NetApp Inc. (NASDAQ:NTAP) CEO George Kurian sold 10,000 shares of the firm’s stock in a transaction on Tuesday, November 20th. The shares were sold at an average price of $66.66, for a total transaction of $666,600.00. Following the completion of the transaction, the chief executive officer now directly owns 10,244 shares of the company’s stock, valued at approximately $682,865.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

  • On Thursday, November 1st, George Kurian sold 6,000 shares of NetApp stock. The shares were sold at an average price of $78.35, for a total transaction of $470,100.00.
  • On Monday, October 22nd, George Kurian sold 11,435 shares of NetApp stock. The shares were sold at an average price of $78.46, for a total transaction of $897,190.10.
  • On Monday, October 1st, George Kurian sold 6,000 shares of NetApp stock. The shares were sold at an average price of $86.10, for a total transaction of $516,600.00.
  • On Thursday, September 20th, George Kurian sold 46,638 shares of NetApp stock. The shares were sold at an average price of $84.76, for a total transaction of $3,953,036.88.
  • On Tuesday, September 4th, George Kurian sold 6,000 shares of NetApp stock. The shares were sold at an average price of $86.61, for a total transaction of $519,660.00.

Shares of NASDAQ NTAP traded down $1.76 during mid-day trading on Wednesday, reaching $65.91. 3,534,491 shares of the company were exchanged, compared to its average volume of 2,949,217. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.63 and a current ratio of 1.65. The stock has a market cap of $17.44 billion, a PE ratio of 22.04, a P/E/G ratio of 1.19 and a beta of 1.38. NetApp Inc. has a twelve month low of $52.00 and a twelve month high of $88.08.

NetApp (NASDAQ:NTAP) last posted its earnings results on Wednesday, November 14th. The data storage provider reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. The company had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.51 billion. NetApp had a net margin of 4.70% and a return on equity of 51.50%. NetApp’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.81 EPS. As a group, analysts predict that NetApp Inc. will post 3.98 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 23rd. Stockholders of record on Friday, January 4th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend is Thursday, January 3rd. NetApp’s dividend payout ratio is presently 53.51%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. CENTRAL TRUST Co raised its stake in NetApp by 589.7% in the 3rd quarter. CENTRAL TRUST Co now owns 1,276 shares of the data storage provider’s stock worth $110,000 after purchasing an additional 1,091 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its stake in NetApp by 16,433.3% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,488 shares of the data storage provider’s stock worth $116,000 after purchasing an additional 1,479 shares in the last quarter. Cerebellum GP LLC acquired a new stake in NetApp in the 3rd quarter worth about $182,000. Checchi Capital Advisers LLC acquired a new stake in NetApp in the 3rd quarter worth about $201,000. Finally, Calamos Advisors LLC acquired a new stake in NetApp in the 3rd quarter worth about $206,000. Institutional investors own 95.59% of the company’s stock.

A number of research analysts have recently commented on the stock. Zacks Investment Research raised shares of NetApp from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a research report on Wednesday. ValuEngine downgraded shares of NetApp from a “buy” rating to a “hold” rating in a research report on Friday, November 16th. DA Davidson set a $100.00 price objective on shares of NetApp and gave the company a “buy” rating in a research report on Thursday, November 15th. Citigroup decreased their price objective on shares of NetApp from $83.00 to $77.00 and set a “neutral” rating for the company in a research report on Thursday, November 15th. Finally, Morgan Stanley lifted their price objective on shares of NetApp from $70.00 to $72.00 and gave the company a “weight” rating in a research report on Thursday, November 15th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. NetApp presently has an average rating of “Buy” and a consensus target price of $81.78.

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NetApp Company Profile

NetApp, Inc provides software, systems, and services to manage and share date on-premises, and private and public clouds worldwide. It offers cloud data services, such as ONTAP cloud storage data management and NetApp cloud sync data synchronization services; NetApp SaaS backup for Microsoft Office 365; NetApp cloud backup solutions; OnCommand management software and management integration tools; and NetApp private storage for cloud.

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