Insider Selling: NetApp (NASDAQ:NTAP) EVP Sells 1,000 Shares of Stock

NetApp, Inc. (NASDAQ:NTAP) EVP Elizabeth O’callahan sold 1,000 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $163.48, for a total value of $163,480.00. Following the sale, the executive vice president owned 32,297 shares of the company’s stock, valued at $5,279,913.56. This represents a 3.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

NetApp Trading Up 0.7%

NASDAQ:NTAP traded up $1.14 on Friday, hitting $161.61. 1,774,599 shares of the stock were exchanged, compared to its average volume of 2,698,820. The stock has a market cap of $31.66 billion, a PE ratio of 25.41, a PEG ratio of 2.94 and a beta of 1.45. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 1.84. The stock has a fifty day moving average of $124.72 and a 200-day moving average of $111.92. NetApp, Inc. has a fifty-two week low of $93.69 and a fifty-two week high of $192.83.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Thursday, May 28th. The data storage provider reported $2.03 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.24). The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. NetApp had a return on equity of 117.23% and a net margin of 18.43%.The business’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the company 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. As a group, equities analysts expect that NetApp, Inc. will post 7.16 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, July 10th. This represents a $2.08 annualized dividend and a yield of 1.3%. NetApp’s dividend payout ratio is currently 32.70%.

Wall Street Analyst Weigh In

NTAP has been the subject of a number of recent research reports. Wells Fargo & Company increased their target price on NetApp from $115.00 to $180.00 and gave the company an “equal weight” rating in a research note on Friday, May 29th. Wall Street Zen lowered NetApp from a “buy” rating to a “hold” rating in a research note on Sunday, April 19th. UBS Group reiterated a “neutral” rating and issued a $160.00 target price on shares of NetApp in a research note on Friday, May 29th. JPMorgan Chase & Co. increased their target price on NetApp from $110.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Finally, Susquehanna increased their target price on NetApp from $110.00 to $185.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $169.33.

Institutional Investors Weigh In On NetApp

Large investors have recently modified their holdings of the stock. Rossby Financial LCC grew its stake in shares of NetApp by 105.5% in the third quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock valued at $27,000 after buying an additional 115 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new position in NetApp in the third quarter valued at about $27,000. Park Square Financial Group LLC boosted its holdings in NetApp by 68.7% in the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock valued at $29,000 after purchasing an additional 103 shares during the last quarter. Gen Wealth Partners Inc purchased a new position in NetApp in the fourth quarter valued at about $30,000. Finally, DV Equities LLC acquired a new position in shares of NetApp in the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds 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.