Published On: Thu, Sep 15th, 2016

Insider Selling: Nimble Storage Inc. (NMBL) CEO Sells 22,773 Shares of Stock

Nimble Storage Inc. (NYSE:NMBL) CEO Suresh Vasudevan sold 22,773 shares of the company’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $7.76, for a total value of $176,718.48. Following the completion of the transaction, the chief executive officer now directly owns 1,048,972 shares in the company, valued at $8,140,022.72. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Nimble Storage Inc. (NYSE:NMBL) opened at 7.79 on Thursday. The stock has a 50 day moving average price of $8.07 and a 200-day moving average price of $7.79. Nimble Storage Inc. has a one year low of $5.64 and a one year high of $26.52. The firm’s market capitalization is $658.11 million.
Nimble Storage (NYSE:NMBL) last released its earnings results on Tuesday, August 23rd. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.01. The business had revenue of $97.10 million for the quarter, compared to the consensus estimate of $94.71 million. Nimble Storage had a negative return on equity of 97.66% and a negative net margin of 40.53%. Nimble Storage’s quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.10) earnings per share. On average, equities analysts forecast that Nimble Storage Inc. will post ($0.72) earnings per share for the current year.

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A number of brokerages have recently commented on NMBL. Summit Redstone reissued a “buy” rating on shares of Nimble Storage in a report on Sunday, June 26th. Maxim Group lowered their price objective on Nimble Storage from $14.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, May 23rd. Jefferies Group reissued a “buy” rating on shares of Nimble Storage in a report on Wednesday, May 25th. Needham & Company LLC reissued a “buy” rating and set a $12.00 price objective on shares of Nimble Storage in a report on Thursday, May 26th. Finally, BMO Capital Markets increased their price objective on Nimble Storage from $10.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, August 24th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $15.66.
Several hedge funds have recently added to or reduced their stakes in the stock. Sterling Ridge Capital Management LP bought a new stake in Nimble Storage during the first quarter worth about $505,000. Granahan Investment Management Inc. MA increased its stake in Nimble Storage by 76.2% in the first quarter. Granahan Investment Management Inc. MA now owns 655,364 shares of the company’s stock worth $5,138,000 after buying an additional 283,360 shares in the last quarter. Disciplined Growth Investors Inc. MN bought a new stake in Nimble Storage during the first quarter worth about $5,895,000. State Street Corp increased its stake in Nimble Storage by 0.3% in the first quarter. State Street Corp now owns 791,439 shares of the company’s stock worth $6,205,000 after buying an additional 2,717 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC increased its stake in Nimble Storage by 107.9% in the first quarter. Quantitative Systematic Strategies LLC now owns 103,166 shares of the company’s stock worth $758,000 after buying an additional 53,532 shares in the last quarter. 61.88% of the stock is currently owned by institutional investors and hedge funds.
About Nimble Storage
Nimble Storage, Inc (Nimble Storage) engineers and delivers its customers with flash storage platform. The Company’s Predictive Flash platform consists of a Unified Flash Fabric that provides a single consolidation architecture with common data services across a portfolio of All Flash and Adaptive Flash arrays, and InfoSight predictive analytics with integrated support and service offerings.

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