Insider Selling: Nimble Storage Inc. (NMBL) CFO Sells $127,217.88 in Stock
Nimble Storage Inc. (NYSE:NMBL) CFO Anup V. Singh sold 16,479 shares of the business’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $7.72, for a total value of $127,217.88. Following the completion of the sale, the chief financial officer now owns 286,131 shares of the company’s stock, valued at $2,208,931.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Nimble Storage Inc. (NYSE:NMBL) opened at 7.46 on Tuesday. The firm’s market cap is $634.84 million. Nimble Storage Inc. has a 12-month low of $5.64 and a 12-month high of $25.18. The company has a 50 day moving average of $8.07 and a 200-day moving average of $7.79.
Nimble Storage (NYSE:NMBL) last issued its earnings results on Tuesday, August 23rd. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. The company had revenue of $97.10 million for the quarter, compared to analysts’ expectations of $94.71 million. Nimble Storage had a negative net margin of 40.53% and a negative return on equity of 97.66%. The firm’s revenue was up 21.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.10) EPS. Analysts predict that Nimble Storage Inc. will post ($0.72) EPS for the current year.
Several research analysts have commented on the stock. Summit Redstone restated a “buy” rating on shares of Nimble Storage in a research report on Sunday, June 26th. Maxim Group lowered their price objective on shares of Nimble Storage from $14.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, May 23rd. Jefferies Group restated a “buy” rating on shares of Nimble Storage in a research report on Wednesday, May 25th. Needham & Company LLC restated a “buy” rating and set a $12.00 price objective on shares of Nimble Storage in a research report on Thursday, May 26th. Finally, BMO Capital Markets boosted their price objective on shares of Nimble Storage from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, August 24th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $15.66.
A number of institutional investors have recently modified their holdings of NMBL. Quantum Capital Management acquired a new position in shares of Nimble Storage during the first quarter worth approximately $105,000. TFS Capital LLC acquired a new position in shares of Nimble Storage during the second quarter worth approximately $105,000. BlackRock Group LTD boosted its position in shares of Nimble Storage by 53.7% in the first quarter. BlackRock Group LTD now owns 13,811 shares of the company’s stock worth $109,000 after buying an additional 4,828 shares during the last quarter. Stevens Capital Management LP acquired a new position in shares of Nimble Storage during the second quarter worth approximately $117,000. Finally, CIBC World Markets Inc. acquired a new position in shares of Nimble Storage during the first quarter worth approximately $119,000. Institutional investors own 61.88% of the company’s stock.
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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