Insider Selling: NetApp Chairman Unloads 10,000 Shares of Stock (NTAP)
NetApp (NASDAQ:NTAP) Chairman Daniel Warmenhoven sold 10,000 shares of NetApp stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $42.01, for a total transaction of $420,100.00. Following the sale, the chairman now directly owns 64,748 shares of the company’s stock, valued at approximately $2,720,063. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at TheStreet reiterated a “buy” rating on shares of NetApp in a research note to investors on Tuesday. Finally, analysts at Barclays Capital downgraded shares of NetApp from an “overweight” rating to an “equal weight” rating in a research note to investors on Tuesday, September 24th. They now have a $46.00 price target on the stock. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $43.98.
NetApp (NASDAQ:NTAP) traded down 0.58% during mid-day trading on Wednesday, hitting $41.41. The stock had a trading volume of 5,269,865 shares. NetApp has a 1-year low of $26.26 and a 1-year high of $44.65. The stock’s 50-day moving average is $42.5 and its 200-day moving average is $38.92. The company has a market cap of $14.083 billion and a P/E ratio of 29.04.
NetApp (NASDAQ:NTAP) last released its earnings data on Wednesday, August 14th. The company reported $0.53 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.49 by $0.04. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the company posted $0.42 earnings per share. NetApp’s revenue was up 4.9% compared to the same quarter last year. On average, analysts predict that NetApp will post $2.75 earnings per share for the current fiscal year.
NetApp, Inc (NASDAQ:NTAP) is a provider of storage systems and data management solutions for information technology (IT) infrastructures.
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