The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Netapp Inc shares valued at $1,105,000 were sold by Kurian George on Aug 19 ’24. At $130.00 per share, Kurian George sold 8,500 shares. The insider’s holdings dropped to 309,778 shares worth approximately $40.78 million following the completion of this transaction.
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Also, GEORGE KURIAN purchased 8,500 shares, netting a total of over 1,104,990 in proceeds.
Before that, O’Callahan Elizabeth M had sold 704 shares from its account. In a trade valued at $86,233, the EVP, Chief Legal Officer traded Netapp Inc shares for $122.49 each. Upon closing the transaction, the insider’s holdings decreased to 704 shares, worth approximately $1.47 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 0.15%. Over the course of the year, Netapp Inc shares have jumped approximately 49.31%. Shares of the company reached a 52-week high of $135.01 on 07/10/24 and a 52-week low of $83.62 on 01/08/24. A 50-day SMA is recorded $127.13, while a 200-day SMA reached $103.80. Nevertheless, trading volume fell to 1.18 million shares from 1.07 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 130.46, which, if violated, would cause prices to drop to 129.28. In the upper region, resistance lies at 133.59. The next price resistance is at 135.54. RSI (Relative Strength Index) is 60.03 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 6.67, which suggests the price will increase in the coming days. Percent R is at 12.93%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
