George Kurian Sells 4,000 Shares of NetApp Inc. (NTAP) Stock
NetApp Inc. (NASDAQ:NTAP) CEO George Kurian sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $35.16, for a total value of $140,640.00. Following the completion of the sale, the chief executive officer now owns 40,570 shares of the company’s stock, valued at approximately $1,426,441.20. The transaction 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 Friday, August 26th, George Kurian sold 48,176 shares of NetApp stock. The stock was sold at an average price of $34.87, for a total value of $1,679,897.12.
Shares of NetApp Inc. (NASDAQ:NTAP) opened at 35.36 on Tuesday. The firm has a 50-day moving average price of $34.51 and a 200 day moving average price of $27.57. NetApp Inc. has a 12-month low of $20.66 and a 12-month high of $36.10. The company has a market capitalization of $9.85 billion, a P/E ratio of 31.83 and a beta of 1.58.
NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, August 17th. The data storage provider reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.10. The business earned $1.29 billion during the quarter, compared to analyst estimates of $1.26 billion. NetApp had a return on equity of 15.82% and a net margin of 5.87%. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period last year, the company earned $0.29 EPS. On average, equities research analysts predict that NetApp Inc. will post $2.36 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Friday, October 7th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Wednesday, October 5th. NetApp’s payout ratio is 68.47%.
A number of analysts recently weighed in on the company. Summit Redstone restated a “sell” rating on shares of NetApp in a research report on Tuesday, June 21st. Jefferies Group restated a “hold” rating and issued a $29.00 target price (up previously from $24.00) on shares of NetApp in a research report on Thursday, August 18th. Citigroup Inc. boosted their target price on NetApp from $26.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, August 18th. Robert W. Baird restated a “neutral” rating and issued a $37.00 target price (up previously from $32.00) on shares of NetApp in a research report on Wednesday, September 28th. Finally, BTIG Research restated a “neutral” rating on shares of NetApp in a research report on Thursday, August 18th. Ten equities research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and six have assigned a buy rating to the stock. NetApp presently has an average rating of “Hold” and a consensus target price of $30.16.
Several large investors have recently bought and sold shares of the stock. Sirios Capital Management L P bought a new stake in NetApp during the second quarter valued at about $61,213,000. Primecap Management Co. CA raised its stake in NetApp by 3.7% in the first quarter. Primecap Management Co. CA now owns 43,514,951 shares of the data storage provider’s stock valued at $1,187,523,000 after buying an additional 1,562,403 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in NetApp by 14.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 9,225,320 shares of the data storage provider’s stock valued at $226,851,000 after buying an additional 1,189,529 shares during the last quarter. Dodge & Cox raised its stake in NetApp by 3.4% in the first quarter. Dodge & Cox now owns 36,034,991 shares of the data storage provider’s stock valued at $983,395,000 after buying an additional 1,184,500 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. raised its stake in NetApp by 2,289.5% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 974,669 shares of the data storage provider’s stock valued at $23,967,000 after buying an additional 933,879 shares during the last quarter. 89.54% of the stock is owned by institutional investors and hedge funds.
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.
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