Nimble Storage Inc. (NMBL) Stake Increased by Polar Capital LLP
Polar Capital LLP raised its stake in Nimble Storage Inc. (NYSE:NMBL) by 22.9% during the second quarter, according to its most recent filing with the SEC. The fund owned 2,394,557 shares of the company’s stock after buying an additional 446,236 shares during the period. Polar Capital LLP owned 2.84% of Nimble Storage worth $19,050,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Quantum Capital Management acquired a new stake in Nimble Storage during the first quarter valued at about $105,000. TFS Capital LLC acquired a new stake in Nimble Storage during the second quarter valued at about $105,000. Stevens Capital Management LP acquired a new stake in Nimble Storage during the second quarter valued at about $117,000. Raymond James & Associates boosted its stake in Nimble Storage by 37.3% in the second quarter. Raymond James & Associates now owns 15,853 shares of the company’s stock valued at $126,000 after buying an additional 4,306 shares during the last quarter. Finally, CIBC World Markets Inc. boosted its stake in Nimble Storage by 13.5% in the second quarter. CIBC World Markets Inc. now owns 17,250 shares of the company’s stock valued at $137,000 after buying an additional 2,050 shares during the last quarter. 61.44% of the stock is currently owned by institutional investors.
Shares of Nimble Storage Inc. (NYSE:NMBL) traded up 3.44% during midday trading on Friday, hitting $8.41. 1,113,311 shares of the stock were exchanged. The firm’s 50-day moving average is $8.10 and its 200-day moving average is $7.90. The stock’s market cap is $715.68 million. Nimble Storage Inc. has a 12 month low of $5.64 and a 12 month high of $21.07.
Nimble Storage (NYSE:NMBL) last posted its earnings results on Tuesday, August 23rd. The company reported ($0.19) EPS for the quarter, beating the Zacks’ 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 company earned $97.10 million during the quarter, compared to analysts’ expectations of $94.71 million. During the same quarter in the prior year, the company posted ($0.10) earnings per share. Nimble Storage’s revenue for the quarter was up 21.2% compared to the same quarter last year. Equities research analysts predict that Nimble Storage Inc. will post ($0.73) earnings per share for the current year.
Several analysts recently issued reports on NMBL shares. Summit Redstone reissued a “buy” rating and issued a $14.00 target price (up from $12.00) on shares of Nimble Storage in a research note on Thursday, August 25th. BMO Capital Markets raised their price objective on shares of Nimble Storage from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, August 24th. Needham & Company LLC restated a “buy” rating and issued a $12.00 price objective on shares of Nimble Storage in a report on Thursday, August 25th. Jefferies Group raised their price objective on shares of Nimble Storage from $13.50 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, August 24th. Finally, Barclays PLC restated an “equal weight” rating and issued a $10.00 price objective (up from $9.00) on shares of Nimble Storage in a report on Wednesday, August 24th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $14.17.
In other news, Director Jerry M. Kennelly sold 5,000 shares of the stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $8.17, for a total value of $40,850.00. Following the sale, the director now owns 38,456 shares in the company, valued at $314,185.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ping Li sold 23,000 shares of the stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $8.62, for a total transaction of $198,260.00. Following the completion of the sale, the director now owns 35,676 shares in the company, valued at approximately $307,527.12. The disclosure for this sale can be found here. Corporate insiders own 20.90% of the company’s stock.
Nimble Storage Company Profile
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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