NetApp Inc. (NTAP) CEO George Kurian Sells 7,020 Shares

NetApp Inc. (NASDAQ:NTAP) CEO George Kurian sold 7,020 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $59.48, for a total transaction of $417,549.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

George Kurian also recently made the following trade(s):

  • On Monday, January 22nd, George Kurian sold 3,826 shares of NetApp stock. The stock was sold at an average price of $63.01, for a total transaction of $241,076.26.
  • On Wednesday, January 3rd, George Kurian sold 7,020 shares of NetApp stock. The stock was sold at an average price of $55.83, for a total transaction of $391,926.60.
  • On Monday, November 20th, George Kurian sold 75,000 shares of NetApp stock. The stock was sold at an average price of $52.50, for a total transaction of $3,937,500.00.

NetApp Inc. (NASDAQ:NTAP) traded down $0.51 on Wednesday, reaching $57.63. 2,166,598 shares of the company traded hands, compared to its average volume of 2,450,000. The company has a market cap of $15,380.00, a PE ratio of 24.73, a P/E/G ratio of 1.81 and a beta of 1.33. NetApp Inc. has a 1-year low of $37.43 and a 1-year high of $64.06. The company has a quick ratio of 1.64, a current ratio of 1.67 and a debt-to-equity ratio of 0.55.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, November 15th. The data storage provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.69 by $0.12. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.38 billion. NetApp had a net margin of 11.49% and a return on equity of 26.77%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 EPS. equities research analysts predict that NetApp Inc. will post 2.76 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 24th. Investors of record on Friday, January 5th were given a $0.20 dividend. The ex-dividend date was Thursday, January 4th. This represents a $0.80 annualized dividend and a yield of 1.39%. NetApp’s dividend payout ratio is currently 34.33%.

A number of institutional investors and hedge funds have recently bought and sold shares of NTAP. PNC Financial Services Group Inc. lifted its position in NetApp by 2.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 10,933 shares of the data storage provider’s stock valued at $440,000 after acquiring an additional 228 shares in the last quarter. QS Investors LLC lifted its position in NetApp by 29.1% in the 2nd quarter. QS Investors LLC now owns 38,321 shares of the data storage provider’s stock valued at $1,535,000 after acquiring an additional 8,647 shares in the last quarter. Macquarie Group Ltd. lifted its position in NetApp by 24.0% in the 2nd quarter. Macquarie Group Ltd. now owns 6,200 shares of the data storage provider’s stock valued at $248,000 after acquiring an additional 1,200 shares in the last quarter. Janus Henderson Group PLC lifted its position in NetApp by 6,495.7% in the 2nd quarter. Janus Henderson Group PLC now owns 2,312,525 shares of the data storage provider’s stock valued at $92,617,000 after acquiring an additional 2,277,464 shares in the last quarter. Finally, Caxton Associates LP bought a new stake in NetApp in the 2nd quarter valued at $417,000. 94.96% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have commented on NTAP. Barclays reaffirmed an “overweight” rating and set a $56.00 target price (up previously from $52.00) on shares of NetApp in a report on Thursday, November 16th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $60.00 target price on shares of NetApp in a report on Thursday, November 16th. Morgan Stanley raised shares of NetApp from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $41.00 to $64.00 in a report on Tuesday, January 23rd. Pivotal Research began coverage on shares of NetApp in a report on Thursday, November 16th. They set a “hold” rating and a $54.00 target price for the company. Finally, UBS Group reaffirmed a “buy” rating and set a $52.00 target price (up previously from $45.00) on shares of NetApp in a report on Thursday, November 16th. One investment analyst has rated the stock with a sell rating, twenty-one have given a hold rating and thirteen have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $52.81.

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NetApp Company Profile

NetApp, Inc (NetApp) provides software, systems and services to manage and store customer data. The Company enables enterprises, service providers, governmental organizations, and partners to envision, deploy and evolve their information technology (IT) environments. The Company offers a portfolio of products and services that satisfy a range of customer workloads across different data types and deployment models.

Insider Buying and Selling by Quarter for NetApp (NASDAQ:NTAP)

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