Insider Selling: NetApp Inc. (NTAP) EVP Sells 2,525 Shares of Stock
NetApp Inc. (NASDAQ:NTAP) EVP Henri P. Richard sold 2,525 shares of the company’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $79.60, for a total value of $200,990.00. Following the transaction, the executive vice president now directly owns 70,732 shares in the company, valued at $5,630,267.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
NASDAQ:NTAP traded up $1.21 during trading on Monday, reaching $82.37. The company’s stock had a trading volume of 2,452,300 shares, compared to its average volume of 3,016,234. The company has a market capitalization of $21.43 billion, a PE ratio of 27.28, a price-to-earnings-growth ratio of 1.68 and a beta of 1.19. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.89 and a quick ratio of 1.86. NetApp Inc. has a 12 month low of $37.55 and a 12 month high of $83.60.
NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Wednesday, August 15th. The data storage provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.24. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.42 billion. NetApp had a return on equity of 33.87% and a net margin of 1.29%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.62 EPS. sell-side analysts anticipate that NetApp Inc. will post 3.53 earnings per share for the current year.
A number of equities analysts have recently weighed in on NTAP shares. Loop Capital upped their target price on NetApp to $85.00 and gave the stock a “buy” rating in a research report on Friday, May 18th. BidaskClub lowered NetApp from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 22nd. Pivotal Research set a $74.00 target price on NetApp and gave the stock a “buy” rating in a research report on Wednesday, May 23rd. Oppenheimer reaffirmed a “hold” rating on shares of NetApp in a research report on Wednesday, May 23rd. Finally, BMO Capital Markets upped their target price on NetApp from $73.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, May 24th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $76.37.
A number of large investors have recently made changes to their positions in NTAP. Moneta Group Investment Advisors LLC grew its stake in NetApp by 441.0% in the 1st quarter. Moneta Group Investment Advisors LLC now owns 1,650 shares of the data storage provider’s stock valued at $102,000 after purchasing an additional 1,345 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its stake in NetApp by 16,433.3% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,488 shares of the data storage provider’s stock valued at $116,000 after purchasing an additional 1,479 shares during the period. Fortis Advisors LLC bought a new position in NetApp in the 1st quarter valued at $127,000. Mount Yale Investment Advisors LLC bought a new position in NetApp in the 1st quarter valued at $191,000. Finally, Greenleaf Trust bought a new position in NetApp in the 2nd quarter valued at $206,000. Hedge funds and other institutional investors own 92.80% of the company’s stock.
NetApp Company Profile
NetApp, Inc provides software, systems, and services to manage and share date on-premises, and private and public clouds worldwide. It offers cloud data services, such as ONTAP cloud storage data management and NetApp cloud sync data synchronization services; NetApp SaaS backup for Microsoft Office 365; NetApp cloud backup solutions; OnCommand management software and management integration tools; and NetApp private storage for cloud.
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