NetApp, Inc. (NASDAQ:NTAP - Get Free Report) CEO George Kurian sold 8,500 shares of the business's stock in a transaction on Monday, April 15th. The stock was sold at an average price of $103.16, for a total transaction of $876,860.00. Following the completion of the transaction, the chief executive officer now directly owns 252,702 shares in the company, valued at approximately $26,068,738.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
George Kurian also recently made the following trade(s):
- On Tuesday, March 19th, George Kurian sold 8,500 shares of NetApp stock. The stock was sold at an average price of $101.44, for a total transaction of $862,240.00.
NetApp Trading Down 1.6 %
NASDAQ NTAP opened at $100.91 on Thursday. The company's 50-day moving average price is $98.61 and its 200-day moving average price is $88.18. The company has a current ratio of 1.15, a quick ratio of 1.11 and a debt-to-equity ratio of 2.00. The stock has a market cap of $20.83 billion, a PE ratio of 22.93, a PEG ratio of 2.26 and a beta of 1.28. NetApp, Inc. has a 12 month low of $60.92 and a 12 month high of $112.48.
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NetApp (NASDAQ:NTAP - Get Free Report) last posted its quarterly earnings results on Thursday, February 29th. The data storage provider reported $1.94 EPS for the quarter, topping analysts' consensus estimates of $1.69 by $0.25. The firm had revenue of $1.61 billion for the quarter, compared to analysts' expectations of $1.59 billion. NetApp had a net margin of 15.21% and a return on equity of 109.49%. The business's revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.02 earnings per share. Equities research analysts forecast that NetApp, Inc. will post 5.16 earnings per share for the current year.
NetApp Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Friday, April 5th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Thursday, April 4th. NetApp's payout ratio is presently 45.45%.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the stock. Occidental Asset Management LLC lifted its stake in NetApp by 3.5% in the first quarter. Occidental Asset Management LLC now owns 37,463 shares of the data storage provider's stock worth $3,932,000 after acquiring an additional 1,281 shares during the period. Kathmere Capital Management LLC purchased a new stake in NetApp in the first quarter worth about $220,000. Capital Insight Partners LLC lifted its stake in NetApp by 42.3% in the first quarter. Capital Insight Partners LLC now owns 6,636 shares of the data storage provider's stock worth $697,000 after acquiring an additional 1,972 shares during the period. Artemis Investment Management LLP purchased a new stake in NetApp in the first quarter worth about $2,649,000. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in NetApp by 38.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 54,850 shares of the data storage provider's stock worth $5,758,000 after acquiring an additional 15,200 shares during the period. 92.17% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on the stock. Citigroup upped their price target on shares of NetApp from $90.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, March 5th. Evercore ISI upped their price target on shares of NetApp from $95.00 to $105.00 and gave the company an "in-line" rating in a research note on Friday, March 1st. JPMorgan Chase & Co. upped their price target on shares of NetApp from $87.00 to $95.00 and gave the company an "underweight" rating in a research note on Friday, March 1st. Argus raised shares of NetApp from a "hold" rating to a "buy" rating and set a $130.00 price target on the stock in a research note on Monday, March 4th. Finally, Wedbush upped their price target on shares of NetApp from $85.00 to $100.00 and gave the company a "neutral" rating in a research note on Friday, March 1st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $97.94.
Get Our Latest Stock Analysis on NTAP
About NetApp
(
Get Free Report)
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.
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