George Kurian Sells 75,000 Shares of NetApp, Inc. (NTAP) Stock
NetApp, Inc. (NASDAQ:NTAP) CEO George Kurian sold 75,000 shares of the stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $52.50, for a total transaction of $3,937,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
George Kurian also recently made the following trade(s):
- On Wednesday, August 30th, George Kurian sold 4,570 shares of NetApp stock. The stock was sold at an average price of $37.98, for a total transaction of $173,568.60.
Shares of NetApp, Inc. (NASDAQ:NTAP) opened at $55.08 on Wednesday. The firm has a market cap of $14,763.83, a PE ratio of 20.58, a PEG ratio of 1.77 and a beta of 1.16. NetApp, Inc. has a 1 year low of $34.72 and a 1 year high of $55.50. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.67 and a quick ratio of 1.64.
NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Wednesday, November 15th. The data storage provider reported $0.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.12. NetApp had a net margin of 11.49% and a return on equity of 26.77%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period in the previous year, the business posted $0.60 EPS. The company’s quarterly revenue was up 6.1% on a year-over-year basis. equities research analysts forecast that NetApp, Inc. will post 2.72 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Friday, January 5th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Thursday, January 4th. NetApp’s dividend payout ratio (DPR) is presently 34.33%.
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Several research analysts recently issued reports on NTAP shares. Citigroup Inc. increased their price target on shares of NetApp from $41.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, August 17th. ValuEngine raised shares of NetApp from a “hold” rating to a “buy” rating in a report on Thursday, November 16th. Susquehanna Bancshares Inc reissued a “positive” rating and set a $50.00 price target (up from $48.00) on shares of NetApp in a report on Wednesday, August 16th. DA Davidson increased their price target on shares of NetApp from $53.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, November 14th. Finally, BMO Capital Markets raised shares of NetApp from a “market perform” rating to an “outperform” rating and increased their target price for the company from $43.00 to $62.00 in a report on Thursday, November 16th. Two research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. NetApp currently has a consensus rating of “Hold” and a consensus price target of $48.68.
A number of institutional investors have recently bought and sold shares of NTAP. Capstone Asset Management Co. boosted its stake in NetApp by 3.8% during the 2nd quarter. Capstone Asset Management Co. now owns 20,741 shares of the data storage provider’s stock valued at $831,000 after purchasing an additional 753 shares during the period. Bank of Montreal Can boosted its stake in NetApp by 6.0% during the 2nd quarter. Bank of Montreal Can now owns 189,736 shares of the data storage provider’s stock valued at $7,600,000 after purchasing an additional 10,767 shares during the period. LS Investment Advisors LLC boosted its stake in NetApp by 6.3% during the 2nd quarter. LS Investment Advisors LLC now owns 10,270 shares of the data storage provider’s stock valued at $411,000 after purchasing an additional 610 shares during the period. Louisiana State Employees Retirement System boosted its stake in NetApp by 0.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 16,800 shares of the data storage provider’s stock valued at $673,000 after purchasing an additional 100 shares during the period. Finally, Aperio Group LLC boosted its stake in NetApp by 6.6% during the 2nd quarter. Aperio Group LLC now owns 120,090 shares of the data storage provider’s stock valued at $4,810,000 after purchasing an additional 7,400 shares during the period. 97.27% of the stock is owned by hedge funds and other institutional investors.
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.
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