NetApp, Inc. (NASDAQ:NTAP) CEO George Kurian Sells 2,125 Shares

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 value of $148,750.00. Following the transaction, the chief executive officer now owns 154,004 shares in the company, valued at $10,780,280. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

Shares of NetApp stock opened at $73.05 on Friday. The firm 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 fifty-two week low of $64.58 and a fifty-two week high of $96.82. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.51 and a current ratio of 1.55. The stock has a 50 day moving average of $76.64 and a 200 day moving average of $84.19.

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

A number of institutional investors have recently modified their holdings of NTAP. Wellington Management Group LLP grew its position in NetApp by 70.3% in the first quarter. Wellington Management Group LLP now owns 8,329,363 shares of the data storage provider’s stock worth $691,339,000 after acquiring an additional 3,439,053 shares during the period. Norges Bank acquired a new position in NetApp during the fourth quarter worth $204,555,000. Acadian Asset Management LLC lifted its stake in NetApp by 187.4% during the fourth quarter. Acadian Asset Management LLC now owns 1,528,645 shares of the data storage provider’s stock worth $140,587,000 after purchasing an additional 996,785 shares in the last quarter. Millennium Management LLC lifted its stake in NetApp by 3,085.7% during the fourth quarter. Millennium Management LLC now owns 678,082 shares of the data storage provider’s stock worth $62,377,000 after purchasing an additional 656,797 shares in the last quarter. Finally, Ardevora Asset Management LLP acquired a new position in NetApp during the first quarter worth $53,709,000. Institutional investors own 91.91% of the company’s stock.

Several analysts have weighed in on NTAP shares. Susquehanna Bancshares boosted their price target on NetApp from $105.00 to $110.00 and gave the company a “positive” rating in a research note on Thursday, February 24th. Wedbush reissued a “neutral” rating and issued a $85.00 price objective on shares of NetApp in a report on Wednesday, March 23rd. StockNews.com cut NetApp from a “buy” rating to a “hold” rating in a report on Friday. William Blair reissued an “outperform” rating on shares of NetApp in a report on Wednesday, March 23rd. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on NetApp from $85.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, March 23rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, NetApp presently has an average rating of “Buy” and an average target price of $98.63.

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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