Netapp Inc’s filing revealed that its President CERNUDA CESAR unloaded Company’s shares for reported $2.31 million on Apr 01 ’24. In the deal valued at $105.03 per share,22,000 shares were sold. As a result of this transaction, CERNUDA CESAR now holds 43,072 shares worth roughly $4.52 million.
Then, Kurian George sold 8,500 shares, generating $862,218 in total proceeds. Upon selling the shares at $101.44, the CEO now owns 261,202 shares.
Before that, BERRY MICHAEL J sold 7,500 shares. Netapp Inc shares valued at $765,000 were divested by the EVP, CFO at a price of $102.00 per share. As a result of the transaction, BERRY MICHAEL J now holds 144,909 shares, worth roughly $15.22 million.
Argus upgraded its Netapp Inc [NTAP] rating to a Buy from a a Hold in a research note published recently. A number of analysts have revised their coverage, including TD Cowen’s analysts, who remained covering the stock and in early March has reiterated a ‘”an Outperform”‘ rating for it. Raymond James also remained covering NTAP and has decreased its forecast on January 16, 2024 with a “Mkt perform” recommendation from previously “an Outperform” rating. JP Morgan revised its rating on January 08, 2024. It rated NTAP as “an Underweight” which previously was an “a Neutral”.
Price Performance Review of NTAP
On Friday, Netapp Inc [NASDAQ:NTAP] saw its stock jump 0.24% to $105.05. Over the last five days, the stock has gained 0.08%. Netapp Inc shares have risen nearly 19.16% since the year began. Nevertheless, the stocks have risen 66.24% over the past one year. While a 52-week high of $112.48 was reached on 03/01/24, a 52-week low of $60.92 was recorded on 01/08/24. SMA at 50 days reached $95.88, while 200 days put it at $83.59. A total of 1.02 million shares were traded, compared to the trading of 2.55 million shares in the previous session.
Levels Of Support And Resistance For NTAP Stock
The 24-hour chart illustrates a support level at 104.33, which if violated will result in even more drops to 103.60. On the upside, there is a resistance level at 105.62. A further resistance level may holdings at 106.18. The Relative Strength Index (RSI) on the 14-day chart is 63.65, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.78, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 46.20%. Stochastics %K at 65.98% indicates the stock is a holding.
How much short interest is there in Netapp Inc?
A steep rise in short interest was recorded in Netapp Inc stocks on Mar 15, 2024, growing by 0.19 million shares to a total of 7.19 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 7.0 million shares. There was a rise of 2.64%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 4.05% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.52.
The most recent change occurred on November 29, 2023 when TD Cowen resumed its ‘”an Outperform”‘ rating for the stock and retained the price target to $100.
