NetApp (NTAP) President Cesar Cernuda Sells $7.7M of Stock

NetApp, Inc.'s President, Cesar Cernuda, sold 49,464 shares of the company on June 23, 2026. The shares were sold at an average price of $154.82, totaling approximately $7.66 million. This transaction was part of a planned sale under Rule 10b5-1.

Insider Buying and Selling at NetApp, Inc.

Cesar Cernuda, the President of NetApp, Inc., executed a planned sale of 49,464 shares on June 23, 2026, at an average price of $154.82, amounting to $7.66 million. Other notable transactions include Elizabeth O'Callahan, EVP and Chief Administrative Officer, who sold 1,000 shares on June 10, 2026, at $163.48 per share, and Daniel De Lorenzo, VP, Controller & CAO, who made several transactions, including a buy of 2,116 shares on May 15, 2026.

Other Institutional Activity in NetApp

Among the major institutional holders, BlackRock, Inc. reduced its holdings by 493,960 shares, bringing its total to 19,907,827 shares valued at about $2.04 billion. Vanguard Portfolio Management LLC opened a new position with 12,652,345 shares, worth approximately $1.30 billion. Similarly, Vanguard Capital Management LLC initiated a stake with 12,487,893 shares, valued at $1.28 billion. State Street Corp trimmed its position by 168,881 shares to hold 10,023,473 shares, valued at roughly $1.03 billion. Meanwhile, Geode Capital Management, LLC increased its stake by 128,135 shares, ending with 6,444,451 shares worth $660.18 million.

NetApp, Inc. Stock Down 27.5%

Shares of NasdaqGS:NTAP traded near $155.56 on Friday. NetApp, Inc. has a market capitalization of approximately $31.02 billion. The company boasts a P/E ratio of 24.89 and a forward P/E of 16.06. Its stock has a beta of 1.434, indicating a higher volatility compared to the market. The 52-week range for the stock is between $93.69 and $192.83. The 50-day moving average is $130.25, while the 200-day moving average stands at $114.79. NetApp has a current ratio of 1.44 and a quick ratio of 1.21, with a debt-to-equity ratio of 202.30.

Analysts Set New Price Targets

On June 1, 2026, Argus Research maintained its 'buy' rating with a price target of $200. Barclays also maintained a 'buy' rating with a target of $199 on May 29, 2026. Several firms, including JP Morgan, B of A Securities, Citigroup, and Wells Fargo, maintained 'hold' ratings with targets ranging from $150 to $180. The consensus among 16 analysts is a 'buy' recommendation, with an average price target of $171.75.

About NetApp

NetApp, Inc. is a technology company based in San Jose, California. It provides enterprise software, systems, and services for data management and storage solutions. The company operates through Hybrid Cloud and Public Cloud segments, offering products like NetApp ONTAP and storage infrastructure solutions. With a strategic alliance with Commvault Systems, NetApp aims to enhance enterprise data protection and cyber resilience. Led by CEO George Kurian, NetApp employs about 11,700 people globally.

Bottom Line

Cesar Cernuda's sale of NetApp shares is part of a planned transaction, reflecting routine insider trading activity. NetApp's stock remains active, with significant institutional movements and varied analyst ratings. Investors often track such insider sales and institutional activities for insights, but it's important to remember that these reports are historical and may not reflect current positions.