NetApp, Inc. (NASDAQ:NTAP) CEO Sells $1,011,840.00 in Stock

NetApp, Inc. (NASDAQ:NTAP) CEO George Kurian sold 8,500 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $119.04, for a total transaction of $1,011,840.00. Following the completion of the sale, the chief executive officer now directly owns 266,765 shares in the company, valued at approximately $31,755,705.60. The trade was a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Tuesday, January 21st, George Kurian sold 8,500 shares of NetApp stock. The shares were sold at an average price of $123.03, for a total transaction of $1,045,755.00.
• On Monday, December 16th, George Kurian sold 8,500 shares of NetApp stock. The shares were sold at an average price of $124.29, for a total transaction of $1,056,465.00.

NetApp Stock Down 0.1 %

Shares of NTAP opened at $124.47 on Friday. NetApp, Inc. has a 12 month low of $85.28 and a 12 month high of $135.45. The firm’s 50 day moving average is $120.07 and its 200-day moving average is $121.86. The stock has a market capitalization of $25.31 billion, a PE ratio of 22.88, a P/E/G ratio of 2.96 and a beta of 1.23. 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 (NASDAQ:NTAP) last announced its earnings results on Thursday, November 21st. The data storage provider reported $1.87 EPS for the quarter, topping the consensus estimate of $1.78 by $0.09. NetApp had a net margin of 17.78% and a return on equity of 123.63%. The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period last year, the firm earned $1.23 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities research analysts forecast that NetApp, Inc. will post 5.89 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NTAP. StockNews.com raised shares of NetApp from a “hold” rating to a “buy” rating in a report on Wednesday. Morgan Stanley increased their price target on shares of NetApp from $132.00 to $146.00 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. Bank of America raised shares of NetApp from an “underperform” rating to a “neutral” rating and increased their price target for the company from $121.00 to $128.00 in a report on Wednesday. JPMorgan Chase & Co. raised shares of NetApp from a “neutral” rating to an “overweight” rating and set a $160.00 price target on the stock in a report on Monday, December 16th. Finally, TD Cowen increased their price target on shares of NetApp from $145.00 to $160.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $137.33.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Ascent Group LLC boosted its position in shares of NetApp by 21.3% during the 4th quarter. Ascent Group LLC now owns 15,879 shares of the data storage provider’s stock worth $1,843,000 after acquiring an additional 2,790 shares in the last quarter. Mackenzie Financial Corp boosted its position in shares of NetApp by 373.4% during the 4th quarter. Mackenzie Financial Corp now owns 243,504 shares of the data storage provider’s stock worth $28,266,000 after acquiring an additional 192,062 shares in the last quarter. Toronto Dominion Bank boosted its position in shares of NetApp by 36.3% during the 4th quarter. Toronto Dominion Bank now owns 125,740 shares of the data storage provider’s stock worth $14,594,000 after acquiring an additional 33,500 shares in the last quarter. Vise Technologies Inc. acquired a new stake in shares of NetApp during the 4th quarter worth approximately $249,000. Finally, Focus Partners Advisor Solutions LLC acquired a new stake in shares of NetApp during the 4th quarter worth approximately $251,000. 92.17% of the stock is owned by institutional investors.

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.