On June 17, 2024, George Kurian, CEO of NetApp Inc (NTAP, Financial), executed a sale of 8,500 shares of the company, according to the SEC Filing. Post-transaction, the insider owns 322,774 shares of the company. The shares were sold at a price of $125.59, valuing the transaction at approximately $1,067,515.
NetApp Inc (NTAP, Financial) specializes in hybrid cloud data services and data management. The company provides systems, software, and cloud services that enable customers to manage and store their data both on-premises and in cloud environments.
Over the past year, George Kurian has sold a total of 55,825 shares and has not made any purchases of the company's stock. This recent transaction follows a pattern observed over the last year, where there have been 32 insider sells and no insider buys at NetApp Inc (NTAP, Financial).
The stock of NetApp Inc (NTAP, Financial) was trading at $125.59 on the day of the sale, giving the company a market cap of $26.23 billion. The price-earnings ratio of the company stands at 27.47, which is above both the industry median of 23.865 and the historical median for the company.
According to the GF Value, the intrinsic value of NetApp Inc (NTAP, Financial) is estimated at $80.83 per share, making the stock Significantly Overvalued with a price-to-GF-Value ratio of 1.55.
The insider trend image above reflects the recent selling activities at NetApp Inc (NTAP, Financial), aligning with the broader trend of insider sales over the past year.
The GF Value image above illustrates the valuation discrepancy, indicating that the stock price is significantly above the estimated intrinsic value based on historical trading multiples, an adjustment factor from GuruFocus, and future business performance estimates from analysts.
This sale by the CEO continues the trend of insider sales at NetApp Inc (NTAP, Financial), providing an interesting point of data for investors monitoring insider behaviors and company valuation metrics.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
