Retirement Systems of Alabama Increases Position in Nimble Storage Inc. (NMBL)
Retirement Systems of Alabama increased its position in shares of Nimble Storage Inc. (NYSE:NMBL) by 5.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,590,000 shares of the company’s stock after buying an additional 75,000 shares during the period. Retirement Systems of Alabama owned about 1.89% of Nimble Storage worth $12,656,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the stock. Renaissance Technologies LLC increased its position in shares of Nimble Storage by 111.8% in the first quarter. Renaissance Technologies LLC now owns 2,849,300 shares of the company’s stock worth $22,339,000 after buying an additional 1,504,300 shares during the last quarter. Quentec Asset Management LLC increased its position in shares of Nimble Storage by 66.4% in the first quarter. Quentec Asset Management LLC now owns 1,048,122 shares of the company’s stock worth $8,217,000 after buying an additional 418,122 shares during the last quarter. State Street Corp increased its position in shares of 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 during the last quarter. Granahan Investment Management Inc. MA increased its position in shares of 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 during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Nimble Storage by 7.6% in the first quarter. Geode Capital Management LLC now owns 355,917 shares of the company’s stock worth $2,790,000 after buying an additional 25,192 shares during the last quarter. Institutional investors own 61.23% of the company’s stock.
Nimble Storage Inc. (NYSE:NMBL) traded down 3.28% during midday trading on Monday, hitting $8.54. 1,252,754 shares of the company traded hands. The stock’s 50-day moving average is $8.18 and its 200-day moving average is $7.83. Nimble Storage Inc. has a 12-month low of $5.64 and a 12-month high of $24.17. The firm’s market capitalization is $726.75 million.
Nimble Storage (NYSE:NMBL) last announced its quarterly earnings data on Tuesday, August 23rd. The company reported ($0.19) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.01. Nimble Storage had a negative net margin of 40.53% and a negative return on equity of 97.66%. The business had revenue of $97.10 million for the quarter, compared to analyst estimates of $94.71 million. During the same period in the prior year, the business posted ($0.10) earnings per share. Nimble Storage’s revenue was up 21.2% compared to the same quarter last year. Analysts anticipate that Nimble Storage Inc. will post ($0.72) EPS for the current fiscal year.
A number of research firms have recently weighed in on NMBL. Summit Redstone reaffirmed a “buy” rating on shares of Nimble Storage in a report on Sunday, June 26th. Zacks Investment Research cut Nimble Storage from a “hold” rating to a “sell” rating in a report on Saturday, August 27th. Wells Fargo & Co. reaffirmed a “market perform” rating and set a $9.50 price target (up previously from $7.50) on shares of Nimble Storage in a report on Thursday, August 25th. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Nimble Storage in a report on Saturday. Finally, Piper Jaffray Cos. reaffirmed a “neutral” rating and set a $9.00 price target on shares of Nimble Storage in a report on Thursday, August 25th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $14.99.
In related news, CEO Suresh Vasudevan sold 22,773 shares of the stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $7.76, for a total value of $176,718.48. Following 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Anup V. Singh sold 16,479 shares of the stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $7.72, for a total transaction of $127,217.88. Following the completion of the transaction, the chief financial officer now owns 286,131 shares in the company, valued at $2,208,931.32. The disclosure for this sale can be found here. 20.90% of the stock is currently owned by corporate insiders.
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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