Cesar Cernuda Sells 2,608 Shares of NetApp (NASDAQ:NTAP) Stock

NetApp, Inc. (NASDAQ:NTAP) President Cesar Cernuda sold 2,608 shares of NetApp stock in a transaction on Monday, August 17th. The shares were sold at an average price of $204.48, for a total transaction of $533,283.84. Following the completion of the sale, the president owned 46,530 shares in the company, valued at $9,514,454.40. The trade was a 5.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Cesar Cernuda also recently made the following trade(s):

• On Tuesday, June 23rd, Cesar Cernuda sold 49,464 shares of NetApp stock. The shares were sold at an average price of $154.82, for a total value of $7,658,016.48.

NetApp Trading Down 5.0%

NASDAQ:NTAP traded down $10.23 on Wednesday, reaching $194.48. 2,726,066 shares of the stock traded hands, compared to its average volume of 2,725,330. The company’s 50 day moving average is $171.00 and its 200-day moving average is $133.13. NetApp, Inc. has a 1-year low of $93.69 and a 1-year high of $209.06. 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 $38.16 billion, a price-to-earnings ratio of 30.58, a price-to-earnings-growth ratio of 3.72 and a beta of 1.45.

NetApp (NASDAQ:NTAP) last announced 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). The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.87 billion. NetApp had a net margin of 18.43% and a return on equity of 117.23%. NetApp’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period last year, the company posted $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. Equities research analysts anticipate that NetApp, Inc. will post 7.3 EPS for the current fiscal year.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, July 10th. NetApp’s dividend payout ratio is 32.70%.

Institutional Trading of NetApp

A number of institutional investors and hedge funds have recently made changes to their positions in NTAP. West Financial Advisors LLC acquired a new stake in shares of NetApp during the 2nd quarter worth about $37,000. Park Square Financial Group LLC increased its position in shares of NetApp by 68.7% in the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock valued at $29,000 after buying an additional 103 shares in the last quarter. Gen Wealth Partners Inc acquired a new stake in NetApp during the 4th quarter worth $30,000. DV Equities LLC bought a new stake in shares of NetApp in the fourth quarter worth about $30,000. Finally, Measured Wealth Private Client Group LLC acquired a new stake in shares of NetApp during the third quarter worth $35,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on NTAP shares. Northland Securities lifted their price objective on NetApp from $137.00 to $171.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. 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 report on Friday, May 29th. Barclays raised their price objective on shares of NetApp from $120.00 to $199.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. Citigroup lifted their price target on shares of NetApp from $150.00 to $209.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, UBS Group restated a “neutral” rating and issued a $160.00 target price on shares of NetApp in a report on Friday, May 29th. Five research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $177.25.

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.