NetApp, Inc. (NASDAQ:NTAP) CEO Sells $876,860.00 in Stock

NetApp, Inc. (NASDAQ:NTAP) CEO George Kurian sold 8,500 shares of NetApp stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $103.16, for a total transaction of $876,860.00. Following the completion of the sale, the chief executive officer now owns 252,702 shares in the company, valued at $26,068,738.32. 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 Tuesday, March 19th, George Kurian sold 8,500 shares of NetApp stock. The stock was sold at an average price of $101.44, for a total transaction of $862,240.00.

NetApp Trading Down 2.2 %

Shares of NetApp stock opened at $97.95 on Friday. The firm has a 50-day moving average of $98.99 and a 200-day moving average of $88.42. The stock has a market cap of $20.21 billion, a PE ratio of 22.26, a PEG ratio of 2.23 and a beta of 1.28. NetApp, Inc. has a 52-week low of $60.92 and a 52-week high of $112.48. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.11 and a current ratio of 1.15.

NetApp (NASDAQ:NTAP) last announced its earnings results on Thursday, February 29th. The data storage provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.25. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.59 billion. NetApp had a net margin of 15.21% and a return on equity of 109.49%. NetApp’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.02 earnings per share. As a group, sell-side analysts forecast that NetApp, Inc. will post 5.16 EPS for the current year.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Friday, April 5th will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, April 4th. This represents a $2.00 annualized dividend and a yield of 2.04%. NetApp’s dividend payout ratio is 45.45%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NTAP. JPMorgan Chase & Co. boosted their target price on shares of NetApp from $87.00 to $95.00 and gave the stock an “underweight” rating in a report on Friday, March 1st. Stifel Nicolaus restated a “buy” rating and set a $120.00 target price (up from $105.00) on shares of NetApp in a report on Friday, March 1st. Raymond James restated a “market perform” rating on shares of NetApp in a report on Tuesday, January 16th. Barclays boosted their target price on shares of NetApp from $80.00 to $100.00 and gave the stock an “equal weight” rating in a report on Friday, March 1st. Finally, Wedbush upped their price objective on shares of NetApp from $85.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, March 1st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, NetApp currently has an average rating of “Hold” and a consensus target price of $97.94.

Institutional Investors Weigh In On NetApp

Institutional investors and hedge funds have recently bought and sold shares of the company. Rise Advisors LLC bought a new stake in NetApp during the first quarter worth about $27,000. ORG Partners LLC lifted its holdings in shares of NetApp by 14,650.0% in the fourth quarter. ORG Partners LLC now owns 295 shares of the data storage provider’s stock worth $26,000 after acquiring an additional 293 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of NetApp by 58.7% in the fourth quarter. First Horizon Advisors Inc. now owns 311 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 115 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of NetApp by 82.9% in the fourth quarter. UMB Bank n.a. now owns 331 shares of the data storage provider’s stock worth $29,000 after acquiring an additional 150 shares during the last quarter. Finally, Larson Financial Group LLC bought a new position in shares of NetApp in the third quarter worth about $27,000. Institutional investors own 92.17% of the company’s stock.

NetApp Company Profile

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.