NetApp (NASDAQ:NTAP) EVP Sells $170,920.00 in Stock

NetApp, Inc. (NASDAQ:NTAP) EVP Elizabeth O’callahan sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $170.92, for a total value of $170,920.00. Following the transaction, the executive vice president directly owned 31,297 shares in the company, valued at $5,349,283.24. The trade was a 3.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

NetApp Stock Up 6.5%

NASDAQ NTAP traded up $10.62 during mid-day trading on Tuesday, hitting $174.55. The company’s stock had a trading volume of 3,025,451 shares, compared to its average volume of 2,783,020. The company’s 50 day simple moving average is $149.21 and its 200 day simple moving average is $119.06. NetApp, Inc. has a twelve month low of $93.69 and a twelve month high of $192.83. 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 firm has a market capitalization of $34.20 billion, a price-to-earnings ratio of 27.44, a PEG ratio of 3.09 and a beta of 1.46.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Thursday, May 28th. The data storage provider reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.24). NetApp had a return on equity of 117.23% and a net margin of 18.43%.The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the company posted $1.93 EPS. The business’s quarterly revenue was up 12.5% on a year-over-year basis. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. Analysts anticipate that NetApp, Inc. will post 7.16 earnings per share for the current year.

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Investors of record on Friday, July 10th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.08 annualized dividend and a yield of 1.2%. NetApp’s dividend payout ratio (DPR) is presently 32.70%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NTAP. JPMorgan Chase & Co. boosted their price objective on NetApp from $110.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Barclays raised their target price on NetApp from $120.00 to $199.00 and gave the company an “overweight” rating in a report on Friday, May 29th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $200.00 target price on shares of NetApp in a research report on Tuesday, June 2nd. Wedbush upped their price target on NetApp from $115.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Finally, Susquehanna increased their price target on NetApp from $110.00 to $185.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, NetApp presently has an average rating of “Hold” and an average target price of $169.33.

Institutional Investors Weigh In On NetApp

A number of institutional investors have recently added to or reduced their stakes in the company. Park Square Financial Group LLC lifted its position in shares of NetApp by 68.7% during the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock worth $29,000 after buying an additional 103 shares in the last quarter. Gen Wealth Partners Inc purchased a new position in shares of NetApp in the 4th quarter worth approximately $30,000. DV Equities LLC bought a new position in shares of NetApp in the fourth quarter valued at approximately $30,000. Roble Belko & Company Inc bought a new position in shares of NetApp in the first quarter valued at approximately $31,000. Finally, JFS Wealth Advisors LLC increased its position in shares of NetApp by 176.3% during the fourth quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider’s stock valued at $34,000 after acquiring an additional 201 shares during the last quarter. 92.17% of the stock is owned by institutional investors.

NetApp Company Profile

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.