Market Runner: Is Nimble Storage Inc’s Fuel Running Low? The Stock Just Declined Again

Market Runner: Is Nimble Storage Inc's Fuel Running Low? The Stock Just Declined Again

The stock of Nimble Storage Inc (NYSE:NMBL) is a huge mover today! The stock decreased 15.91% or $1.47 on November 23, hitting $7.77. About 5.29 million shares traded hands or 517.99% up from the average. Nimble Storage Inc (NYSE:NMBL) has declined 1.65% since April 22, 2016 and is downtrending. It has underperformed by 7.05% the S&P500.
The move comes after 7 months negative chart setup for the $672.14M company. It was reported on Nov, 24 by Barchart.com. We have $7.15 PT which if reached, will make NYSE:NMBL worth $53.77M less.

Nimble Storage Inc (NYSE:NMBL) Ratings Coverage

Out of 27 analysts covering Nimble Storage (NYSE:NMBL), 12 rate it a “Buy”, 0 “Sell”, while 15 “Hold”. This means 44% are positive. $45 is the highest target while $6 is the lowest. The $20.93 average target is 169.37% above today’s ($7.77) stock price. Nimble Storage has been the topic of 55 analyst reports since July 28, 2015 according to StockzIntelligence Inc. RBC Capital Markets downgraded the stock to “Sector Perform” rating in Friday, November 20 report. On Tuesday, November 24 the stock rating was upgraded by DA Davidson to “Neutral”. Monness Crespi & Hardt maintained it with “Buy” rating and $32 target price in Monday, November 16 report. As per Sunday, November 22, the company rating was downgraded by Monness Crespi & Hardt. The rating was initiated by Barclays Capital on Wednesday, October 14 with “Overweight”. As per Tuesday, September 22, the company rating was downgraded by Goldman Sachs. The stock of Nimble Storage Inc (NYSE:NMBL) earned “Buy” rating by Needham on Tuesday, July 28. Wells Fargo upgraded the stock to “Outperform” rating in Wednesday, October 12 report. The company was downgraded on Friday, November 20 by Stifel Nicolaus. The stock has “Buy” rating given by Longbow on Thursday, September 24.

According to Zacks Investment Research, “Nimble Storage, Inc. offers flash-optimized hybrid storage platform. The company’s software and storage systems handle various mainstream applications which include virtual desktops, databases, email, collaboration and analytics. It serves industries comprising cloud-based service providers, education, financial services, healthcare, manufacturing, state and local government and technology. Nimble Storage, Inc. is based in San Jose, California.”

Insitutional Activity: The institutional sentiment increased to 2.1 in Q2 2016. Its up 0.52, from 1.58 in 2016Q1. The ratio improved, as 11 funds sold all Nimble Storage Inc shares owned while 32 reduced positions. 20 funds bought stakes while 48 increased positions. They now own 51.68 million shares or 2.37% less from 52.94 million shares in 2016Q1.
Walleye Trading Limited holds 0% of its portfolio in Nimble Storage Inc (NYSE:NMBL) for 7,982 shares. Tfs Cap Ltd Liability Com accumulated 0.02% or 13,198 shares. Fmr Ltd Liability reported 6.47 million shares or 0.01% of all its holdings. Peak6 Invests Limited Partnership holds 10,252 shares or 0% of its portfolio. Citadel Advsr Limited Liability Corp accumulated 0.01% or 813,976 shares. Moreover, Bogle Investment Mgmt Limited Partnership De has 0.05% invested in Nimble Storage Inc (NYSE:NMBL) for 99,081 shares. The California-based First Republic Investment Management Inc has invested 0.01% in Nimble Storage Inc (NYSE:NMBL). Quantitative Systematic Strategies Lc last reported 85,738 shares in the company. Menta Capital Limited Liability Corp last reported 0.05% of its portfolio in the stock. Pier Capital Ltd Liability Corporation has 645,792 shares for 0.94% of their US portfolio. Primecap Mgmt Communication Ca reported 302,600 shares or 0% of all its holdings. Blackrock, a United Kingdom-based fund reported 13,621 shares. Swiss Bankshares holds 0% of its portfolio in Nimble Storage Inc (NYSE:NMBL) for 94,300 shares. Moreover, Elm Ridge Limited Liability has 0.83% invested in Nimble Storage Inc (NYSE:NMBL) for 435,472 shares. Zurcher Kantonalbank (Zurich Cantonalbank) has 0% invested in the company for 910 shares.

Insider Transactions: Since May 27, 2016, the stock had 1 insider buy, and 12 sales for $983,621 net activity. On Wednesday, June 15 the insider Kennelly Jerry M sold $45,178. $283,626 worth of Nimble Storage Inc (NYSE:NMBL) shares were sold by Li Ping. $103,410 worth of Nimble Storage Inc (NYSE:NMBL) was sold by MEHTA VARUN on Monday, September 12. $148,946 worth of Nimble Storage Inc (NYSE:NMBL) was sold by Murphy Denis. On Monday, September 19 the insider SCHROEDER WILLIAM JOHN bought $55,025. SINGH ANUP V also sold $6,688 worth of Nimble Storage Inc (NYSE:NMBL) shares. Vasudevan Suresh also sold $176,657 worth of Nimble Storage Inc (NYSE:NMBL) on Monday, September 12.

More important recent Nimble Storage Inc (NYSE:NMBL) news were published by: Fool.com which released: “Why Nimble Storage Inc. Stock Plunged Today” on November 23, 2016, also Fool.com published article titled: “Why Nimble Storage, Inc. Stock Skyrocketed Today”, Prnewswire.com published: “Nimble Storage Announces Participation in Upcoming Investor Conference” on October 24, 2016. More interesting news about Nimble Storage Inc (NYSE:NMBL) was released by: Prnewswire.com and their article: “Nimble Storage Announces Second Quarter 2017 Results” with publication date: August 23, 2016.

NMBL Company Profile

Nimble Storage, Inc. (Nimble Storage), incorporated on November 8, 2007, engineers and delivers its clients 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. It enables information technology (IT) organizations to manage performance, capacity and cost for the applications running across the data center with InfoSight cloud management software. The Predictive Flash platform includes over six components, such as AF-Series All Flash arrays, CS-Series Adaptive Flash arrays, Unified Flash Fabric, InfoSight, SmartStack and Timeless Storage.

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