Insider Selling: Robert E. Salmon Sells 30,000 Shares of NetApp Stock (NTAP)
NetApp (NASDAQ:NTAP) Insider Robert E. Salmon sold 30,000 shares of the company’s stock on the open market in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $40.87, for a total transaction of $1,226,100.00. Following the transaction, the insider now directly owns 42,484 shares in the company, valued at approximately $1,736,321. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of NetApp (NASDAQ:NTAP) traded down 0.11% on Thursday, hitting $40.92. 1,805,032 shares of the company’s stock traded hands. NetApp has a one year low of $33.34 and a one year high of $45.96. The stock’s 50-day moving average is $38.46 and its 200-day moving average is $37.51. The company has a market cap of $13.238 billion and a P/E ratio of 21.69.
NetApp (NASDAQ:NTAP) last announced its 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 $3.00 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 22nd. Stockholders 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 of this dividend is Wednesday, October 8th.
Several analysts have recently commented on the stock. 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 given a hold rating and eleven have given a buy rating to the company. The company 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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