George Kurian Sells 2,125 Shares of NetApp, Inc. (NASDAQ:NTAP) Stock

NetApp, Inc. (NASDAQ:NTAPGet Rating) CEO George Kurian sold 2,125 shares of the stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $66.95, for a total transaction of $142,268.75. Following the completion of the sale, the chief executive officer now directly owns 156,129 shares of the company’s stock, valued at approximately $10,452,836.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

  • On Monday, April 18th, George Kurian sold 4,250 shares of NetApp stock. The stock was sold at an average price of $75.50, for a total transaction of $320,875.00.
  • On Monday, March 21st, George Kurian sold 4,250 shares of NetApp stock. The shares were sold at an average price of $89.86, for a total value of $381,905.00.

Shares of NASDAQ NTAP opened at $69.44 on Thursday. The stock has a market capitalization of $15.45 billion, a PE ratio of 15.71, a P/E/G ratio of 1.73 and a beta of 1.24. The company has a debt-to-equity ratio of 2.70, a current ratio of 1.55 and a quick ratio of 1.51. The business has a fifty day moving average price of $77.36 and a two-hundred day moving average price of $84.46. NetApp, Inc. has a fifty-two week low of $64.58 and a fifty-two week high of $96.82.

NetApp (NASDAQ:NTAPGet Rating) last announced its quarterly earnings data on Wednesday, February 23rd. The data storage provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.13. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.61 billion. NetApp had a return on equity of 126.47% and a net margin of 16.34%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.94 EPS. On average, equities analysts expect that NetApp, Inc. will post 4.26 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in NTAP. IndexIQ Advisors LLC raised its holdings in NetApp by 5.3% in the 3rd quarter. IndexIQ Advisors LLC now owns 3,862 shares of the data storage provider’s stock valued at $347,000 after acquiring an additional 196 shares in the last quarter. US Bancorp DE increased its stake in shares of NetApp by 3.8% in the 3rd quarter. US Bancorp DE now owns 19,381 shares of the data storage provider’s stock valued at $1,740,000 after purchasing an additional 710 shares during the last quarter. Public Sector Pension Investment Board increased its stake in shares of NetApp by 8.3% in the 3rd quarter. Public Sector Pension Investment Board now owns 37,786 shares of the data storage provider’s stock valued at $3,392,000 after purchasing an additional 2,890 shares during the last quarter. Achmea Investment Management B.V. bought a new position in shares of NetApp in the 3rd quarter valued at $35,000. Finally, First Republic Investment Management Inc. increased its stake in shares of NetApp by 46.9% in the 3rd quarter. First Republic Investment Management Inc. now owns 130,617 shares of the data storage provider’s stock valued at $11,724,000 after purchasing an additional 41,673 shares during the last quarter. 91.91% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts recently weighed in on NTAP shares. Bank of America cut shares of NetApp from a “buy” rating to a “neutral” rating and cut their price objective for the company from $100.00 to $96.00 in a research note on Thursday, March 24th. Wedbush reaffirmed a “neutral” rating and set a $85.00 target price on shares of NetApp in a report on Wednesday, March 23rd. UBS Group started coverage on NetApp in a research note on Tuesday, April 5th. They issued a “neutral” rating and a $91.00 price target on the stock. Northland Securities lifted their price target on NetApp from $111.00 to $124.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 23rd. Finally, StockNews.com cut NetApp from a “buy” rating to a “hold” rating in a research note on Wednesday, May 18th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $99.39.

NetApp Company Profile (Get Rating)

NetApp, Inc provides software, systems, and cloud services to manage and share data on-premises, and private and public clouds worldwide. The company offers cloud storage services, including NetApp Cloud Volumes; cloud control solutions, such as NetApp Cloud Manager and NetApp Virtual Desktop Service; cloud services and analytics comprising NetApp Cloud Insights, NetApp Cloud Sync, NetApp Cloud Compliance, NetApp Cloud Tiering, NetApp SaaS Backup, NetApp Cloud Backup, and NetApp Global File Cache; and Cloud Optimization solutions, such as Spot by NetApp, Spot Cloud Analyzer by NetApp, Spot Eco by NetApp, Spot Ocean by NetApp, Spot Wave by NetApp, Spot Elastigroup by NetApp, and NetApp Virtual Desktop Managed Service.

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