NetApp, Inc. (NASDAQ:NTAP) CEO Sells $148,750.00 in Stock

NetApp, Inc. (NASDAQ:NTAPGet Rating) CEO George Kurian sold 2,125 shares of the business’s stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $70.00, for a total transaction of $148,750.00. Following the completion of the sale, the chief executive officer now directly owns 154,004 shares in the company, valued at approximately $10,780,280. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

  • 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.
  • On Monday, March 21st, George Kurian sold 4,250 shares of NetApp stock. The stock was sold at an average price of $89.86, for a total transaction of $381,905.00.

NetApp stock traded up $2.56 during mid-day trading on Friday, hitting $73.05. 1,904,352 shares of the stock were exchanged, compared to its average volume of 1,952,565. The stock has a market capitalization of $16.26 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 1.73 and a beta of 1.24. NetApp, Inc. has a 12 month low of $64.58 and a 12 month high of $96.82. The company has a quick ratio of 1.51, a current ratio of 1.55 and a debt-to-equity ratio of 2.70. The firm’s fifty day simple moving average is $76.98 and its two-hundred day simple moving average is $84.32.

NetApp (NASDAQ:NTAPGet Rating) last posted its quarterly earnings results on Wednesday, February 23rd. The data storage provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.13. NetApp had a net margin of 16.34% and a return on equity of 126.47%. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter last year, the firm posted $0.94 EPS. NetApp’s revenue was up 9.8% compared to the same quarter last year. As a group, analysts forecast that NetApp, Inc. will post 4.26 earnings per share for the current fiscal year.

A number of brokerages have recently commented on NTAP. UBS Group began coverage on shares of NetApp in a research report on Tuesday, April 5th. They issued a “neutral” rating and a $91.00 price objective on the stock. Wedbush reaffirmed a “neutral” rating and set a $85.00 price target on shares of NetApp in a research report on Wednesday, March 23rd. William Blair reaffirmed an “outperform” rating on shares of NetApp in a research report on Wednesday, March 23rd. Bank of America lowered shares of NetApp from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $100.00 to $96.00 in a research report on Thursday, March 24th. Finally, Northland Securities upped their price target on shares of NetApp from $111.00 to $124.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 23rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $98.63.

A number of hedge funds and other institutional investors have recently bought and sold shares of NTAP. Assetmark Inc. grew its position in NetApp by 150.4% in the 3rd quarter. Assetmark Inc. now owns 288 shares of the data storage provider’s stock valued at $26,000 after purchasing an additional 173 shares during the period. North Star Investment Management Corp. grew its position in NetApp by 200.0% in the 4th quarter. North Star Investment Management Corp. now owns 300 shares of the data storage provider’s stock valued at $28,000 after purchasing an additional 200 shares during the period. Cyrus J. Lawrence LLC bought a new position in NetApp during the 1st quarter valued at $28,000. Benjamin Edwards Inc. bought a new position in NetApp during the 4th quarter valued at $32,000. Finally, Gradient Investments LLC bought a new position in NetApp during the 4th quarter valued at $37,000. 91.91% of the stock is owned by institutional investors and hedge funds.

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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