Netapp, Inc. (NTAP) Files Form 4 Insider Selling : Joel D Reich Sells 5,000 Shares

Netapp, Inc. (NTAP): Joel D Reich , Exec VP, Product Operations of Netapp, Inc. sold 5,000 shares on Jun 23, 2016. The Insider selling transaction was reported by the company on Jun 27, 2016 to the Securities and Exchange Commission. The shares were sold at $25.96 per share for a total value of $129,811.00 , the company said in a SEC Form 4 Filing.

Other Insider transactions have been reported by the company according to SEC Form 4, on Jun 7, 2016, Joel D Reich (Exec VP, Product Operations) sold 2,500 shares at $24.97 per share price.On Jun 7, 2016, Matthew K Fawcett (SVP, GC & Secretary) sold 17,808 shares at $24.98 per share price.Also, On Jul 6, 2015, George T Shaheen (director) sold 35,000 shares at $31.78 per share price.On Jun 5, 2015, Nicholas R Noviello (EVP Finance & Operations, CFO) sold 4,320 shares at $33.87 per share price.

Shares of NetApp (NTAP) ended Friday, Jun 24, 2016 session in red amid volatile trading. The shares closed down -1.3 points or -5.00% at $24.72 with 82,97,340 shares getting traded. Post opening the session at $24.5, the shares hit an intraday low of $24.5 and an intraday high of $25.29 and the price vacillated in this range throughout the day. The company has a market cap of $6,924 M and the number of outstanding shares has been calculated to be 28,00,80,150 shares. The 52-week high of NetApp is $34.81 and the 52-week low is $20.66.

NetApp Money Flow Index Chart

On May 25, 2016, NetApp announced a cash dividend of $0.1900. The company’s management has announced Jul 14, 2016 as the ex-dividend date and fixed the record date on Jul 18, 2016. The payable date has been fixed on Jul 27, 2016.

Company has been under the radar of several Street Analysts.NetApp is Reiterated by RBC Capital Mkts to Sector Perform while Lowering the Price Target of the company shares to $ 26 from a previous price target of $29 . The Rating was issued on May 24, 2016.NetApp is Downgraded by Sterne Agee CRT to Underperform. Earlier the firm had a rating of Neutral on the company shares. The Rating was issued on Apr 18, 2016.

NetApp Inc. (NetApp) is engaged in providing software systems and services to manage and store customer data. The Company offers a portfolio of products and services to a range of customer workloads across various data types and deployment models. Its data management solutions enable customers on-premises or in a public cloud resource to control integrate move and manage it. It offers both all-flash arrays and hybrid flash arrays and its portfolio includes hybrid and all-flash storage offerings. The Company also offers FlexPod solutions for workloads such as big data HPC and video analytics that integrate Hadoop. Its scale-out fabric-attached storage (FAS) platform uses the NetApp Data ONTAP storage operating system. Its Data ONTAP software delivers data protection data management and software for virtualized shared infrastructures cloud computing and mixed workload business applications. The Company focuses on the data management and storage markets.

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