George Kurian Sells 8,500 Shares of NetApp, Inc. (NASDAQ:NTAP) Stock

NetApp, Inc. (NASDAQ:NTAP) CEO George Kurian sold 8,500 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $103.16, for a total value of $876,860.00. Following the completion of the sale, the chief executive officer now directly owns 252,702 shares of the company’s stock, valued at approximately $26,068,738.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, March 19th, George Kurian sold 8,500 shares of NetApp stock. The stock was sold at an average price of $101.44, for a total value of $862,240.00.

NetApp Trading Down 0.8 %

NASDAQ:NTAP opened at $100.14 on Friday. The firm has a market cap of $20.67 billion, a PE ratio of 22.76, a price-to-earnings-growth ratio of 2.26 and a beta of 1.28. The stock has a fifty day moving average price of $98.83 and a 200 day moving average price of $88.27. NetApp, Inc. has a 12-month low of $60.92 and a 12-month high of $112.48. The company has a current ratio of 1.15, a quick ratio of 1.11 and a debt-to-equity ratio of 2.00.

NetApp (NASDAQ:NTAP) last released its earnings results on Thursday, February 29th. The data storage provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.25. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.59 billion. NetApp had a return on equity of 109.49% and a net margin of 15.21%. NetApp’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the business posted $1.02 earnings per share. Sell-side analysts anticipate that NetApp, Inc. will post 5.16 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Friday, April 5th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Thursday, April 4th. NetApp’s dividend payout ratio (DPR) is 45.45%.

Analyst Ratings Changes

NTAP has been the subject of several recent analyst reports. UBS Group raised their target price on NetApp from $93.00 to $96.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Raymond James reissued a “market perform” rating on shares of NetApp in a research note on Tuesday, January 16th. Evercore ISI lifted their price objective on NetApp from $95.00 to $105.00 and gave the company an “in-line” rating in a research note on Friday, March 1st. Argus raised NetApp from a “hold” rating to a “buy” rating and set a $130.00 price objective for the company in a research note on Monday, March 4th. Finally, StockNews.com cut NetApp from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, NetApp has a consensus rating of “Hold” and a consensus price target of $97.94.

Institutional Trading of NetApp

Institutional investors have recently bought and sold shares of the business. ORG Partners LLC lifted its holdings in NetApp by 14,650.0% during the 4th quarter. ORG Partners LLC now owns 295 shares of the data storage provider’s stock worth $26,000 after buying an additional 293 shares during the last quarter. Larson Financial Group LLC purchased a new stake in NetApp during the 3rd quarter worth about $27,000. First Horizon Advisors Inc. lifted its holdings in NetApp by 58.7% during the 4th quarter. First Horizon Advisors Inc. now owns 311 shares of the data storage provider’s stock worth $27,000 after buying an additional 115 shares during the last quarter. Rise Advisors LLC purchased a new stake in NetApp during the 1st quarter worth about $27,000. Finally, Sunbelt Securities Inc. purchased a new stake in NetApp during the 1st quarter worth about $28,000. 92.17% of the stock is owned by hedge funds and other institutional investors.

About NetApp

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.