NetApp Inc. (NTAP) CEO Sells $470,100.00 in Stock

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NetApp Inc. (NASDAQ:NTAP) CEO George Kurian sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $78.35, for a total transaction of $470,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction of $2,993,611.74.

Shares of NTAP stock traded up $1.21 during trading hours on Monday, hitting $80.12. 1,430,578 shares of the company were exchanged, compared to its average volume of 2,882,356. The company has a market cap of $20.46 billion, a price-to-earnings ratio of 26.80, a price-to-earnings-growth ratio of 1.42 and a beta of 1.38. NetApp Inc. has a fifty-two week low of $44.02 and a fifty-two week high of $88.08. The company has a quick ratio of 2.03, a current ratio of 2.06 and a debt-to-equity ratio of 0.80.

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

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 24th. Stockholders of record on Friday, October 5th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Thursday, October 4th. NetApp’s dividend payout ratio (DPR) is 53.51%.

Several hedge funds have recently made changes to their positions in the company. CENTRAL TRUST Co grew its position in NetApp by 589.7% in the 3rd quarter. CENTRAL TRUST Co now owns 1,276 shares of the data storage provider’s stock valued at $110,000 after purchasing an additional 1,091 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its position in NetApp by 16,433.3% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,488 shares of the data storage provider’s stock valued at $116,000 after purchasing an additional 1,479 shares during the period. Cerebellum GP LLC acquired a new stake in NetApp in the 3rd quarter valued at $182,000. Checchi Capital Advisers LLC acquired a new stake in NetApp in the 3rd quarter valued at $201,000. Finally, Greenleaf Trust acquired a new stake in NetApp in the 2nd quarter valued at $206,000. 95.52% of the stock is owned by institutional investors.

A number of research analysts recently issued reports on the stock. Bank of America raised their price objective on shares of NetApp from $88.00 to $90.00 and gave the company a “buy” rating in a report on Monday, August 13th. Guggenheim assumed coverage on shares of NetApp in a report on Thursday, July 12th. They set a “buy” rating and a $94.00 price target for the company. Zacks Investment Research upgraded shares of NetApp from a “hold” rating to a “strong-buy” rating and set a $93.00 price target for the company in a report on Tuesday, August 21st. JPMorgan Chase & Co. restated a “buy” rating and set a $92.00 price target on shares of NetApp in a report on Thursday, August 16th. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $90.00 price target on shares of NetApp in a report on Thursday, August 16th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $81.17.

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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.

Read More: Compound Annual Growth Rate (CAGR)

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