Insider Selling: NetApp Director Sells 277,018 Shares of Stock (NTAP)
NetApp (NASDAQ:NTAP) Director Daniel J. Warmenhoven unloaded 277,018 shares of NetApp stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $41.29, for a total value of $11,438,073.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of NetApp (NASDAQ:NTAP) traded down 0.60% on Monday, hitting $41.11. The stock had a trading volume of 3,323,576 shares. NetApp has a 1-year low of $33.34 and a 1-year high of $45.96. The stock has a 50-day moving average of $38.11 and a 200-day moving average of $37.51. The company has a market cap of $13.299 billion and a P/E ratio of 21.90.
NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Wednesday, August 13th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.47 billion. On average, analysts predict that NetApp will post $2.99 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 22nd. Stockholders of record on Friday, October 10th will be paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Wednesday, October 8th.
A number of research firms have recently commented on NTAP. Analysts at Sterne Agee raised their price target on shares of NetApp from $34.00 to $35.00 in a research note on Thursday. They now have a “neutral” rating on the stock. Separately, analysts at Cantor Fitzgerald raised their price target on shares of NetApp from $45.00 to $47.00 in a research note on Thursday. They now have a “buy” rating on the stock. Finally, analysts at Macquarie raised their price target on shares of NetApp from $38.00 to $41.00 in a research note on Thursday. They now have a “neutral” rating on the stock. Two analysts have rated the stock with a sell rating, twenty have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $41.19.
NetApp, Inc (NASDAQ:NTAP) is a provider of storage systems and data management solutions for information technology (IT) infrastructures.
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