NetApp, Inc. (NASDAQ:NTAP) CEO George Kurian Sells 4,500 Shares

NetApp, Inc. (NASDAQ:NTAP) CEO George Kurian sold 4,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $78.37, for a total value of $352,665.00. Following the sale, the chief executive officer now owns 272,136 shares of the company’s stock, valued at approximately $21,327,298.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, July 11th, George Kurian sold 4,500 shares of NetApp stock. The shares were sold at an average price of $78.52, for a total transaction of $353,340.00.

NetApp Stock Performance

Shares of NTAP stock opened at $78.55 on Friday. The company’s fifty day simple moving average is $77.66 and its 200-day simple moving average is $70.53. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 2.74. NetApp, Inc. has a 52 week low of $58.08 and a 52 week high of $80.53. The company has a market cap of $16.40 billion, a PE ratio of 14.20, a P/E/G ratio of 2.18 and a beta of 1.22.

NetApp (NASDAQ:NTAP) last announced its earnings results on Wednesday, August 23rd. The data storage provider reported $1.15 EPS for the quarter, beating the consensus estimate of $1.07 by $0.08. NetApp had a return on equity of 85.69% and a net margin of 19.49%. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period last year, the business posted $0.97 EPS. The company’s revenue was down 10.1% on a year-over-year basis. As a group, equities research analysts anticipate that NetApp, Inc. will post 4.48 EPS for the current year.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Friday, October 6th will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $2.00 dividend on an annualized basis and a yield of 2.55%. NetApp’s payout ratio is currently 36.17%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NTAP. Massmutual Trust Co. FSB ADV grew its position in shares of NetApp by 52.2% during the first quarter. Massmutual Trust Co. FSB ADV now owns 443 shares of the data storage provider’s stock worth $28,000 after buying an additional 152 shares in the last quarter. Sunbelt Securities Inc. acquired a new stake in shares of NetApp in the 1st quarter valued at about $28,000. Global Retirement Partners LLC grew its stake in NetApp by 51.6% in the first quarter. Global Retirement Partners LLC now owns 464 shares of the data storage provider’s stock worth $29,000 after purchasing an additional 158 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in NetApp during the fourth quarter valued at approximately $31,000. Finally, Caldwell Sutter Capital Inc. bought a new position in NetApp during the 1st quarter worth approximately $34,000. Institutional investors and hedge funds own 90.25% of the company’s stock.

Analyst Ratings Changes

NTAP has been the topic of a number of analyst reports. Susquehanna upgraded NetApp from a “neutral” rating to a “positive” rating and lifted their price target for the company from $62.00 to $100.00 in a research note on Tuesday, September 5th. Stifel Nicolaus upped their target price on shares of NetApp from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, August 24th. Evercore ISI upped their price target on NetApp from $72.00 to $80.00 in a report on Wednesday, July 5th. TD Cowen boosted their target price on NetApp from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, August 24th. Finally, StockNews.com upgraded shares of NetApp from a “hold” rating to a “buy” rating in a report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $78.35.

NetApp Company Profile

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.