NetApp Director Daniel J. Warmenhoven Sells 277,018 Shares (NTAP)
NetApp (NASDAQ:NTAP) Director Daniel J. Warmenhoven sold 277,018 shares of the company’s stock on the open market in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $41.29, for a total transaction of $11,438,073.22. The transaction was disclosed in a document filed with the SEC, which is available at this link.
NetApp (NASDAQ:NTAP) remained flat at $40.83 during trading on Wednesday. 727,141 shares of the company’s stock traded hands. NetApp has a 52 week low of $33.34 and a 52 week high of $45.96. The stock has a 50-day moving average of $38.23 and a 200-day moving average of $37.4. The company has a market cap of $13.209 billion and a P/E ratio of 21.61.
NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Wednesday, August 13th. The company reported $0.60 earnings per share for the quarter, beating the analysts’ 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. Investors 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 1.62%. The ex-dividend date is Wednesday, October 8th.
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 equities research 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. 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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