:NMBL) CEO Suresh Vasudevan sold 183,649 shares of Nimble Storage stock on the open market in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $30.42, for a total value of $5,586,602.58. Following the completion of the sale, the chief executive officer now directly owns 707,517 shares of the company’s stock, valued at approximately $21,522,667. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Nimble Storage (NASDAQ:NMBL) traded down 1.99% during mid-day trading on Friday, hitting $27.04. The stock had a trading volume of 790,684 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 $27.1 and its 200-day moving average is $32.15. The company’s market cap is $1.933 billion.
Nimble Storage (NASDAQ:NMBL) last posted its quarterly earnings results on Tuesday, August 26th. The company reported ($0.15) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.16) by $0.01. The company had revenue of $53.80 million for the quarter, compared to the consensus estimate of $50.54 million. During the same quarter in the prior year, the company posted ($0.51) earnings per share. The company’s quarterly revenue was up 86.9% on a year-over-year basis. Analysts expect that Nimble Storage will post $-0.59 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Raymond James raised their price target on shares of Nimble Storage from $33.00 to $35.00 in a research note on Wednesday. Separately, analysts at Barclays raised their price target on shares of Nimble Storage from $28.00 to $30.00 in a research note on Wednesday. They now have an “equal weight” rating on the stock. Finally, analysts at Needham & Company LLC raised their price target on shares of Nimble Storage from $35.00 to $36.00 in a research note on Wednesday. They now have a “strong-buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $39.19.
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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