On August 19, 2024, George Kurian, CEO of NetApp Inc (NASDAQ:NTAP), sold 8,500 shares of the company at a price of $130 per share. This transaction was reported in a recent SEC filing. Following this sale, the insider now owns 309,778 shares of NetApp Inc.
NetApp Inc (NASDAQ:NTAP) specializes in cloud data services and data management, providing solutions that enable customers to manage their data in various environments, including cloud, on-premises and hybrid setups.
Over the past year, George Kurian has sold a total of 63,825 shares of NetApp Inc. and made no purchases. The company recorded a total of 33 insider sales and no insider purchases during the same period.
NetApp Inc. shares traded at $130 on the day of the transaction, giving the company a market capitalization of $27.42 billion. The company’s price-to-earnings ratio is 28.75, which is above both the industry median of 21.67 and the company’s historical median.
According to GF Value, the intrinsic value of NetApp Inc. is estimated at $81.42 per share, making the stock significantly overvalued with a price-GF Value ratio of 1.6.
The GF value is calculated based on historical trading multiples, a GuruFocus adjustment factor and estimates of future business performance provided by Morningstar analysts.
This sale by the insider could be of interest to investors who follow the behavior of insiders and evaluate the current valuation metrics of the stock.
This article created by GuruFocus is intended to provide general insights and does not constitute tailored financial advice. Our commentary is based on historical data and analyst forecasts, uses an unbiased methodology and is not intended to serve as specific investment advice. It does not contain a recommendation to buy or sell any stock and does not take into account any individual investment objectives or financial circumstances. Our goal is to provide long-term, fundamental, data-driven analysis. Note that our analysis may not include the most recent, price-sensitive company announcements or qualitative information. GuruFocus does not hold a position in any stocks mentioned here.
This article first appeared on GuruFocus.
