NetApp (NASDAQ:NTAP) CAO Sells $94,936.73 in Stock

NetApp, Inc. (NASDAQ:NTAP) CAO Lorenzo Daniel De sold 779 shares of the business’s stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $121.87, for a total value of $94,936.73. The sale was disclosed in a filing with the SEC, which is available through this link.

NetApp Trading Down 1.1%

Shares of NASDAQ NTAP opened at $118.57 on Tuesday. The business’s 50 day moving average is $113.27 and its two-hundred day moving average is $102.08. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.31 and a quick ratio of 1.28. NetApp, Inc. has a 1-year low of $71.84 and a 1-year high of $135.45. The stock has a market capitalization of $23.67 billion, a P/E ratio of 20.95, a PEG ratio of 2.60 and a beta of 1.46.

NetApp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.8%. NetApp’s dividend payout ratio is currently 36.75%.

Analysts Set New Price Targets

A number of research firms have recently commented on NTAP. Barclays upped their target price on NetApp from $117.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Citigroup upped their target price on NetApp from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Monday, August 11th. Northland Securities upped their target price on NetApp from $119.00 to $120.00 and gave the company a “market perform” rating in a research note on Thursday, August 28th. JPMorgan Chase & Co. upped their target price on NetApp from $115.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, July 17th. Finally, Argus reaffirmed a “buy” rating and set a $130.00 target price on shares of NetApp in a research note on Friday, August 29th. Seven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $124.07.

Institutional Trading of NetApp

Hedge funds have recently bought and sold shares of the stock. Harbour Investments Inc. lifted its holdings in NetApp by 287.9% during the second quarter. Harbour Investments Inc. now owns 256 shares of the data storage provider’s stock worth $27,000 after buying an additional 190 shares during the period. Harbor Asset Planning Inc. purchased a new stake in NetApp during the second quarter worth $28,000. 1248 Management LLC purchased a new stake in NetApp during the first quarter worth $25,000. Manchester Capital Management LLC lifted its holdings in NetApp by 375.0% during the first quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider’s stock worth $25,000 after buying an additional 225 shares during the period. Finally, CVA Family Office LLC lifted its holdings in NetApp by 300.0% during the second quarter. CVA Family Office LLC now owns 292 shares of the data storage provider’s stock worth $31,000 after buying an additional 219 shares during the period. Hedge funds and other institutional investors own 92.17% of the company’s stock.

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.