NetApp, Inc. (NASDAQ:NTAP) Director Sells $397,393.59 in Stock

NetApp, Inc. (NASDAQ:NTAP) Director Thomas Michael Nevens sold 3,333 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $119.23, for a total transaction of $397,393.59. Following the completion of the transaction, the director now owns 9,277 shares in the company, valued at $1,106,096.71. The trade was a 26.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

NetApp Price Performance

NTAP stock opened at $123.45 on Thursday. NetApp, Inc. has a 52-week low of $77.30 and a 52-week high of $135.01. The stock’s fifty day simple moving average is $121.56 and its 200-day simple moving average is $122.36. The stock has a market capitalization of $25.28 billion, a price-to-earnings ratio of 24.11, a price-to-earnings-growth ratio of 3.13 and a beta of 1.24. 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 (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, August 28th. The data storage provider reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.11. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. NetApp had a net margin of 17.01% and a return on equity of 121.41%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 earnings per share. Equities research analysts expect that NetApp, Inc. will post 5.71 EPS for the current year.

NetApp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Friday, October 4th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.08 annualized dividend and a dividend yield of 1.68%. NetApp’s dividend payout ratio is currently 40.63%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on NTAP shares. Stifel Nicolaus lifted their price target on NetApp from $138.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Loop Capital upgraded shares of NetApp from a “hold” rating to a “buy” rating and upped their price target for the company from $121.00 to $150.00 in a report on Tuesday, September 3rd. Oppenheimer began coverage on NetApp in a research note on Wednesday, November 13th. They set a “market perform” rating on the stock. Evercore ISI boosted their price objective on shares of NetApp from $120.00 to $130.00 and gave the stock an “in-line” rating in a research note on Monday, August 12th. Finally, UBS Group boosted their target price on shares of NetApp from $121.00 to $134.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $129.06.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NTAP. Hollencrest Capital Management acquired a new stake in NetApp in the 2nd quarter valued at about $26,000. Northwest Investment Counselors LLC purchased a new stake in shares of NetApp in the third quarter worth approximately $27,000. New Covenant Trust Company N.A. acquired a new stake in NetApp during the first quarter valued at $28,000. Redwood Wealth Management Group LLC acquired a new position in NetApp in the second quarter worth approximately $32,000. Finally, Crewe Advisors LLC acquired a new stake in shares of NetApp in the 1st quarter valued at $35,000. 92.17% of the stock is currently owned by 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.