The insider sales are immaterial in size and follow a strong earnings beat — they do not signal deterioration. Monitor for any insider buying at current levels as a stronger conviction signal. The stock's post-earnings momentum and raised guidance remain the dominant narrative.
Price Chart
Executive Summary
Two NetApp insiders sold a combined $1.34M in open-market sales within 12 days of a record earnings beat (+30% YoY revenue, raised guidance). The sales are small relative to NTAP's $39.1B market cap (~0.003%) and likely reflect routine portfolio diversification following the stock's post-earnings rally, not a bearish signal. The cluster is dominated by non-cash director grants (9 insiders, $0 value) which carry no economic signal.
Key Financial Metrics
Key Facts
- Director Thomas Nevens sold 5,940 shares at $195.21 for $1.16M on 2026-09-11
- EVP Elizabeth O'Callahan sold 1,000 shares at $184.74 for $184,740 on 2026-09-10
- 9 directors received non-cash stock grants totaling 14,724 shares at $0 on 2026-09-09
- Total open-market sales of $1.34M represent ~0.003% of NTAP's $39.1B market cap
- Filing follows a record Q1 FY2027 earnings beat (revenue +30% YoY, EPS +63% YoY) with raised guidance 12 days prior
Financial Impact
Open-market sales of $1.34M are trivial relative to $39.1B market cap; non-cash grants of 14,724 shares have $0 economic value
Risk Factors
- Insider selling could accelerate if the stock continues to rally, but current volume is too small to be meaningful
- No C-suite buying to validate the bullish earnings story
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-NTAP-1789448521383 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 14, 2026 18d ago | Insider Cluster | $188.28 $189.93 | ▲ +0.88% | ▲ +1.34% | $229.93 (+22.12%) |
Sep 2, 2026 29d ago | 8-K | $185.38 $185.59 | ▲ +0.11% | ▲ +0.50% | $229.93 (+24.03%) |
Aug 19, 2026 6w ago | Insider Cluster | $192.71 $192.27 | ▼ −0.23% | ▼ −0.63% | $229.93 (+19.32%) |
Jun 5, 2026 16w ago | Insider Cluster | $170.31 $165.00 | ▼ −3.12% | ▼ −2.82% | $229.93 (+35.01%) |
May 28, 2026 18w ago | 8-K | $174.29 $179.70 | ▲ +3.10% | ▲ +2.83% | $229.93 (+31.92%) |
May 20, 2026 19w ago | Insider Cluster | $123.95 $139.36 | ▲ +12.43% | ▲ +11.99% | $229.93 (+85.50%) |
Mar 3, 2026 30w ago | Court Ruling | $98.29 $99.04 | ▲ +0.77% | ▲ +0.01% | $229.93 (+133.94%) |
Feb 28, 2026 30w ago | Institutional Cluster | $99.64 $98.29 | ▼ −1.36% | ▼ −0.44% | $229.93 (+130.76%) |
US Market Status
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