NetApp president Cesar Cernuda sells $2.53 million in inventory

SAN JOSE, CA—Cesar Cernuda, President of NetApp, Inc. (NASDAQ:NTAP), a distinguished participant in know-how storage options with a market capitalization of $23.5 billion and spectacular 34.6% year-to-date returns, has bought 22,000 frequent shares of the corporate, in accordance with a current SEC submitting. The transaction, which passed off on December 30, was executed beneath a Rule 10b5-1 buying and selling plan that Cernuda adopted earlier this 12 months on March 21. The shares have been bought at a weighted common worth of $114.99, with precise costs starting from $114.64 to $115.57, totaling roughly $2.53 million.

Following this transaction, Cernuda’s direct possession in NetApp quantities to 27,099 shares.

In different current information, NetApp reported a 6% year-over-year enhance in income for the second quarter of fiscal 12 months 2025, totaling $1.66 billion. The corporate has additionally raised its full-year income outlook to between $6.54 and $6.74 billion, with earnings per share projected to extend by 13%, falling between $7.20 and $7.40. Analyst corporations JPMorgan, TD Cowen, and Citi have all proven confidence in NetApp’s future efficiency, with JPMorgan upgrading the inventory from Impartial to Chubby and elevating the worth goal to $160. TD Cowen maintained its Purchase score, highlighting the potential development alternatives offered by Technology AI applied sciences, whereas Citi stored a Impartial score however elevated the share worth goal. NetApp’s numerous product portfolio, together with flash-based storage and public cloud choices, has led to market share good points, and partnerships with corporations like Google (NASDAQ:GOOGL) Cloud have expanded. The corporate’s Keystone storage-as-a-service providing witnessed roughly 55% development year-over-year. These developments are among the many current highlights for NetApp.

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