NetApp (NASDAQ:NTAP) EVP Sells $193,820.00 in Stock

NetApp, Inc. (NASDAQ:NTAP) EVP Elizabeth O’callahan sold 1,000 shares of NetApp stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $193.82, for a total value of $193,820.00. Following the sale, the executive vice president directly owned 30,297 shares in the company, valued at $5,872,164.54. This trade represents a 3.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

NetApp Trading Up 1.0%

NTAP stock opened at $207.08 on Friday. NetApp, Inc. has a 1-year low of $93.69 and a 1-year high of $209.06. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.44 and a quick ratio of 1.39. The company has a market capitalization of $40.64 billion, a price-to-earnings ratio of 32.56, a PEG ratio of 3.68 and a beta of 1.45. The business has a 50 day simple moving average of $169.53 and a two-hundred day simple moving average of $131.42.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Thursday, May 28th. The data storage provider reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.24). The company had revenue of $1.95 billion for 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 last year, the business earned $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. Research analysts anticipate that NetApp, Inc. will post 7.3 EPS for the current fiscal year.

NetApp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Investors of record on Friday, July 10th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, July 10th. NetApp’s dividend payout ratio (DPR) is presently 32.70%.

Analyst Ratings Changes

A number of brokerages have issued reports on NTAP. Weiss Ratings upgraded shares of NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Wall Street Zen downgraded shares of NetApp from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 29th. UBS Group restated a “neutral” rating and set a $160.00 price objective on shares of NetApp in a research report on Friday, May 29th. Susquehanna lifted their target price on NetApp from $110.00 to $185.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Finally, JPMorgan Chase & Co. boosted their target price on NetApp from $110.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Five research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $172.33.

Institutional Investors Weigh In On NetApp

Several large investors have recently bought and sold shares of NTAP. BlackRock Inc. purchased a new stake in NetApp during the second quarter valued at $2,925,168,000. Primecap Management Co. CA purchased a new position in shares of NetApp in the 2nd quarter worth $1,395,423,000. Norges Bank purchased a new position in shares of NetApp in the 4th quarter worth $458,060,000. First Trust Advisors LP increased its holdings in shares of 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 buying an additional 2,046,912 shares during the last quarter. Finally, Legal & General Group Plc bought a new stake in shares of NetApp in the 2nd quarter worth about $258,093,000. Institutional investors own 92.17% of the company’s stock.

About NetApp

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.