NetApp Inc. (NASDAQ:NTAP) CEO George Kurian sold 4,000 shares of the company’s stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $35.16, for a total transaction of $140,640.00. Following the sale, the chief executive officer now directly owns 40,570 shares of the company’s stock, valued at approximately $1,426,441.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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 transaction of $1,679,897.12.

Shares of NetApp Inc. (NASDAQ:NTAP) opened at 35.36 on Tuesday. NetApp Inc. has a 12 month low of $20.66 and a 12 month high of $36.10. The stock’s 50 day moving average is $34.51 and its 200 day moving average is $27.57. The firm has a market cap of $9.85 billion, a P/E ratio of 31.83 and a beta of 1.58.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Wednesday, August 17th. The data storage provider reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.10. The firm earned $1.29 billion during the quarter, compared to the consensus estimate 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 quarter last year, the company posted $0.29 EPS. Equities research analysts expect that NetApp Inc. will post $2.36 EPS for the current year.

Insider Buying and Selling by Quarter for NetApp (NASDAQ:NTAP)

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Friday, October 7th will be given a dividend of $0.19 per share. The ex-dividend date is Wednesday, October 5th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.15%. NetApp’s dividend payout ratio (DPR) is presently 68.47%.

NTAP has been the subject of several recent analyst reports. Summit Research initiated coverage on shares of NetApp in a research report on Wednesday, June 22nd. They set a “sell” rating for the company. Robert W. Baird reaffirmed a “neutral” rating and set a $26.00 price objective on shares of NetApp in a research report on Monday, June 27th. Summit Redstone reaffirmed a “sell” rating on shares of NetApp in a research report on Tuesday, June 21st. BMO Capital Markets reaffirmed a “neutral” rating and set a $26.00 price objective on shares of NetApp in a research report on Wednesday, June 29th. Finally, Zacks Investment Research cut shares of NetApp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 26th. Ten investment analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and six have issued a buy rating to the company’s stock. NetApp currently has an average rating of “Hold” and a consensus target price of $30.16.

Several hedge funds have recently modified their holdings of the stock. Global X Management Co. LLC increased its stake in NetApp by 109.8% in the second quarter. Global X Management Co. LLC now owns 4,485 shares of the data storage provider’s stock worth $110,000 after buying an additional 2,347 shares during the last quarter. FTB Advisors Inc. increased its stake in NetApp by 14.3% in the second quarter. FTB Advisors Inc. now owns 5,154 shares of the data storage provider’s stock worth $126,000 after buying an additional 646 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in NetApp by 3.2% in the second quarter. Thrivent Financial for Lutherans now owns 8,840 shares of the data storage provider’s stock worth $217,000 after buying an additional 270 shares during the last quarter. First Allied Advisory Services Inc. increased its stake in NetApp by 6.7% in the second quarter. First Allied Advisory Services Inc. now owns 10,481 shares of the data storage provider’s stock worth $249,000 after buying an additional 655 shares during the last quarter. Finally, Creative Planning increased its stake in NetApp by 248.6% in the second quarter. Creative Planning now owns 10,495 shares of the data storage provider’s stock worth $258,000 after buying an additional 7,484 shares during the last quarter. Hedge funds and other institutional investors own 89.54% of the company’s stock.

NetApp Company Profile

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.

5 Day Chart for NASDAQ:NTAP

Receive News & Stock Ratings for NetApp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetApp Inc. and related stocks with our FREE daily email newsletter.