Insider Selling: Thomas Georgens Sells 150,000 Shares of NetApp Stock (NTAP)
NetApp (NASDAQ:NTAP) CEO Thomas Georgens unloaded 150,000 shares of the company’s stock on the open market in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $41.07, for a total transaction of $6,160,500.00. Following the sale, the chief executive officer now directly owns 10,329 shares of the company’s stock, valued at approximately $424,212. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
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, 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 analysts have rated the stock with a sell rating, twenty have issued a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $41.19.
NetApp (NASDAQ:NTAP) opened at 41.00 on Friday. NetApp has a 52 week low of $33.34 and a 52 week 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 $13.264 billion and a price-to-earnings ratio of 21.66.
NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Wednesday, August 13th. The company reported $0.60 EPS for the quarter, beating the Thomson Reuters 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. 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 of this dividend 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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