On July 15, 2024, George Kurian, CEO of NetApp Inc (NTAP, Financial), executed a sale of 8,500 shares of the company. According to the SEC Filing, the shares were sold at a price of $130.36 per share. Following this transaction, the insider now owns 314,274 shares of NetApp Inc.
NetApp Inc (NTAP, Financial) specializes in providing software, systems, and services to manage and store data. The company offers cloud data services that simplify management of applications and data across cloud and on-premises environments to accelerate digital transformation.
Over the past year, George Kurian has sold a total of 59,825 shares of NetApp Inc and has not made any purchases of the stock. The company's insider transaction history reveals a pattern of 33 insider sells and no insider buys over the same period.
Shares of NetApp Inc were trading at $130.36 on the day of the transaction, giving the company a market cap of approximately $26.22 billion. The price-earnings ratio of the stock stands at 27.46, which is above both the industry median of 24.13 and the company's historical median.
The stock's valuation metrics show a GF Value of $81.09, indicating that at the current price, NetApp Inc is significantly overvalued with a price-to-GF-Value ratio of 1.61.
This recent insider sell might interest investors tracking insider behaviors, especially considering the stock's current valuation levels and the ongoing trends in insider transactions.
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.
