Lorenzo Daniel De Sells 225 Shares of NetApp (NASDAQ:NTAP) Stock

NetApp, Inc. (NASDAQ:NTAP) CAO Lorenzo Daniel De sold 225 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $171.09, for a total value of $38,495.25. Following the completion of the sale, the chief accounting officer directly owned 1,090 shares of the company’s stock, valued at approximately $186,488.10. This represents a 17.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Lorenzo Daniel De also recently made the following trade(s):

• On Monday, May 18th, Lorenzo Daniel De sold 275 shares of NetApp stock. The stock was sold at an average price of $120.00, for a total value of $33,000.00.

NetApp Stock Down 1.2%

Shares of NetApp stock opened at $178.87 on Friday. The stock has a 50-day moving average price of $118.57 and a 200 day moving average price of $109.85. The company has a market cap of $35.30 billion, a P/E ratio of 28.12, a P/E/G ratio of 3.32 and a beta of 1.45. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 1.84. NetApp, Inc. has a 1 year low of $93.69 and a 1 year high of $192.83.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.24). NetApp had a return on equity of 117.23% and a net margin of 18.43%.The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period last year, the business earned $1.93 earnings per share. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. As a group, analysts expect that NetApp, Inc. will post 7.14 EPS for the current fiscal year.

NetApp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Friday, July 10th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. NetApp’s dividend payout ratio (DPR) is 32.70%.

Analyst Ratings Changes

A number of research firms have recently weighed in on NTAP. Weiss Ratings downgraded NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 13th. UBS Group reaffirmed a “neutral” rating and set a $160.00 price target on shares of NetApp in a research note on Friday, May 29th. Morgan Stanley raised their price target on NetApp from $88.00 to $137.00 and gave the stock an “underweight” rating in a research note on Friday, May 29th. Wells Fargo & Company raised their price target on NetApp from $115.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Friday, May 29th. Finally, Wedbush raised their price target on NetApp from $115.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $169.33.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new position in NetApp in the 4th quarter worth $458,060,000. First Trust Advisors LP raised its holdings in NetApp by 127.0% in the 1st quarter. First Trust Advisors LP now owns 3,658,066 shares of the data storage provider’s stock worth $374,549,000 after acquiring an additional 2,046,912 shares during the period. SG Americas Securities LLC grew its position in shares of NetApp by 378.9% in the first quarter. SG Americas Securities LLC now owns 1,329,475 shares of the data storage provider’s stock valued at $136,125,000 after purchasing an additional 1,051,863 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of NetApp by 94.6% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,823,292 shares of the data storage provider’s stock valued at $215,987,000 after purchasing an additional 886,485 shares during the last quarter. Finally, SEB Asset Management AB acquired a new stake in shares of NetApp in the first quarter valued at about $89,977,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Key Headlines Impacting NetApp

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: NetApp’s updated fiscal 2027 guidance points to improved margins and higher earnings potential, which investors are viewing as the main driver behind the stock’s recent strength.
• Positive Sentiment: The company announced new collaborations with Cisco to expand secure, simplified AI solutions and strengthen cyber resilience, which could help NetApp benefit from enterprise AI spending. NetApp and Cisco Accelerate and Secure AI Innovation
• Positive Sentiment: NetApp has also been drawing analyst and investor attention after its earnings call, with questions centered on the company’s AI opportunity, margins, and growth outlook. The 5 Most Interesting Analyst Questions From NetApp’s Q1 Earnings Call

NetApp Company Profile

NetApp, Inc (NASDAQ: NTAP) is a data management and storage company that delivers hybrid cloud data services for applications and data. Founded in 1992 as Network Appliance and rebranded as NetApp in 2008, the company is headquartered in Sunnyvale, California. NetApp’s offering focuses on enabling organizations to store, manage, protect and move data across on-premises environments and major public clouds.

The company’s product portfolio centers on the ONTAP data management software and a range of storage systems and services built around it.