NetApp, Inc. (NASDAQ:NTAP) CEO George Kurian Sells 8,500 Shares

NetApp, Inc. (NASDAQ:NTAP) CEO George Kurian sold 8,500 shares of NetApp stock in a transaction on Monday, November 18th. The stock was sold at an average price of $118.00, for a total transaction of $1,003,000.00. Following the transaction, the chief executive officer now owns 288,282 shares in the company, valued at $34,017,276. This represents a 2.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, October 21st, George Kurian sold 8,500 shares of NetApp stock. The stock was sold at an average price of $126.11, for a total value of $1,071,935.00.

NetApp Trading Up 2.4 %

Shares of NTAP stock opened at $122.20 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $25.02 billion, a price-to-earnings ratio of 23.87, a price-to-earnings-growth ratio of 3.01 and a beta of 1.24. NetApp, Inc. has a 12-month low of $77.08 and a 12-month high of $135.01. The stock’s 50-day moving average price is $121.41 and its 200-day moving average price is $122.35.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Wednesday, August 28th. The data storage provider reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.11. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. NetApp had a return on equity of 121.41% and a net margin of 17.01%. The company’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 EPS. Equities research analysts predict that NetApp, Inc. will post 5.71 EPS for the current fiscal year.

NetApp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Friday, October 4th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date was Friday, October 4th. NetApp’s payout ratio is 40.63%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. JPMorgan Chase & Co. boosted their price target on NetApp from $146.00 to $147.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Evercore ISI increased their target price on shares of NetApp from $120.00 to $130.00 and gave the stock an “in-line” rating in a report on Monday, August 12th. Loop Capital upgraded shares of NetApp from a “hold” rating to a “buy” rating and raised their target price for the stock from $121.00 to $150.00 in a research note on Tuesday, September 3rd. UBS Group upped their price target on shares of NetApp from $121.00 to $134.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Finally, Oppenheimer started coverage on shares of NetApp in a research report on Wednesday, November 13th. They set a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $129.06.

Hedge Funds Weigh In On NetApp

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Hollencrest Capital Management purchased a new stake in shares of NetApp during the 2nd quarter valued at about $26,000. Northwest Investment Counselors LLC purchased a new position in NetApp in the third quarter worth about $27,000. New Covenant Trust Company N.A. bought a new stake in NetApp during the first quarter worth approximately $28,000. Redwood Wealth Management Group LLC purchased a new stake in NetApp during the second quarter valued at approximately $32,000. Finally, Crewe Advisors LLC bought a new stake in shares of NetApp in the 1st quarter valued at approximately $35,000. 92.17% of the stock is owned by hedge funds and other institutional investors.

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.