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 firm’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $184.74, for a total value of $184,740.00. Following the completion of the transaction, the executive vice president owned 30,737 shares of the company’s stock, valued at approximately $5,678,353.38. This represents a 3.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

NetApp Trading Up 0.9%

NASDAQ:NTAP opened at $189.93 on Wednesday. NetApp, Inc. has a 52-week low of $93.69 and a 52-week high of $209.06. The company has a quick ratio of 1.16, a current ratio of 1.24 and a debt-to-equity ratio of 1.30. The stock has a fifty day simple moving average of $183.07 and a 200-day simple moving average of $145.44. The company has a market capitalization of $37.31 billion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 2.03 and a beta of 1.44.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Wednesday, September 2nd. The data storage provider reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.46. NetApp had a net margin of 19.18% and a return on equity of 119.13%. The firm had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the prior year, the company earned $1.15 EPS. The firm’s revenue was up 29.9% on a year-over-year basis. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. On average, equities research analysts expect that NetApp, Inc. will post 8.32 earnings per share for the current fiscal year.

NetApp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Friday, October 9th will be given a $0.52 dividend. The ex-dividend date is Friday, October 9th. This represents a $2.08 annualized dividend and a dividend yield of 1.1%. NetApp’s dividend payout ratio is currently 29.34%.

Key Stories Impacting NetApp

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: Management emphasized the opportunity from AI workloads, cloud adoption and data infrastructure spending during its Q1 earnings call, reinforcing the view that NetApp can benefit from rising demand for high-performance storage and data-management solutions. NetApp Q1 Earnings Call: AI, Cloud Power Outlook
• Positive Sentiment: Recent quarterly results provide fundamental support: NetApp reported $2.58 in earnings per share versus a $2.12 consensus estimate, while revenue rose nearly 30% year over year to about $2.03 billion. The company also maintained fiscal 2027 EPS guidance of $9.73 to $10.03 and second-quarter guidance of $2.54 to $2.64.
• Positive Sentiment: NetApp’s shares have significantly outperformed the broader technology sector over the past year, and Wall Street remains generally constructive on the company’s growth prospects. NetApp Stock: Is NTAP Outperforming the Technology Sector?
• Neutral Sentiment: Analyst opinion is mixed: the consensus rating is “Hold,” with an average price target of $193.86, modestly above the recent trading level. Price targets range from $187 to $219.
• Neutral Sentiment: NetApp declared a quarterly dividend of $0.52 per share, equivalent to a $2.08 annualized payout and an approximately 1.1% yield, offering some income support.
• Negative Sentiment: Director Thomas Nevens sold 5,940 shares for approximately $1.16 million, reducing his position by 43.4%. EVP Elizabeth O’Callahan separately sold 1,000 shares for $184,740. The transactions are relatively small compared with NetApp’s market value but could create a modest sentiment overhang. NetApp Insider Trading

Hedge Funds Weigh In On NetApp

A number of institutional investors have recently modified their holdings of the company. National Pension Service raised its position in shares of NetApp by 145.1% during the 2nd quarter. National Pension Service now owns 539,405 shares of the data storage provider’s stock valued at $83,478,000 after acquiring an additional 319,332 shares in the last quarter. WINTON GROUP Ltd increased its holdings in shares of NetApp by 165.3% in the 2nd quarter. WINTON GROUP Ltd now owns 11,300 shares of the data storage provider’s stock worth $1,749,000 after acquiring an additional 7,041 shares during the period. Engineers Gate Manager LP increased its stake in shares of NetApp by 179.8% in the second quarter. Engineers Gate Manager LP now owns 19,686 shares of the data storage provider’s stock valued at $3,047,000 after purchasing an additional 12,650 shares during the period. Cidel Asset Management Inc. bought a new stake in NetApp during the 2nd quarter valued at $230,000. Finally, SVB Wealth LLC bought a new stake in NetApp during the 2nd quarter valued at $286,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Wall Street Analysts Forecast Growth

NTAP has been the subject of several research reports. Susquehanna lifted their price objective on NetApp from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Thursday, September 3rd. Zacks Research upgraded NetApp from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 9th. JPMorgan Chase & Co. raised their price target on NetApp from $110.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Wells Fargo & Company boosted their price target on NetApp from $180.00 to $190.00 and gave the stock an “equal weight” rating in a report on Thursday, September 3rd. Finally, Wall Street Zen upgraded NetApp from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 5th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $193.86.

NetApp Company Profile

NetApp, Inc (NASDAQ: NTAP) is a data infrastructure and cloud storage company that helps organizations manage, protect and access data across on-premises environments, private clouds and public clouds. Its offerings are designed to support enterprise workloads such as databases, business applications, artificial intelligence and virtualized computing.

The company’s portfolio includes all-flash and hybrid storage systems, cloud storage services, data management software and infrastructure-as-a-service solutions.