In a filing, Netapp Inc revealed its CEO Kurian George unloaded Company’s shares for reported $0.92 million on May 13 ’24. In the deal valued at $108.57 per share,8,500 shares were sold. As a result of this transaction, Kurian George now holds 244,202 shares worth roughly $29.54 million.
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Then, O’Callahan Elizabeth M sold 871 shares, generating $94,800 in total proceeds. Upon selling the shares at $108.84, the EVP, Chief Legal Officer now owns 8,730 shares.
Before that, Kurian George sold 8,500 shares. Netapp Inc shares valued at $876,838 were divested by the CEO at a price of $103.16 per share. As a result of the transaction, Kurian George now holds 252,702 shares, worth roughly $30.57 million.
JP Morgan upgraded its Netapp Inc [NTAP] rating to a Neutral from a an Underweight in a research note published on May 31, 2024; the price target was increased to $125 from $95. A number of analysts have revised their coverage, including TD Cowen’s analysts, who remained covering the stock and in late May has reiterated a ‘”a Buy”‘ rating for it. Argus also remained covering NTAP and has increased its forecast on March 04, 2024 with a “Buy” recommendation from previously “Hold” rating. TD Cowen maintained its rating on March 01, 2024. It rated NTAP as “an Outperform”.
Price Performance Review of NTAP
On Friday, Netapp Inc [NASDAQ:NTAP] saw its stock fall -0.40% to $120.98. Over the last five days, the stock has gained 0.46%. Netapp Inc shares have risen nearly 37.23% since the year began. Nevertheless, the stocks have risen 70.47% over the past one year. While a 52-week high of $122.30 was reached on 06/05/24, a 52-week low of $69.51 was recorded on 01/08/24. SMA at 50 days reached $108.00, while 200 days put it at $90.49. A total of 1.38 million shares were traded, compared to the trading of 2.4 million shares in the previous session.
Levels Of Support And Resistance For NTAP Stock
The 24-hour chart illustrates a support level at 120.15, which if violated will result in even more drops to 119.32. On the upside, there is a resistance level at 121.67. A further resistance level may holdings at 122.36. The Relative Strength Index (RSI) on the 14-day chart is 71.46, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 4.13, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 11.05%. Stochastics %K at 93.99% indicates the stock is a selling.
