NetApp Inc. (NASDAQ:NTAP) CEO George Kurian sold 7,020 shares of NetApp stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $55.83, for a total value of $391,926.60. Following the completion of the sale, the chief executive officer now directly owns 31,483 shares of the company’s stock, valued at approximately $1,757,695.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
George Kurian also recently made the following trade(s):
- 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 value of $3,937,500.00.
Shares of NetApp Inc. (NASDAQ NTAP) traded up $1.16 during trading on Thursday, hitting $61.81. The stock had a trading volume of 3,557,929 shares, compared to its average volume of 2,596,916. NetApp Inc. has a fifty-two week low of $35.08 and a fifty-two week high of $61.86. The stock has a market capitalization of $16,490.00, a P/E ratio of 26.53, a price-to-earnings-growth ratio of 1.91 and a beta of 1.29. 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 announced its quarterly earnings data on Wednesday, November 15th. The data storage provider reported $0.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.12. NetApp had a return on equity of 26.77% and a net margin of 11.49%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the business earned $0.60 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. analysts forecast that NetApp Inc. will post 2.72 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Friday, January 5th will be given a $0.20 dividend. The ex-dividend date is Thursday, January 4th. This represents a $0.80 annualized dividend and a dividend yield of 1.29%. NetApp’s payout ratio is 34.33%.
Several brokerages recently commented on NTAP. DA Davidson reaffirmed a “buy” rating and issued a $51.00 price objective on shares of NetApp in a report on Monday, October 2nd. Drexel Hamilton reaffirmed a “buy” rating and issued a $62.00 price objective on shares of NetApp in a report on Monday, September 25th. Robert W. Baird reaffirmed a “hold” rating and issued a $46.00 price objective (up previously from $44.00) on shares of NetApp in a report on Wednesday, October 4th. Oppenheimer reissued a “hold” rating on shares of NetApp in a report on Wednesday, October 4th. Finally, BMO Capital Markets reissued a “hold” rating and set a $43.00 price target on shares of NetApp in a report on Wednesday, November 15th. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fourteen have issued a buy rating to the stock. NetApp presently has a consensus rating of “Hold” and a consensus target price of $50.15.
Several institutional investors have recently made changes to their positions in the company. Neuberger Berman Group LLC lifted its position in shares of NetApp by 0.7% in the second quarter. Neuberger Berman Group LLC now owns 8,201 shares of the data storage provider’s stock worth $328,000 after buying an additional 58 shares in the last quarter. HPM Partners LLC lifted its position in shares of NetApp by 1.1% in the second quarter. HPM Partners LLC now owns 9,955 shares of the data storage provider’s stock worth $399,000 after buying an additional 107 shares in the last quarter. Calamos Advisors LLC lifted its position in shares of NetApp by 2.4% in the second quarter. Calamos Advisors LLC now owns 6,895 shares of the data storage provider’s stock worth $276,000 after buying an additional 160 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of NetApp by 3.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 5,189 shares of the data storage provider’s stock worth $208,000 after buying an additional 185 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of NetApp by 2.1% in the second quarter. PNC Financial Services Group Inc. now owns 10,933 shares of the data storage provider’s stock worth $440,000 after buying an additional 228 shares in the last quarter. Institutional investors and hedge funds own 94.71% of the company’s stock.
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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.
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