The data storage platform Nimble Storage Inc. (NYSE:NMBL) has been in the spotlight recently, due to its insider stock sales, which increased significantly throughout the past month. Following Michael Munoz’s (VP of Sales) sale of 10,000 Common Stock and Umesh Maheschwari’s (Chief Technology Officer) unloading of 16,000 shares on Wednesday, Peter Nieh – Director and 10% owner of Nimble Storage – completed his stock sale on Friday.
The transaction commenced on Wednesday, when Nieh sold 6,387 shares of Common Stock, indirectly, for a price of $30.54 per share, and was completed on Friday with the sale of another 8,000 shares for the slightly lower price of $30.34. After closing the insider trade, Nieh still holds 12,000 company shares.
In spite of the latest insider transactions, many hedge funds hold strong shareholder positions in Nimble Storage, such as Stuart Peterson’s Artis Capital Management, which owns over 2.5 million shares, for a value of $96 million. The newest position amongst hedge funds this quarter is taken by Polar Capital, run by Brian Ashford-Russell and Tim Woolley, which recently acquired almost 270,000 company shares, worth $10 million.