On October 21, 2024, George Kurian, Chief Executive Officer of NetApp Inc (NTAP, Financial), sold 8,500 shares of the company at a price of $126.11 per share. The transaction was documented in an SEC Filing. Following this sale, the insider now owns 292,778 shares of NetApp Inc.
NetApp Inc specializes in cloud data services and data management in hybrid cloud environments. The company provides solutions that enable customers to manage their data across different environments, including cloud, on-premises, and hybrid setups.
Over the past year, George Kurian has sold a total of 71,825 shares of NetApp Inc and has not made any purchases of the stock. This recent transaction is part of a broader trend observed within the company, where there have been 32 insider sells and no insider buys over the past year.
Shares of NetApp Inc were trading at $126.11 on the day of the sale, giving the company a market cap of $24.37 billion. The price-earnings ratio of the company stands at 23.24, slightly above the industry median of 23.055 and the company's historical median.
According to the GF Value, the intrinsic value of NetApp Inc is estimated at $82.92 per share, which suggests that the stock is Significantly Overvalued with a price-to-GF-Value ratio of 1.52.
The GF Value is calculated based on historical trading multiples like the price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, adjusted for the company's past performance and estimated future business outcomes.
This sale by the insider may be of interest to current and potential investors, providing insight into executive sentiment and potential future stock performance.
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.
