Nimble Storage Inc. (NMBL) Announces Quarterly Earnings Results
Nimble Storage Inc. (NYSE:NMBL) announced its quarterly earnings data on Tuesday. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.18). Nimble Storage had a negative return on equity of 97.66% and a negative net margin of 40.53%. The firm had revenue of $102 million for the quarter, compared to analysts’ expectations of $101.99 million. During the same quarter in the prior year, the firm posted ($0.14) earnings per share. Nimble Storage’s revenue for the quarter was up 26.4% compared to the same quarter last year. Nimble Storage updated its Q4 guidance to ($0.13)-(0.15) EPS.
Shares of Nimble Storage (NYSE:NMBL) opened at 9.24 on Wednesday. The firm’s market cap is $786.31 million. The stock has a 50 day moving average price of $8.23 and a 200 day moving average price of $8.00. Nimble Storage has a 12 month low of $5.64 and a 12 month high of $11.33.
Several analysts have issued reports on NMBL shares. Zacks Investment Research cut Nimble Storage from a “hold” rating to a “sell” rating in a research note on Saturday, August 27th. Wells Fargo & Co. reiterated a “market perform” rating and set a $9.50 price target (up from $7.50) on shares of Nimble Storage in a research report on Thursday, August 25th. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Nimble Storage in a research report on Saturday, October 1st. Summit Redstone reiterated a “buy” rating and set a $14.00 price target (up from $12.00) on shares of Nimble Storage in a research report on Thursday, August 25th. Finally, Piper Jaffray Cos. reiterated a “neutral” rating and set a $9.00 price target on shares of Nimble Storage in a research report on Thursday, August 25th. Fourteen research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $11.99.
In related news, Director Ping Li sold 23,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of $8.62, for a total value of $198,260.00. Following the completion of the transaction, the director now owns 35,676 shares in the company, valued at approximately $307,527.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William John Schroeder acquired 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 21st. The stock was bought at an average price of $7.30 per share, with a total value of $36,500.00. Following the transaction, the director now directly owns 46,870 shares in the company, valued at $342,151. The disclosure for this purchase can be found here. 20.90% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its position in Nimble Storage by 111.8% in the first quarter. Renaissance Technologies LLC now owns 2,849,300 shares of the company’s stock valued at $22,339,000 after buying an additional 1,504,300 shares during the period. Quantum Capital Management acquired a new stake in shares of Nimble Storage during the first quarter valued at approximately $105,000. Boulegeris Investments Inc. boosted its stake in shares of Nimble Storage by 21.2% in the second quarter. Boulegeris Investments Inc. now owns 132,361 shares of the company’s stock valued at $1,054,000 after buying an additional 23,186 shares during the last quarter. NN Investment Partners Holdings N.V. acquired a new stake in shares of Nimble Storage during the second quarter valued at approximately $559,000. Finally, CIBC World Markets Inc. boosted its stake in shares of 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. Hedge funds and other institutional investors own 59.94% of the company’s stock.
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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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