NetApp, Inc. (NASDAQ:NTAP) EVP Elizabeth M. O’callahan Sells 705 Shares

NetApp, Inc. (NASDAQ:NTAP) EVP Elizabeth M. O’callahan sold 705 shares of the firm’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $126.20, for a total value of $88,971.00. Following the completion of the sale, the executive vice president now directly owns 11,694 shares of the company’s stock, valued at $1,475,782.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

NetApp Price Performance

Shares of NetApp stock opened at $126.93 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 1.34. NetApp, Inc. has a twelve month low of $70.82 and a twelve month high of $135.01. The business has a 50-day moving average price of $123.03 and a 200 day moving average price of $118.68. The firm has a market cap of $25.99 billion, a PE ratio of 24.79, a P/E/G ratio of 4.77 and a beta of 1.23.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, August 28th. The data storage provider reported $1.56 EPS for the quarter, topping the consensus estimate of $1.45 by $0.11. NetApp had a return on equity of 121.41% and a net margin of 17.01%. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period in the previous year, the business earned $0.84 EPS. NetApp’s quarterly revenue was up 7.6% on a year-over-year basis. Sell-side analysts predict that NetApp, Inc. will post 5.71 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Friday, October 4th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, October 4th. This represents a $2.08 annualized dividend and a yield of 1.64%. NetApp’s dividend payout ratio (DPR) is currently 40.63%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on NTAP shares. Barclays raised their price objective on NetApp from $116.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 29th. Wedbush reissued a “neutral” rating and issued a $120.00 price objective on shares of NetApp in a research report on Monday, August 26th. Susquehanna reissued a “positive” rating and issued a $155.00 price objective on shares of NetApp in a research report on Monday, August 26th. UBS Group raised their price objective on NetApp from $121.00 to $134.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Finally, Evercore ISI lifted their price target on NetApp from $120.00 to $130.00 and gave the stock an “in-line” rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $129.06.

Institutional Investors Weigh In On NetApp

Large investors have recently bought and sold shares of the company. UMB Bank n.a. grew its position in shares of NetApp by 11.8% in the second quarter. UMB Bank n.a. now owns 784 shares of the data storage provider’s stock valued at $101,000 after purchasing an additional 83 shares in the last quarter. Aviso Wealth Management grew its position in shares of NetApp by 1.4% in the second quarter. Aviso Wealth Management now owns 6,149 shares of the data storage provider’s stock valued at $792,000 after purchasing an additional 83 shares in the last quarter. Waldron Private Wealth LLC grew its position in shares of NetApp by 4.3% in the second quarter. Waldron Private Wealth LLC now owns 2,255 shares of the data storage provider’s stock valued at $290,000 after purchasing an additional 92 shares in the last quarter. Quarry LP grew its position in shares of NetApp by 11.7% in the second quarter. Quarry LP now owns 876 shares of the data storage provider’s stock valued at $113,000 after purchasing an additional 92 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co grew its position in shares of NetApp by 0.5% in the second quarter. Elo Mutual Pension Insurance Co now owns 18,920 shares of the data storage provider’s stock valued at $2,437,000 after purchasing an additional 95 shares in the last quarter. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

About NetApp

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.