NetApp, Inc. (NASDAQ:NTAP) CEO George Kurian sold 4,000 shares of the stock in a transaction on Monday, July 31st. The shares were sold at an average price of $43.67, for a total transaction of $174,680.00. Following the completion of the transaction, the chief executive officer now directly owns 27,598 shares in the company, valued at $1,205,204.66. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
George Kurian also recently made the following trade(s):
- On Friday, June 30th, George Kurian sold 59,697 shares of NetApp stock. The stock was sold at an average price of $39.93, for a total transaction of $2,383,701.21.
- On Tuesday, May 30th, George Kurian sold 4,000 shares of NetApp stock. The shares were sold at an average price of $40.12, for a total transaction of $160,480.00.
Shares of NetApp, Inc. (NTAP) traded up 0.51% during midday trading on Friday, reaching $41.49. 1,456,639 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $41.95 and a 200-day moving average of $40.60. The company has a market capitalization of $11.27 billion, a PE ratio of 22.92 and a beta of 1.21. NetApp, Inc. has a 1-year low of $28.32 and a 1-year high of $45.24.
NetApp (NASDAQ:NTAP) last posted its earnings results on Wednesday, May 24th. The data storage provider reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.04. NetApp had a return on equity of 21.66% and a net margin of 9.22%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter last year, the company earned $0.55 earnings per share. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. Equities analysts expect that NetApp, Inc. will post $3.03 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date was Wednesday, July 5th. This is a positive change from NetApp’s previous quarterly dividend of $0.19. NetApp’s dividend payout ratio (DPR) is currently 44.20%.
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A number of brokerages have recently commented on NTAP. UBS AG upgraded shares of NetApp from a “sell” rating to a “neutral” rating and set a $40.00 price target for the company in a report on Friday, May 26th. BidaskClub downgraded shares of NetApp from a “buy” rating to a “hold” rating in a report on Saturday. Maxim Group reaffirmed a “hold” rating and set a $46.00 price target on shares of NetApp in a research report on Thursday, May 25th. Jefferies Group LLC reduced their price target on shares of NetApp from $44.00 to $42.00 and set a “hold” rating on the stock in a research report on Thursday, May 25th. Finally, Citigroup Inc. reduced their price target on shares of NetApp from $46.00 to $41.00 and set a “neutral” rating on the stock in a research report on Thursday, May 25th. Four analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $41.63.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in NetApp by 1.8% in the second quarter. Vanguard Group Inc. now owns 27,214,474 shares of the data storage provider’s stock worth $1,089,939,000 after buying an additional 481,365 shares in the last quarter. BlackRock Inc. raised its position in NetApp by 7.5% in the second quarter. BlackRock Inc. now owns 21,648,037 shares of the data storage provider’s stock worth $867,006,000 after buying an additional 1,517,967 shares in the last quarter. Renaissance Technologies LLC raised its position in NetApp by 781.1% in the second quarter. Renaissance Technologies LLC now owns 3,339,574 shares of the data storage provider’s stock worth $133,750,000 after buying an additional 2,960,542 shares in the last quarter. Schroder Investment Management Group raised its position in NetApp by 10.7% in the first quarter. Schroder Investment Management Group now owns 3,149,828 shares of the data storage provider’s stock worth $131,978,000 after buying an additional 304,535 shares in the last quarter. Finally, FMR LLC raised its stake in shares of NetApp by 89.2% in the second quarter. FMR LLC now owns 3,044,302 shares of the data storage provider’s stock worth $121,924,000 after buying an additional 1,435,588 shares during the period. Institutional investors own 91.25% of the company’s stock.
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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