Insider Selling: NetApp Insider Unloads 28,188 Shares of Stock (NTAP)
NetApp (NASDAQ:NTAP) Insider Robert E. Salmon unloaded 28,188 shares of the stock on the open market in a transaction dated Monday, August 18th. The stock was sold at an average price of $41.06, for a total value of $1,157,399.28. Following the completion of the transaction, the insider now directly owns 42,484 shares of the company’s stock, valued at approximately $1,744,393. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on NTAP shares. Analysts at Sterne Agee raised their price target on shares of NetApp from $34.00 to $35.00 in a research note on Thursday, August 14th. 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, August 14th. 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, August 14th. They now have a “neutral” rating on the stock. Two research analysts have rated the stock with a sell rating, twenty have given a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $41.19.
Shares of NetApp (NASDAQ:NTAP) traded up 0.33% on Wednesday, hitting $40.965. The stock had a trading volume of 2,317,700 shares. NetApp has a one year low of $33.34 and a one year high of $45.96. The stock has a 50-day moving average of $38.35 and a 200-day moving average of $37.49. The company has a market cap of $13.252 billion and a price-to-earnings ratio of 21.61.
NetApp (NASDAQ:NTAP) last released its earnings data 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 declared a quarterly dividend, which is scheduled for Wednesday, October 22nd. Shareholders of record on Friday, October 10th will be given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Wednesday, October 8th.
NetApp, Inc (NASDAQ:NTAP) is a provider of storage systems and data management solutions for information technology (IT) infrastructures.
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