NetApp (NASDAQ:NTAP) CAO Sells $38,495.25 in Stock

NetApp, Inc. (NASDAQ:NTAP) CAO Lorenzo Daniel De sold 225 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $171.09, for a total value of $38,495.25. Following the completion of the sale, the chief accounting officer owned 1,090 shares in the company, valued at $186,488.10. This represents a 17.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Lorenzo Daniel De also recently made the following trade(s):

• On Monday, May 18th, Lorenzo Daniel De sold 275 shares of NetApp stock. The stock was sold at an average price of $120.00, for a total value of $33,000.00.

NetApp Price Performance

Shares of NASDAQ NTAP opened at $167.04 on Friday. The stock’s 50-day moving average is $119.80 and its two-hundred day moving average is $110.25. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.44 and a quick ratio of 1.39. NetApp, Inc. has a 1-year low of $93.69 and a 1-year high of $192.83. The company has a market cap of $32.96 billion, a price-to-earnings ratio of 26.26, a price-to-earnings-growth ratio of 3.28 and a beta of 1.45.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results 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 company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter last year, the company earned $1.93 EPS. NetApp’s revenue for the quarter was up 12.5% compared to the same quarter last year. 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 forecast that NetApp, Inc. will post 7.14 EPS for the current fiscal year.

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th will be issued 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 1.2%. NetApp’s dividend payout ratio is 32.70%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Susquehanna upped their price target on NetApp from $110.00 to $185.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. JPMorgan Chase & Co. upped their price target on NetApp from $110.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Weiss Ratings downgraded NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 13th. The Goldman Sachs Group restated a “buy” rating and set a $200.00 price target on shares of NetApp in a report on Tuesday. Finally, Barclays increased their price objective on NetApp from $120.00 to $199.00 and gave the company an “overweight” rating in a report on Friday, May 29th. Four research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, NetApp has a consensus rating of “Hold” and an average price target of $169.33.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Rossby Financial LCC increased its holdings in shares of NetApp by 105.5% in the 3rd quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 115 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new position in shares of NetApp in the 3rd quarter valued at about $27,000. Park Square Financial Group LLC increased its holdings 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 acquiring an additional 103 shares during the last quarter. Gen Wealth Partners Inc purchased a new position in shares of NetApp in the 4th quarter valued at about $30,000. Finally, DV Equities LLC acquired a new stake in shares of NetApp in the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

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.