NetApp Inc. (NTAP) CEO Sells $2,042,682.56 in Stock

NetApp Inc. (NASDAQ:NTAP) CEO George Kurian sold 30,253 shares of the company’s stock in a transaction on Tuesday, May 22nd. The shares were sold at an average price of $67.52, for a total value of $2,042,682.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

  • On Friday, May 4th, George Kurian sold 7,020 shares of NetApp stock. The shares were sold at an average price of $67.61, for a total value of $474,622.20.
  • On Thursday, April 5th, George Kurian sold 7,020 shares of NetApp stock. The shares were sold at an average price of $61.95, for a total value of $434,889.00.
  • On Monday, March 5th, George Kurian sold 7,020 shares of NetApp stock. The shares were sold at an average price of $60.98, for a total value of $428,079.60.

NetApp opened at $67.15 on Friday, according to Marketbeat.com. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.88 and a current ratio of 1.89. NetApp Inc. has a 1-year low of $37.43 and a 1-year high of $72.85. The company has a market capitalization of $18.24 billion, a price-to-earnings ratio of 22.46, a price-to-earnings-growth ratio of 1.96 and a beta of 1.26.



NetApp (NASDAQ:NTAP) last released its earnings results on Wednesday, May 23rd. The data storage provider reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.04. NetApp had a net margin of 1.29% and a return on equity of 33.87%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period last year, the company posted $0.86 EPS. The business’s revenue was up 10.8% on a year-over-year basis. sell-side analysts forecast that NetApp Inc. will post 3.36 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 25th. Shareholders of record on Friday, July 6th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.38%. This is a positive change from NetApp’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, July 5th. NetApp’s dividend payout ratio (DPR) is 26.76%.

Several brokerages have weighed in on NTAP. Morgan Stanley increased their price target on NetApp from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Friday, April 6th. Zacks Investment Research raised NetApp from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Tuesday, February 6th. Pivotal Research set a $62.00 price target on NetApp and gave the stock a “hold” rating in a research report on Wednesday, February 28th. Loop Capital raised NetApp from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, February 13th. Finally, DA Davidson set a $79.00 price target on NetApp and gave the stock a “buy” rating in a research report on Friday, April 6th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $64.04.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NTAP. BlackRock Inc. increased its holdings in shares of NetApp by 0.9% during the 1st quarter. BlackRock Inc. now owns 20,465,300 shares of the data storage provider’s stock worth $1,262,508,000 after buying an additional 182,734 shares during the last quarter. Boston Partners increased its holdings in shares of NetApp by 10.3% during the 1st quarter. Boston Partners now owns 13,381,688 shares of the data storage provider’s stock worth $825,516,000 after buying an additional 1,254,548 shares during the last quarter. Investec Asset Management LTD acquired a new stake in shares of NetApp during the 4th quarter worth approximately $290,829,000. Bank of New York Mellon Corp increased its holdings in shares of NetApp by 6.4% during the 4th quarter. Bank of New York Mellon Corp now owns 4,322,669 shares of the data storage provider’s stock worth $239,131,000 after buying an additional 260,763 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of NetApp by 488.7% during the 1st quarter. JPMorgan Chase & Co. now owns 3,537,659 shares of the data storage provider’s stock worth $218,239,000 after buying an additional 2,936,713 shares during the last quarter. 91.04% of the stock is currently owned by institutional investors and hedge funds.

NetApp Company Profile

NetApp, Inc provides software, systems, and services to manage and store computer data worldwide. It offers flash; flash arrays that support data management; hybrid arrays to deploy the speed of flash storage; hybrid cloud; ONTAP cloud storage data management service; NetApp cloud sync hybrid data management Software as a Service; NetApp private storage for cloud; and AltaVault cloud-integrated solutions.

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

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