NetApp Inc CEO George Kurian Sells 8,500 Shares
George Kurian, CEO of NetApp Inc (NASDAQ:NTAP), sold 8,500 shares of the company on March 19, 2024, according to a recent SEC Filing. The transaction was executed at an average price of $101.44 per share, resulting in a total value of $862,240.
NetApp Inc (NASDAQ:NTAP) specializes in hybrid cloud data services and data management. The company provides a full range of hybrid cloud data services that simplify the management of applications and data across cloud and on-premises environments to accelerate digital transformation.
Over the past year, the insider has sold a total of 43,825 shares of NetApp Inc and has not made any purchases of the stock. The recent sale by George Kurian is part of a trend observed over the last year, where there have been no insider buys and 29 insider sells within the company.
On the valuation front, NetApp Inc's shares were trading at $101.44 on the day of the insider's sale, giving the company a market capitalization of $21.68 billion. The price-earnings ratio of the company stands at 23.88, slightly above the industry median of 23.825 and also above the company's historical median price-earnings ratio.
The stock's price relative to the GuruFocus Value (GF Value) indicates that NetApp Inc is significantly overvalued. With a share price of $101.44 and a GF Value of $79.67, the price-to-GF-Value ratio is 1.27.
The GF Value is calculated considering historical trading multiples, a GuruFocus adjustment factor based on the company's past returns and growth, and future business performance estimates provided by Morningstar analysts.
Investors and analysts often monitor insider transactions as they can provide insights into a company's prospects or the insiders' views on the company's current valuation. The recent sale by the CEO of NetApp Inc may prompt stakeholders to take a closer look at the company's valuation and future growth prospects.
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.
