NetApp Inc. (NTAP) CEO George Kurian Sells 7,020 Shares

NetApp Inc. (NASDAQ:NTAP) CEO George Kurian sold 7,020 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $59.48, for a total transaction of $417,549.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

George Kurian also recently made the following trade(s):

  • On Monday, January 22nd, George Kurian sold 3,826 shares of NetApp stock. The stock was sold at an average price of $63.01, for a total transaction of $241,076.26.
  • On Wednesday, January 3rd, George Kurian sold 7,020 shares of NetApp stock. The stock was sold at an average price of $55.83, for a total transaction of $391,926.60.
  • On Monday, November 20th, George Kurian sold 75,000 shares of NetApp stock. The stock was sold at an average price of $52.50, for a total transaction of $3,937,500.00.

Shares of NetApp Inc. (NASDAQ:NTAP) traded down $0.97 during mid-day trading on Thursday, reaching $56.66. 925,442 shares of the company’s stock traded hands, compared to its average volume of 2,643,989. The stock has a market cap of $15,380.00, a PE ratio of 24.24, a P/E/G ratio of 1.86 and a beta of 1.33. NetApp Inc. has a 1-year low of $37.43 and a 1-year high of $64.06. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.64 and a current ratio of 1.67.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Wednesday, November 15th. The data storage provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.38 billion. NetApp had a net margin of 11.49% and a return on equity of 26.77%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.60 EPS. research analysts forecast that NetApp Inc. will post 2.76 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 24th. Shareholders of record on Friday, January 5th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend was Thursday, January 4th. NetApp’s payout ratio is currently 34.33%.

NTAP has been the subject of several recent research reports. Maxim Group reiterated a “buy” rating and set a $56.00 target price on shares of NetApp in a report on Friday, October 27th. Barclays upgraded shares of NetApp from an “underweight” rating to an “overweight” rating and lifted their target price for the company from $38.00 to $52.00 in a report on Thursday, November 9th. Royal Bank of Canada lifted their target price on shares of NetApp from $45.00 to $50.00 and gave the company a “sector perform” rating in a report on Monday, November 13th. Piper Jaffray Companies set a $52.00 target price on shares of NetApp and gave the company a “buy” rating in a report on Tuesday, November 14th. Finally, DA Davidson lifted their target price on shares of NetApp from $53.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating, twenty-one have issued a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $52.81.

A number of hedge funds have recently made changes to their positions in NTAP. Exane Derivatives lifted its stake in NetApp by 59,850.0% in the 3rd quarter. Exane Derivatives now owns 2,398 shares of the data storage provider’s stock worth $105,000 after purchasing an additional 2,394 shares in the last quarter. First Personal Financial Services lifted its stake in NetApp by 27,540.0% in the 3rd quarter. First Personal Financial Services now owns 2,764 shares of the data storage provider’s stock worth $121,000 after purchasing an additional 2,754 shares in the last quarter. Krilogy Financial LLC purchased a new stake in shares of NetApp during the 2nd quarter valued at about $122,000. Quantbot Technologies LP purchased a new stake in shares of NetApp during the 3rd quarter valued at about $131,000. Finally, IFP Advisors Inc raised its position in shares of NetApp by 45.3% during the 4th quarter. IFP Advisors Inc now owns 2,571 shares of the data storage provider’s stock valued at $142,000 after buying an additional 801 shares in the last quarter. Institutional investors and hedge funds own 94.96% of the company’s stock.

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About NetApp

NetApp, Inc (NetApp) provides software, systems and services to manage and store customer data. The Company enables enterprises, service providers, governmental organizations, and partners to envision, deploy and evolve their information technology (IT) environments. The Company offers a portfolio of products and services that satisfy a range of customer workloads across different data types and deployment models.

Insider Buying and Selling by Quarter for NetApp (NASDAQ:NTAP)

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