NetApp (NASDAQ:NTAP) EVP Sells $237,420.00 in Stock

NetApp, Inc. (NASDAQ:NTAP) EVP Elizabeth O’callahan sold 1,000 shares of the firm’s stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $237.42, for a total transaction of $237,420.00. Following the completion of the transaction, the executive vice president directly owned 29,737 shares in the company, valued at approximately $7,060,158.54. The trade was a 3.25% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

NetApp Stock Down 5.1%

NTAP stock traded down $10.90 during mid-day trading on Friday, reaching $203.80. 3,217,450 shares of the company traded hands, compared to its average volume of 2,725,941. 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 firm’s 50 day moving average price is $201.97 and its 200 day moving average price is $163.26. The stock has a market cap of $40.03 billion, a price-to-earnings ratio of 28.74, a P/E/G ratio of 2.31 and a beta of 1.46. NetApp, Inc. has a fifty-two week low of $93.69 and a fifty-two week high of $240.87.

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

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Friday, October 9th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, October 9th. NetApp’s dividend payout ratio is presently 29.34%.

Hedge Funds Weigh In On NetApp

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Roble Belko & Company Inc bought a new position in NetApp in the 1st quarter valued at $31,000. West Financial Advisors LLC bought a new stake in shares of NetApp during the 2nd quarter worth $37,000. Fortitude Family Office LLC raised its stake in shares of NetApp by 56.9% during the 3rd quarter. Fortitude Family Office LLC now owns 204 shares of the data storage provider’s stock worth $43,000 after purchasing an additional 74 shares during the period. University of Texas Texas AM Investment Management Co. bought a new stake in shares of NetApp during the 4th quarter worth $51,000. Finally, Bell Investment Advisors Inc bought a new position in NetApp during the second quarter valued at about $55,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NTAP. Northland Securities raised their price objective on NetApp from $171.00 to $187.00 and gave the company an “outperform” rating in a research note on Thursday, September 3rd. Wedbush lifted their price objective on shares of NetApp from $150.00 to $170.00 and gave the stock a “neutral” rating in a report on Thursday, September 3rd. Weiss Ratings upgraded shares of NetApp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Cantor Fitzgerald upgraded shares of NetApp to an “overweight” rating in a report on Wednesday, October 7th. Finally, Bank of America increased their target price on shares of NetApp from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Wednesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $213.20.

About NetApp

NetApp, Inc develops intelligent data infrastructure and data management solutions for enterprises, service providers, and government organizations. The company helps customers store, manage, protect, and access data across on-premises environments, private clouds, public clouds, and hybrid multicloud infrastructures.

Its portfolio includes enterprise storage systems, all-flash arrays, cloud-connected storage, object storage, and data management software. NetApp’s offerings include the ONTAP data management operating system, AFF and ASA storage systems, StorageGRID object storage, and BlueXP, a platform designed to help customers manage data and storage resources across multiple environments.