NetApp (NASDAQ:NTAP) CEO George Kurian Sells 50,000 Shares of Stock

October 2, 2026 by InsiderTrades.com

Key Points

CEO George Kurian sold 50,000 NetApp shares at an average price of $209.95, generating approximately $10.5 million and reducing his direct ownership by 18.62% to 218,537 shares.
NetApp reported strong quarterly results, with EPS of $2.58 beating estimates by $0.46 and revenue of $2.02 billion rising 29.9% year over year. The company also declared a quarterly dividend of $0.52 per share, representing a 1.0% yield.
Analyst sentiment remains mixed: Bank of America raised its price target to $220, while the broader analyst consensus remains a “Hold” with a target price of $194.86, below the stock’s reported $215.05 price.

NetApp, Inc. (NASDAQ:NTAP - Get Free Report) CEO George Kurian sold 50,000 shares of the stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $209.95, for a total transaction of $10,497,500.00. Following the sale, the chief executive officer directly owned 218,537 shares of the company's stock, valued at $45,881,843.15. The trade was a 18.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

On Thursday, September 24th, George Kurian sold 37,000 shares of NetApp stock. The shares were sold at an average price of $199.95, for a total transaction of $7,398,150.00.
On Monday, September 21st, George Kurian sold 13,000 shares of NetApp stock. The shares were sold at an average price of $200.01, for a total transaction of $2,600,130.00.
On Monday, September 14th, George Kurian sold 40,000 shares of NetApp stock. The stock was sold at an average price of $191.42, for a total transaction of $7,656,800.00.

NetApp Stock Up 2.4%

NASDAQ NTAP opened at $215.05 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.24 and a quick ratio of 1.16. The stock has a market capitalization of $42.24 billion, a PE ratio of 30.33, a PEG ratio of 2.26 and a beta of 1.46. NetApp, Inc. has a 1 year low of $93.69 and a 1 year high of $216.81. The business's 50-day moving average is $191.52 and its 200 day moving average is $154.03.

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NetApp (NASDAQ:NTAP - Get Free Report) last released its quarterly earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 EPS for the quarter, beating analysts' consensus estimates of $2.12 by $0.46. The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.84 billion. NetApp had a return on equity of 119.13% and a net margin of 19.18%.NetApp's quarterly revenue was up 29.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.15 EPS. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. Sell-side analysts forecast that NetApp, Inc. will post 8.32 earnings per share for the current year.

NetApp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Friday, October 9th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, October 9th. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. NetApp's payout ratio is 29.34%.

Key NetApp News

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Here are the key news stories impacting NetApp this week:

Positive Sentiment: Bank of America raised its price target, saying NetApp’s AI opportunity could support faster growth. Analysts also reacted favorably to the company’s newly announced architecture for AI factories, potentially strengthening confidence in future demand. NetApp’s AI opportunity can support higher growth NetApp introduces new architecture for AI factories
Positive Sentiment: New collaborations with Oracle, SAP and Supermicro are expanding NetApp’s cloud and AI ecosystem. The Oracle relationship received additional attention after Oracle highlighted a NetApp storage partnership alongside its AI product announcements. NetApp’s new partnerships and AI strategy Oracle AI launch and NetApp partnership
Positive Sentiment: NetApp’s Keystone Sovereign service is targeting Europe’s regulated-data market, where customers increasingly require stronger regional and operational control. This could broaden the company’s addressable market. NetApp’s Keystone Sovereign targets Europe
Neutral Sentiment: NetApp recognized its North American partners for fiscal 2026, reinforcing its channel relationships, although the awards announcement is unlikely to materially affect near-term earnings. NetApp recognizes 2026 North America Partner Award winners
Neutral Sentiment: Analyst opinion remains divided: some see upside from AI and data infrastructure, while others view the current valuation and risk/reward profile as less attractive. Analysts have conflicting sentiments on NetApp
Negative Sentiment: CEO George Kurian sold 50,000 shares in a disclosed, preplanned transaction worth approximately $10.5 million. The sale reduces his ownership, but its planned nature limits the bearish signal. NetApp CEO sells shares in preplanned sale

Institutional Trading of NetApp

Hedge funds and other institutional investors have recently modified their holdings of the business. Parallel Advisors LLC increased its position in shares of NetApp by 2.1% during the 4th quarter. Parallel Advisors LLC now owns 5,007 shares of the data storage provider's stock valued at $536,000 after purchasing an additional 101 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of NetApp by 3.0% in the first quarter. Assetmark Inc. now owns 3,540 shares of the data storage provider's stock worth $362,000 after buying an additional 104 shares during the last quarter. MRWM Advisors LLC grew its position in NetApp by 1.8% during the first quarter. MRWM Advisors LLC now owns 6,794 shares of the data storage provider's stock valued at $696,000 after buying an additional 122 shares during the period. Frank Rimerman Advisors LLC increased its holdings in NetApp by 2.4% during the first quarter. Frank Rimerman Advisors LLC now owns 5,578 shares of the data storage provider's stock valued at $571,000 after buying an additional 131 shares during the last quarter. Finally, Cozad Asset Management Inc. increased its holdings in NetApp by 7.1% during the first quarter. Cozad Asset Management Inc. now owns 2,175 shares of the data storage provider's stock valued at $223,000 after buying an additional 145 shares during the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on NTAP. Argus set a $225.00 price objective on shares of NetApp in a research report on Friday, September 11th. Citigroup reduced their price target on shares of NetApp from $209.00 to $190.00 and set a "neutral" rating on the stock in a research report on Thursday, September 3rd. Zacks Research raised shares of NetApp from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 9th. TD Cowen reaffirmed a "buy" rating and set a $200.00 price objective on shares of NetApp in a research report on Thursday, September 3rd. Finally, Bank of America upped their target price on NetApp from $200.00 to $220.00 and gave the stock a "neutral" rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $194.86.

Read Our Latest Research Report on NTAP

NetApp Company Profile

(Get Free Report)

NetApp, Inc develops intelligent data infrastructure and data management solutions for enterprises, service providers, and government organizations. The company helps customers store, manage, protect, and access data across on-premises environments, private clouds, public clouds, and hybrid multicloud infrastructures.

Its portfolio includes enterprise storage systems, all-flash arrays, cloud-connected storage, object storage, and data management software. NetApp's offerings include the ONTAP data management operating system, AFF and ASA storage systems, StorageGRID object storage, and BlueXP, a platform designed to help customers manage data and storage resources across multiple environments.