Yahoo Finance NetApp Inc (NTAP) President Cesar Cernuda Sells 22,000 Shares
On April 1, 2024, President Cesar Cernuda of NetApp Inc (NASDAQ:NTAP) sold 22,000 shares of the company, according to a recent SEC filing. The transaction was executed at an average price of $105.03 per share, resulting in a total value of $2,310,660.
NetApp Inc is a company that provides software, systems, and services to manage and store data. NetApp offers solutions for storing and sharing data across different environments, including cloud, virtual, and physical storage environments.
Over the past year, the insider has sold a total of 88,000 shares of NetApp Inc and has not made any purchases of the stock. The recent sale further contributes to the trend observed over the past year, where there have been no insider buys and 30 insider sells for the company.
The market capitalization of NetApp Inc stands at $21.975 billion as of the date of the insider's recent transaction. The stock's price-earnings ratio is 24.20, which is above both the industry median of 23.61 and the company's historical median price-earnings ratio.
According to the GuruFocus Value chart, with a current price of $105.03 and a GF Value of $80.20, NetApp Inc is considered Significantly Overvalued, with a price-to-GF-Value ratio of 1.31.
The GF Value is determined by considering historical trading multiples, an adjustment factor based on the company's past performance, and future business performance estimates provided by Morningstar analysts.
The insider's recent sale may attract the attention of investors who track insider behaviors as an indicator of the company's prospects. It is important to note that insider transactions are only one of many factors that investors may consider when evaluating a stock.
Investors are advised to conduct their own due diligence and consider the broader market conditions, the company's fundamentals, and other relevant data points before making investment decisions.
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.
This article first appeared on GuruFocus.
