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, September 3rd. The stock was sold at an average price of $27.26, for a total transaction of $872,320.00. Following the completion of the sale, the chief technology officer now directly owns 4,831,078 shares of the company’s stock, valued at approximately $131,695,186. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Nimble Storage (NASDAQ:NMBL) traded down 0.19% during mid-day trading on Thursday, hitting $26.81. The stock had a trading volume of 466,778 shares. Nimble Storage has a 1-year low of $19.17 and a 1-year high of $58.00. The stock has a 50-day moving average of $27.26 and a 200-day moving average of $31.61. The company’s market cap is $1.916 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, August 27th. 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, August 27th. 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, August 27th. They now have a “strong-buy” rating on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Nimble Storage has a consensus rating of “Buy” and a consensus price target 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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