Insider Selling: NetApp, Inc. (NASDAQ:NTAP) EVP Sells $54,579.00 in Stock

NetApp, Inc. (NASDAQ:NTAP) EVP Elizabeth M. O’callahan sold 452 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $120.75, for a total transaction of $54,579.00. Following the sale, the executive vice president now directly owns 11,553 shares of the company’s stock, valued at $1,395,024.75. This represents a 3.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

NetApp Stock Up 1.1 %

Shares of NASDAQ:NTAP opened at $119.06 on Friday. The business has a fifty day simple moving average of $120.43 and a 200 day simple moving average of $121.92. NetApp, Inc. has a 12-month low of $83.80 and a 12-month high of $135.45. The firm has a market cap of $24.21 billion, a P/E ratio of 21.89, a P/E/G ratio of 2.94 and a beta of 1.23. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Thursday, November 21st. The data storage provider reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.09. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. NetApp had a return on equity of 123.63% and a net margin of 17.78%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.23 earnings per share. Analysts predict that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.75%. The ex-dividend date was Friday, January 3rd. NetApp’s dividend payout ratio (DPR) is presently 38.24%.

Wall Street Analyst Weigh In

NTAP has been the subject of a number of recent analyst reports. Susquehanna downgraded shares of NetApp from a “positive” rating to a “neutral” rating and cut their price target for the stock from $155.00 to $130.00 in a report on Monday, February 10th. Northland Securities raised their target price on NetApp from $108.00 to $120.00 and gave the company a “market perform” rating in a report on Friday, November 22nd. Oppenheimer assumed coverage on NetApp in a report on Wednesday, November 13th. They set a “market perform” rating for the company. TD Cowen lifted their target price on NetApp from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Finally, StockNews.com cut shares of NetApp from a “buy” rating to a “hold” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, NetApp has a consensus rating of “Hold” and an average target price of $137.53.

Hedge Funds Weigh In On NetApp

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Sanctuary Advisors LLC bought a new position in shares of NetApp in the 2nd quarter worth about $566,000. CWM LLC grew its stake in NetApp by 9.9% during the third quarter. CWM LLC now owns 10,718 shares of the data storage provider’s stock worth $1,324,000 after purchasing an additional 965 shares during the period. Ritholtz Wealth Management lifted its stake in NetApp by 30.4% in the third quarter. Ritholtz Wealth Management now owns 6,200 shares of the data storage provider’s stock valued at $766,000 after buying an additional 1,444 shares during the period. Exchange Traded Concepts LLC boosted its holdings in shares of NetApp by 4,225.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 2,249 shares of the data storage provider’s stock worth $278,000 after buying an additional 2,197 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of NetApp during the 3rd quarter worth approximately $75,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

NetApp Company Profile

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.