Elizabeth O’callahan Sells 1,000 Shares of NetApp (NASDAQ:NTAP) Stock

NetApp, Inc. (NASDAQ:NTAP) EVP Elizabeth O’callahan sold 1,000 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $163.48, for a total transaction of $163,480.00. Following the sale, the executive vice president directly owned 32,297 shares in the company, valued at approximately $5,279,913.56. The trade was a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

NetApp Trading Up 0.7%

NTAP stock opened at $161.61 on Friday. The company’s 50-day simple moving average is $125.92 and its 200-day simple moving average is $112.27. The company has a quick ratio of 1.39, a current ratio of 1.44 and a debt-to-equity ratio of 1.84. NetApp, Inc. has a 52-week low of $93.69 and a 52-week high of $192.83. The firm has a market cap of $31.66 billion, a P/E ratio of 25.41, a PEG ratio of 2.95 and a beta of 1.45.

NetApp (NASDAQ:NTAP) last issued 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). The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.87 billion. NetApp had a net margin of 18.43% and a return on equity of 117.23%. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.93 earnings per share. 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, equities analysts forecast that NetApp, Inc. will post 7.16 EPS for the current fiscal year.

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Investors of record on Friday, July 10th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.08 dividend on an annualized basis and a yield of 1.3%. NetApp’s dividend payout ratio (DPR) is currently 32.70%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Cozad Asset Management Inc. lifted its stake in NetApp by 7.1% in the 1st quarter. Cozad Asset Management Inc. now owns 2,175 shares of the data storage provider’s stock worth $223,000 after purchasing an additional 145 shares in the last quarter. Royal Fund Management LLC increased its holdings in NetApp by 60.8% in the 1st quarter. Royal Fund Management LLC now owns 8,198 shares of the data storage provider’s stock valued at $839,000 after purchasing an additional 3,100 shares during the last quarter. Bank of America Corp DE increased its holdings in NetApp by 7.5% in the 1st quarter. Bank of America Corp DE now owns 1,956,339 shares of the data storage provider’s stock valued at $200,310,000 after purchasing an additional 136,769 shares during the last quarter. Edgestream Partners L.P. increased its holdings in NetApp by 203.1% in the 1st quarter. Edgestream Partners L.P. now owns 44,831 shares of the data storage provider’s stock valued at $4,590,000 after purchasing an additional 30,038 shares during the last quarter. Finally, Kentucky Retirement Systems increased its holdings in NetApp by 124.3% in the 1st quarter. Kentucky Retirement Systems now owns 28,138 shares of the data storage provider’s stock valued at $2,881,000 after purchasing an additional 15,594 shares during the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on NTAP shares. Bank of America raised their price target on shares of NetApp from $125.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. JPMorgan Chase & Co. raised their price target on shares of NetApp from $110.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Weiss Ratings raised shares of NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Wells Fargo & Company raised their price target on shares of NetApp from $115.00 to $180.00 and gave the company an “equal weight” rating in a research note on Friday, May 29th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $160.00 price target on shares of NetApp in a research note on Friday, May 29th. Five equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $169.33.

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.