Insider Selling: NetApp (NASDAQ:NTAP) CEO Sells 8,500 Shares of Stock

NetApp, Inc. (NASDAQ:NTAP) CEO George Kurian sold 8,500 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $108.85, for a total value of $925,225.00. Following the transaction, the chief executive officer directly owned 283,688 shares of the company’s stock, valued at $30,879,438.80. The trade was a 2.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Monday, July 21st, George Kurian sold 8,500 shares of NetApp stock. The stock was sold at an average price of $108.08, for a total value of $918,680.00.
• On Monday, June 16th, George Kurian sold 8,500 shares of NetApp stock. The stock was sold at an average price of $101.78, for a total value of $865,130.00.

NetApp Stock Up 2.5%

Shares of NASDAQ NTAP opened at $110.52 on Friday. NetApp, Inc. has a 12 month low of $71.84 and a 12 month high of $135.45. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 2.39. The firm has a market capitalization of $22.14 billion, a price-to-earnings ratio of 19.46, a PEG ratio of 2.48 and a beta of 1.44. The business has a 50-day moving average of $105.83 and a 200-day moving average of $100.54.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Thursday, May 29th. The data storage provider reported $1.93 EPS for the quarter, topping the consensus estimate of $1.90 by $0.03. NetApp had a return on equity of 126.96% and a net margin of 18.05%.The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the previous year, the firm earned $1.80 earnings per share. NetApp’s revenue was up 3.8% on a year-over-year basis. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q1 2026 guidance at 1.480-1.580 EPS. Sell-side analysts expect that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd were given a $0.52 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.9%. NetApp’s payout ratio is presently 36.62%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on NTAP shares. JPMorgan Chase & Co. boosted their target price on NetApp from $115.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, July 17th. Wedbush restated a “neutral” rating and issued a $110.00 target price on shares of NetApp in a research report on Friday, May 30th. Morgan Stanley started coverage on NetApp in a research report on Thursday. They issued an “equal weight” rating and a $115.00 target price for the company. UBS Group dropped their target price on NetApp from $115.00 to $108.00 and set a “neutral” rating for the company in a research report on Friday, May 30th. Finally, Citigroup boosted their target price on NetApp from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Monday, August 11th. Six investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, NetApp currently has a consensus rating of “Hold” and a consensus target price of $119.86.

Institutional Trading of NetApp

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. lifted its position in NetApp by 39.6% in the first quarter. Assenagon Asset Management S.A. now owns 36,998 shares of the data storage provider’s stock valued at $3,250,000 after purchasing an additional 10,494 shares during the last quarter. Achmea Investment Management B.V. raised its holdings in shares of NetApp by 55.8% during the first quarter. Achmea Investment Management B.V. now owns 221,907 shares of the data storage provider’s stock valued at $19,492,000 after acquiring an additional 79,457 shares in the last quarter. Burns Matteson Capital Management LLC bought a new position in shares of NetApp during the first quarter valued at approximately $321,000. UNICOM Systems Inc. bought a new position in shares of NetApp during the first quarter valued at approximately $13,483,000. Finally, Hennessy Advisors Inc. bought a new position in shares of NetApp during the first quarter valued at approximately $2,050,000. Institutional investors own 92.17% of the company’s stock.

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.