Trade Report: Today, Nimble Storage Inc. (NMBL) Stock Rating Reaffirm by Wells Fargo & Co.

Today, Nimble Storage Inc. (NMBL) Stock Rating Reaffirm by Wells Fargo & Co.

Nimble Storage Inc. (NYSE:NMBL)‘s stock had its “outperform” rating reaffirmed by equities researchers at Wells Fargo & Co. in a research note issued to investors on Saturday. They presently have a $10.50 target price on the stock. Wells Fargo & Co.’s target price points to a potential upside of 35.83% from the stock’s previous close.

Other analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Nimble Storage from a “hold” rating to a “sell” rating in a research note on Wednesday, October 26th. Morgan Stanley raised their price objective on shares of Nimble Storage from $6.00 to $18.00 and gave the company an “overweight” rating in a research note on Wednesday, August 24th. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Nimble Storage in a research note on Tuesday. Needham & Company LLC restated a “buy” rating and set a $12.00 price objective on shares of Nimble Storage in a research note on Thursday, August 25th. Finally, Summit Redstone restated a “buy” rating and set a $14.00 price objective (up from $12.00) on shares of Nimble Storage in a research note on Thursday, August 25th. Fourteen equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $11.94.

Shares of Nimble Storage (NYSE:NMBL) opened at 7.73 on Friday. The company’s market cap is $657.82 million. Nimble Storage has a 52-week low of $5.64 and a 52-week high of $11.33. The stock has a 50 day moving average of $8.15 and a 200 day moving average of $8.01.

Nimble Storage (NYSE:NMBL) last issued its quarterly earnings results on Tuesday, November 22nd. The company reported ($0.18) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.18). The company earned $102 million during the quarter, compared to analyst estimates of $101.99 million. Nimble Storage had a negative net margin of 41.08% and a negative return on equity of 109.02%. Nimble Storage’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same period last year, the business earned ($0.14) EPS. On average, equities research analysts expect that Nimble Storage will post ($0.73) EPS for the current year.

In other news, Director Ping Li sold 23,000 shares of Nimble Storage stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of $8.62, for a total transaction of $198,260.00. Following the sale, the director now owns 35,676 shares in the company, valued at $307,527.12. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Anup V. Singh sold 16,479 shares of Nimble Storage 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 sale, the chief financial officer now owns 286,131 shares in the company, valued at approximately $2,208,931.32. The disclosure for this sale can be found here. Insiders own 20.90% of the company’s stock.

Several large investors have recently added to or reduced their stakes in NMBL. Friess Associates LLC bought a new stake in Nimble Storage during the second quarter valued at about $4,856,000. Vanguard Group Inc. boosted its stake in Nimble Storage by 13.2% in the second quarter. Vanguard Group Inc. now owns 4,147,386 shares of the company’s stock valued at $33,013,000 after buying an additional 482,263 shares during the last quarter. Polar Capital LLP boosted its stake in Nimble Storage by 22.9% in the second quarter. Polar Capital LLP now owns 2,394,557 shares of the company’s stock valued at $19,050,000 after buying an additional 446,236 shares during the last quarter. Quentec Asset Management LLC boosted its stake in Nimble Storage by 35.7% in the third quarter. Quentec Asset Management LLC now owns 1,506,499 shares of the company’s stock valued at $13,302,000 after buying an additional 396,439 shares during the last quarter. Finally, California Public Employees Retirement System boosted its stake in Nimble Storage by 895.3% in the second quarter. California Public Employees Retirement System now owns 320,000 shares of the company’s stock valued at $2,547,000 after buying an additional 287,850 shares during the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

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