NetApp Inc. (NTAP) CEO George Kurian Sells 6,000 Shares

NetApp Inc. (NASDAQ:NTAP) CEO George Kurian sold 6,000 shares of NetApp stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $78.35, for a total value of $470,100.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

  • On Monday, October 22nd, George Kurian sold 11,435 shares of NetApp stock. The shares were sold at an average price of $78.46, for a total value of $897,190.10.
  • On Monday, October 1st, George Kurian sold 6,000 shares of NetApp stock. The shares were sold at an average price of $86.10, for a total value of $516,600.00.
  • On Thursday, September 20th, George Kurian sold 46,638 shares of NetApp stock. The shares were sold at an average price of $84.76, for a total value of $3,953,036.88.
  • On Tuesday, September 4th, George Kurian sold 6,000 shares of NetApp stock. The shares were sold at an average price of $86.61, for a total value of $519,660.00.
  • On Monday, August 20th, George Kurian sold 36,646 shares of NetApp stock. The shares were sold at an average price of $81.69, for a total value of $2,993,611.74.

NTAP stock opened at $80.12 on Tuesday. NetApp Inc. has a 1-year low of $44.02 and a 1-year high of $88.08. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.06 and a quick ratio of 2.03. The firm has a market capitalization of $20.46 billion, a PE ratio of 26.80, a price-to-earnings-growth ratio of 1.42 and a beta of 1.38.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Wednesday, August 15th. The data storage provider reported $1.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.24. NetApp had a return on equity of 41.75% and a net margin of 3.68%. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the business earned $0.62 earnings per share. The company’s revenue was up 11.6% on a year-over-year basis. As a group, research analysts anticipate that NetApp Inc. will post 3.92 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 24th. Stockholders of record on Friday, October 5th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.00%. The ex-dividend date was Thursday, October 4th. NetApp’s dividend payout ratio is currently 53.51%.

Hedge funds have recently bought and sold shares of the company. CENTRAL TRUST Co raised its stake in shares of NetApp by 589.7% in the third quarter. CENTRAL TRUST Co now owns 1,276 shares of the data storage provider’s stock worth $110,000 after purchasing an additional 1,091 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of NetApp by 16,433.3% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,488 shares of the data storage provider’s stock worth $116,000 after purchasing an additional 1,479 shares during the last quarter. Cerebellum GP LLC purchased a new position in shares of NetApp in the third quarter worth $182,000. Checchi Capital Advisers LLC purchased a new position in shares of NetApp in the third quarter worth $201,000. Finally, Calamos Advisors LLC purchased a new position in shares of NetApp in the third quarter worth $206,000. Hedge funds and other institutional investors own 95.52% of the company’s stock.

Several equities research analysts have commented on the company. Susquehanna Bancshares boosted their target price on NetApp from $75.00 to $100.00 and gave the stock a “positive” rating in a report on Tuesday, July 24th. BidaskClub downgraded NetApp from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 9th. Deutsche Bank boosted their target price on NetApp from $43.00 to $60.00 and gave the stock a “sell” rating in a report on Thursday, August 16th. Goldman Sachs Group raised NetApp from a “neutral” rating to a “conviction-buy” rating and set a $91.00 target price on the stock in a report on Wednesday, October 17th. Finally, Bank of America boosted their target price on NetApp from $88.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, August 13th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $81.17.

TRADEMARK VIOLATION WARNING: This story was originally reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this story on another domain, it was illegally copied and republished in violation of United States and international copyright & trademark law. The legal version of this story can be accessed at https://www.dispatchtribunal.com/2018/11/06/netapp-inc-ntap-ceo-george-kurian-sells-6000-shares.html.

About NetApp

NetApp, Inc provides software, systems, and services to manage and share date on-premises, and private and public clouds worldwide. It offers cloud data services, such as ONTAP cloud storage data management and NetApp cloud sync data synchronization services; NetApp SaaS backup for Microsoft Office 365; NetApp cloud backup solutions; OnCommand management software and management integration tools; and NetApp private storage for cloud.

Featured Story: Stop Order

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

Receive News & Ratings for NetApp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetApp and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply