NetApp, Inc. (NASDAQ:NTAP - Get Rating) CEO George Kurian sold 2,250 shares of the business's stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $60.40, for a total transaction of $135,900.00. Following the transaction, the chief executive officer now owns 156,976 shares in the company, valued at approximately $9,481,350.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
George Kurian also recently made the following trade(s):
On Monday, December 5th, George Kurian sold 4,500 shares of NetApp stock. The shares were sold at an average price of $65.29, for a total transaction of $293,805.00.
NetApp Trading Down 1.0 %
Shares of NASDAQ NTAP traded down $0.60 during trading on Thursday, reaching $61.33. The stock had a trading volume of 1,220,997 shares, compared to its average volume of 1,572,399. NetApp, Inc. has a fifty-two week low of $58.08 and a fifty-two week high of $96.82. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.28 and a current ratio of 1.36. The business's 50-day moving average price is $66.57 and its 200-day moving average price is $67.59. The company has a market cap of $13.22 billion, a P/E ratio of 9.37, a PEG ratio of 1.58 and a beta of 1.18.
NetApp (NASDAQ:NTAP - Get Rating) last issued its quarterly earnings data on Tuesday, November 29th. The data storage provider reported $1.20 earnings per share for the quarter, beating analysts' consensus estimates of $1.08 by $0.12. NetApp had a return on equity of 115.30% and a net margin of 22.52%. The business had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.67 billion. On average, equities research analysts predict that NetApp, Inc. will post 4.37 EPS for the current fiscal year.
NetApp Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 25th. Investors of record on Friday, January 6th will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, January 5th. This represents a $2.00 annualized dividend and a yield of 3.26%. NetApp's payout ratio is 30.26%.
Wall Street Analyst Weigh In
NTAP has been the topic of several recent research reports. Morgan Stanley downgraded shares of NetApp from an "equal weight" rating to an "underweight" rating and dropped their price objective for the company from $66.00 to $58.00 in a report on Tuesday, December 13th. Susquehanna Bancshares reduced their price objective on NetApp from $75.00 to $65.00 and set a "neutral" rating for the company in a report on Wednesday, November 30th. Jefferies Financial Group started coverage on NetApp in a research note on Monday, October 31st. They set a "buy" rating and a $88.00 price target for the company. Susquehanna cut their price target on NetApp from $75.00 to $65.00 in a research note on Wednesday, November 30th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on NetApp from $84.00 to $78.00 in a research note on Wednesday, November 30th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, NetApp currently has a consensus rating of "Hold" and a consensus price target of $78.55.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in NTAP. Ten Capital Wealth Advisors LLC purchased a new stake in shares of NetApp in the 3rd quarter valued at about $27,000. First Horizon Advisors Inc. raised its stake in NetApp by 237.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 482 shares of the data storage provider's stock valued at $31,000 after acquiring an additional 339 shares during the last quarter. Ronald Blue Trust Inc. raised its stake in NetApp by 183.5% during the 3rd quarter. Ronald Blue Trust Inc. now owns 550 shares of the data storage provider's stock valued at $36,000 after acquiring an additional 356 shares during the last quarter. Gradient Investments LLC raised its stake in NetApp by 57.3% during the 3rd quarter. Gradient Investments LLC now owns 629 shares of the data storage provider's stock valued at $39,000 after acquiring an additional 229 shares during the last quarter. Finally, Kempen Capital Management N.V. purchased a new stake in NetApp during the 1st quarter valued at approximately $48,000. 87.92% of the stock is owned by institutional investors and hedge funds.
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, NetApp ElementOS software, and NetApp SANtricity software; and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp FlexPod, NetApp E/EF series, NetApp StorageGRID, and NetApp SolidFire.
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