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President CERNUDA CESAR sold 22,000 shares of Netapp Inc [NTAP]

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Netapp Inc shares valued at $2,848,113 were sold by CERNUDA CESAR on Jun 28 ’24. At $129.46 per share, CERNUDA CESAR sold 22,000 shares. The insider’s holdings dropped to 64,789 shares worth approximately $8.41 million following the completion of this transaction.

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Also, BERRY MICHAEL J sold 7,500 shares, netting a total of over 955,831 in proceeds. Following the sale of shares at $127.44 each, the insider now holds 185,869 shares.

Before that, BERRY MICHAEL J had sold 7,500 shares from its account. In a trade valued at $954,327, the EVP, CFO traded Netapp Inc shares for $127.24 each. Upon closing the transaction, the insider’s holdings decreased to 7,500 shares, worth approximately $25.11 million.

As published in a research note from JP Morgan on May 31, 2024, Netapp Inc [NTAP] has been rated up from an Underweight to a Neutral and the price target has been revised to $125 from $95. Analysts at TD Cowen resumed the stock at ‘”a Buy”‘ outlook in a report released in late May. As of March 04, 2024, Argus has increased its “Hold” rating to a “Buy” for NTAP. Earlier on March 01, 2024, TD Cowen resumed its rating. Their recommendation was “an Outperform” for NTAP stock.

Analyzing NTAP Stock Performance

During the last five days, there has been a surge of approximately 1.13%. Over the course of the year, Netapp Inc shares have jumped approximately 47.33%. Shares of the company reached a 52-week high of $131.02 on 07/01/24 and a 52-week low of $83.62 on 01/08/24. A 50-day SMA is recorded $116.32, while a 200-day SMA reached $94.74. Nevertheless, trading volume fell to 0.9 million shares from 1.75 million shares the previous day.

Support And Resistance Levels for Netapp Inc (NTAP)

According to the 24-hour chart, there is a support level at 129.13, which, if violated, would cause prices to drop to 128.00. In the upper region, resistance lies at 130.98. The next price resistance is at 131.70. RSI (Relative Strength Index) is 72.38 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.98, which suggests the price will increase in the coming days. Percent R is at 10.20%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

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