George Kurian Sells 75,000 Shares of NetApp, Inc. (NTAP) Stock

NetApp, Inc. (NASDAQ:NTAP) CEO George Kurian sold 75,000 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $52.50, for a total transaction of $3,937,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

  • On Wednesday, August 30th, George Kurian sold 4,570 shares of NetApp stock. The stock was sold at an average price of $37.98, for a total transaction of $173,568.60.

Shares of NetApp, Inc. (NASDAQ NTAP) traded up $1.78 during mid-day trading on Monday, hitting $54.73. 4,374,085 shares of the stock were exchanged, compared to its average volume of 2,987,846. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.64 and a current ratio of 1.67. The company has a market capitalization of $14,520.00, a price-to-earnings ratio of 19.91, a PEG ratio of 1.85 and a beta of 1.16. NetApp, Inc. has a twelve month low of $34.72 and a twelve month high of $54.81.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Wednesday, November 15th. The data storage provider reported $0.81 EPS for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.12. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.38 billion. NetApp had a net margin of 11.49% and a return on equity of 26.77%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 earnings per share. equities analysts predict that NetApp, Inc. will post 2.53 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Friday, January 5th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Thursday, January 4th. NetApp’s dividend payout ratio (DPR) is currently 34.33%.

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A number of hedge funds and other institutional investors have recently bought and sold shares of NTAP. Capstone Asset Management Co. raised its position in NetApp by 3.8% during the second quarter. Capstone Asset Management Co. now owns 20,741 shares of the data storage provider’s stock worth $831,000 after acquiring an additional 753 shares in the last quarter. Bank of Montreal Can raised its position in NetApp by 6.0% during the second quarter. Bank of Montreal Can now owns 189,736 shares of the data storage provider’s stock worth $7,600,000 after acquiring an additional 10,767 shares in the last quarter. LS Investment Advisors LLC raised its position in NetApp by 6.3% during the second quarter. LS Investment Advisors LLC now owns 10,270 shares of the data storage provider’s stock worth $411,000 after acquiring an additional 610 shares in the last quarter. Louisiana State Employees Retirement System raised its position in NetApp by 0.6% during the second quarter. Louisiana State Employees Retirement System now owns 16,800 shares of the data storage provider’s stock worth $673,000 after acquiring an additional 100 shares in the last quarter. Finally, Aperio Group LLC raised its position in NetApp by 6.6% during the second quarter. Aperio Group LLC now owns 120,090 shares of the data storage provider’s stock worth $4,810,000 after acquiring an additional 7,400 shares in the last quarter. 97.27% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have recently commented on NTAP. ValuEngine upgraded shares of NetApp from a “hold” rating to a “buy” rating in a research note on Thursday. Argus increased their price target on shares of NetApp from $46.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday. Royal Bank Of Canada raised their target price on shares of NetApp from $45.00 to $50.00 and gave the company a “sector perform” rating in a research note on Monday, November 13th. Piper Jaffray Companies set a $52.00 target price on shares of NetApp and gave the company a “buy” rating in a research note on Tuesday, November 14th. Finally, DA Davidson raised their target price on shares of NetApp from $53.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, November 14th. Two equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fourteen have given a buy rating to the company. NetApp has an average rating of “Hold” and an average target price of $48.68.

NetApp Company Profile

NetApp, Inc (NetApp) provides software, systems and services to manage and store customer data. The Company enables enterprises, service providers, governmental organizations, and partners to envision, deploy and evolve their information technology (IT) environments. The Company offers a portfolio of products and services that satisfy a range of customer workloads across different data types and deployment models.

Insider Buying and Selling by Quarter for NetApp (NASDAQ:NTAP)

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