Insider Selling: Daniel Warmenhoven Unloads 10,000 Shares of NetApp Stock (NTAP)
NetApp (NASDAQ:NTAP) Chairman Daniel Warmenhoven unloaded 10,000 shares of NetApp stock on the open market in a transaction dated Monday, October 21st. The stock was sold at an average price of $41.54, for a total value of $415,400.00. Following the transaction, the chairman now directly owns 64,748 shares of the company’s stock, valued at approximately $2,689,632. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of research firms have recently commented on NTAP. Analysts at TheStreet reiterated a “buy” rating on shares of NetApp in a research note to investors on Friday, October 18th. Separately, analysts at Pacific Crest cut their price target on shares of NetApp from $48.00 to $46.00 in a research note to investors on Wednesday, October 16th. They now have an “outperform” rating on the stock. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seventeen have given a buy rating to the company. NetApp presently has a consensus rating of “Hold” and an average target price of $44.43.
Shares of NetApp (NASDAQ:NTAP) traded down 4.05% during mid-day trading on Wednesday, hitting $39.06. 8,840,998 shares of the company’s stock traded hands. NetApp has a one year low of $26.26 and a one year high of $43.83. The stock’s 50-day moving average is $42.00 and its 200-day moving average is $37.7. The company has a market cap of $13.284 billion and a price-to-earnings ratio of 28.39. NetApp also saw some unusual options trading on Wednesday. Stock traders purchased 33,220 call options on the stock. This is an increase of 448% compared to the typical volume of 6,060 call options.
NetApp (NASDAQ:NTAP) last announced its earnings results on Wednesday, August 14th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.42 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. Analysts expect that NetApp will post $2.75 EPS 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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