Netapp, Inc. (NTAP) Files Form 4 Insider Selling : Joel D Reich Sells 2,241 Shares

Netapp, Inc. (NTAP): Joel D Reich , Exec VP, Product Operations of Netapp, Inc. sold 2,241 shares on Jun 30, 2016. The Insider selling transaction was reported by the company on Jul 1, 2016 to the Securities and Exchange Commission. The shares were sold at $24.35 per share for a total value of $54,573.05 , 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 27, 2016, Joel D Reich (Exec VP, Product Operations) sold 5,000 shares at $25.96 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.

NetApp: On Wednesday, Jun 29, 2016 heightened volatility was witnessed in NetApp which led to swings in the share price. The shares opened for trading at $23.52 and hit $24.6 on the upside , eventually ending the session at $24.47, with a gain of 5.57% or 1.29 points. The heightened volatility saw the trading volume jump to 57,81,403 shares. The 52-week high of the share price is $34.81 and the company has a market cap of $6,854 M . The 52-week low of the share price is at $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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