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.
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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.
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