NetApp, Inc. (NASDAQ:NTAP) CEO Sells $138,210.00 in Stock

NetApp, Inc. (NASDAQ:NTAPGet Rating) CEO George Kurian sold 2,125 shares of the business’s stock in a transaction on Tuesday, June 21st. The shares were sold at an average price of $65.04, for a total transaction of $138,210.00. Following the sale, the chief executive officer now directly owns 167,825 shares of the company’s stock, valued at $10,915,338. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

  • On Wednesday, May 25th, George Kurian sold 2,125 shares of NetApp stock. The shares were sold at an average price of $70.00, for a total transaction of $148,750.00.
  • On Monday, May 23rd, George Kurian sold 2,125 shares of NetApp stock. The stock was sold at an average price of $66.95, for a total transaction of $142,268.75.
  • On Monday, April 18th, George Kurian sold 4,250 shares of NetApp stock. The stock was sold at an average price of $75.50, for a total transaction of $320,875.00.

Shares of NetApp stock traded up $0.15 during trading on Thursday, reaching $64.85. The company had a trading volume of 1,952,086 shares, compared to its average volume of 1,975,141. The company has a market cap of $14.34 billion, a price-to-earnings ratio of 15.82, a price-to-earnings-growth ratio of 1.65 and a beta of 1.24. The firm’s fifty day moving average is $71.22 and its 200-day moving average is $81.54. The company has a debt-to-equity ratio of 2.85, a quick ratio of 1.45 and a current ratio of 1.50. NetApp, Inc. has a fifty-two week low of $62.78 and a fifty-two week high of $96.82.

NetApp (NASDAQ:NTAPGet Rating) last issued its earnings results on Wednesday, June 1st. The data storage provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.14. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.68 billion. NetApp had a net margin of 14.83% and a return on equity of 127.40%. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.96 EPS. On average, research analysts anticipate that NetApp, Inc. will post 4.44 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 27th. Investors of record on Friday, July 8th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, July 7th. This represents a $2.00 annualized dividend and a yield of 3.08%. NetApp’s dividend payout ratio (DPR) is 48.78%.

NTAP has been the subject of a number of research reports. UBS Group initiated coverage on shares of NetApp in a research report on Tuesday, April 5th. They set a “neutral” rating and a $91.00 price target for the company. William Blair reaffirmed an “outperform” rating on shares of NetApp in a research report on Wednesday, March 23rd. JPMorgan Chase & Co. decreased their price target on shares of NetApp from $110.00 to $100.00 in a research report on Wednesday, May 25th. StockNews.com cut shares of NetApp from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Cowen decreased their price objective on shares of NetApp to $85.00 in a research report on Friday, May 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, NetApp has a consensus rating of “Moderate Buy” and a consensus price target of $94.11.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Livforsakringsbolaget Skandia Omsesidigt raised its stake in NetApp by 5.4% during the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 69,941 shares of the data storage provider’s stock worth $5,804,000 after acquiring an additional 3,600 shares during the period. Teachers Retirement System of The State of Kentucky raised its stake in NetApp by 7.0% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 356,960 shares of the data storage provider’s stock worth $29,628,000 after acquiring an additional 23,418 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in NetApp by 25.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,446 shares of the data storage provider’s stock worth $1,863,000 after acquiring an additional 4,493 shares during the period. Walleye Capital LLC raised its stake in NetApp by 76.3% during the first quarter. Walleye Capital LLC now owns 47,963 shares of the data storage provider’s stock worth $3,981,000 after acquiring an additional 20,760 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in NetApp by 410.9% during the first quarter. EverSource Wealth Advisors LLC now owns 659 shares of the data storage provider’s stock worth $54,000 after acquiring an additional 530 shares during the period. Hedge funds and other institutional investors own 91.91% of the company’s stock.

NetApp Company Profile (Get Rating)

NetApp, Inc provides software, systems, and cloud services to manage and share data on-premises, and private and public clouds worldwide. The company offers cloud storage services, including NetApp Cloud Volumes; cloud control solutions, such as NetApp Cloud Manager and NetApp Virtual Desktop Service; cloud services and analytics comprising NetApp Cloud Insights, NetApp Cloud Sync, NetApp Cloud Compliance, NetApp Cloud Tiering, NetApp SaaS Backup, NetApp Cloud Backup, and NetApp Global File Cache; and Cloud Optimization solutions, such as Spot by NetApp, Spot Cloud Analyzer by NetApp, Spot Eco by NetApp, Spot Ocean by NetApp, Spot Wave by NetApp, Spot Elastigroup by NetApp, and NetApp Virtual Desktop Managed Service.

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