NetApp, Inc. (NASDAQ:NTAP) CEO Sells $695,555.00 in Stock

NetApp, Inc. (NASDAQ:NTAP) CEO George Kurian sold 8,500 shares of the firm’s stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $81.83, for a total transaction of $695,555.00. Following the sale, the chief executive officer now directly owns 249,765 shares of the company’s stock, valued at $20,438,269.95. This trade represents a 3.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, February 18th, George Kurian sold 8,500 shares of NetApp stock. The shares were sold at an average price of $119.04, for a total value of $1,011,840.00.

NetApp Trading Up 3.9 %

NetApp stock opened at $88.17 on Friday. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $135.45. The firm has a market capitalization of $17.93 billion, a price-to-earnings ratio of 16.21, a P/E/G ratio of 2.45 and a beta of 1.31. The firm has a 50 day moving average of $93.51 and a 200 day moving average of $111.78. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39.

NetApp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, April 4th. This represents a $2.08 annualized dividend and a dividend yield of 2.36%. NetApp’s payout ratio is 38.52%.

Institutional Investors Weigh In On NetApp

A number of institutional investors have recently bought and sold shares of NTAP. 3Chopt Investment Partners LLC bought a new position in shares of NetApp in the first quarter worth about $471,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in NetApp by 20.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 59,357 shares of the data storage provider’s stock worth $5,247,000 after purchasing an additional 10,080 shares during the period. Achmea Investment Management B.V. grew its holdings in NetApp by 55.8% during the 1st quarter. Achmea Investment Management B.V. now owns 221,907 shares of the data storage provider’s stock valued at $19,492,000 after buying an additional 79,457 shares in the last quarter. Diversified Trust Co raised its position in shares of NetApp by 17.8% during the first quarter. Diversified Trust Co now owns 54,533 shares of the data storage provider’s stock valued at $4,790,000 after buying an additional 8,241 shares during the last quarter. Finally, Sylvest Advisors LLC lifted its holdings in shares of NetApp by 9.9% in the first quarter. Sylvest Advisors LLC now owns 8,127 shares of the data storage provider’s stock worth $714,000 after buying an additional 731 shares in the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Wedbush reaffirmed a “neutral” rating and set a $110.00 price objective (down from $120.00) on shares of NetApp in a research report on Friday, February 28th. Bank of America raised shares of NetApp from an “underperform” rating to a “neutral” rating and raised their price target for the company from $121.00 to $128.00 in a report on Wednesday, February 19th. TD Cowen decreased their price objective on shares of NetApp from $160.00 to $130.00 and set a “buy” rating for the company in a report on Friday, February 28th. JPMorgan Chase & Co. dropped their target price on shares of NetApp from $153.00 to $113.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Finally, Loop Capital decreased their target price on shares of NetApp from $150.00 to $130.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Twelve equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $125.07.

About NetApp

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.