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 firm’s stock in a transaction dated Tuesday, June 21st. The stock was sold at an average price of $65.04, for a total value of $138,210.00. Following the transaction, the chief executive officer now directly owns 167,825 shares in the company, valued at approximately $10,915,338. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

Shares of NetApp stock traded up $0.15 during trading on Thursday, hitting $64.85. 1,952,086 shares of the company were exchanged, compared to its average volume of 1,975,141. The company has a quick ratio of 1.45, a current ratio of 1.50 and a debt-to-equity ratio of 2.85. NetApp, Inc. has a fifty-two week low of $62.78 and a fifty-two week high of $96.82. The stock has a market capitalization of $14.34 billion, a price-to-earnings ratio of 15.82, a P/E/G ratio of 1.65 and a beta of 1.24. The firm has a 50 day moving average price of $71.22 and a 200 day moving average price of $81.54.

NetApp (NASDAQ:NTAPGet Rating) last issued its quarterly earnings data on Wednesday, June 1st. The data storage provider reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.14. NetApp had a return on equity of 127.40% and a net margin of 14.83%. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the firm posted $0.96 EPS. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. Analysts predict that NetApp, Inc. will post 4.44 earnings per share for the current year.

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

NTAP has been the topic of a number of analyst reports. UBS Group initiated coverage on NetApp in a report on Tuesday, April 5th. They issued a “neutral” rating and a $91.00 price objective on the stock. Deutsche Bank Aktiengesellschaft raised NetApp from a “hold” rating to a “buy” rating and lowered their price objective for the company from $90.00 to $84.00 in a report on Tuesday, June 14th. Wedbush lowered their price objective on NetApp from $85.00 to $80.00 and set a “neutral” rating on the stock in a report on Thursday, June 2nd. Morgan Stanley decreased their price target on NetApp from $91.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 2nd. Finally, Susquehanna decreased their price target on NetApp from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, June 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, NetApp currently has an average rating of “Moderate Buy” and an average price target of $94.11.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Steward Partners Investment Advisory LLC raised its holdings in NetApp by 40.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 406 shares of the data storage provider’s stock valued at $37,000 after acquiring an additional 116 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund raised its holdings in NetApp by 2.1% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 5,925 shares of the data storage provider’s stock valued at $545,000 after acquiring an additional 123 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in NetApp by 11.4% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,217 shares of the data storage provider’s stock valued at $112,000 after acquiring an additional 125 shares during the last quarter. Allworth Financial LP raised its holdings in NetApp by 26.9% in the 1st quarter. Allworth Financial LP now owns 623 shares of the data storage provider’s stock valued at $52,000 after acquiring an additional 132 shares during the last quarter. Finally, Cetera Advisor Networks LLC raised its holdings in NetApp by 2.8% in the 3rd quarter. Cetera Advisor Networks LLC now owns 5,426 shares of the data storage provider’s stock valued at $487,000 after acquiring an additional 148 shares during the last quarter. Institutional investors own 91.91% of the company’s stock.

About NetApp (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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