NetApp (NASDAQ:NTAP) EVP Sells $193,820.00 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 Monday, August 10th. The shares were sold at an average price of $193.82, for a total value of $193,820.00. Following the completion of the transaction, the executive vice president directly owned 30,297 shares of the company’s stock, valued at $5,872,164.54. This trade represents a 3.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

NetApp Stock Up 1.8%

NetApp stock traded up $3.58 during mid-day trading on Wednesday, hitting $202.05. The company had a trading volume of 1,582,888 shares, compared to its average volume of 2,729,282. The company has a quick ratio of 1.39, a current ratio of 1.44 and a debt-to-equity ratio of 1.84. NetApp, Inc. has a 1 year low of $93.69 and a 1 year high of $202.32. The business has a fifty day moving average of $168.20 and a 200 day moving average of $130.13. The stock has a market cap of $39.65 billion, a price-to-earnings ratio of 31.77, a PEG ratio of 3.63 and a beta of 1.45.

NetApp (NASDAQ:NTAP) last issued 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 company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the prior year, the firm posted $1.93 EPS. The firm’s quarterly revenue 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. On average, sell-side analysts expect that NetApp, Inc. will post 7.16 earnings per share for the current fiscal year.

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 29th. Investors of record on Friday, July 10th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. NetApp’s payout ratio is 32.70%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on NTAP shares. Wells Fargo & Company lifted their target price on NetApp from $115.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Friday, May 29th. Wedbush upped their target price on NetApp from $115.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Barclays boosted their price objective on NetApp from $120.00 to $199.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. JPMorgan Chase & Co. increased their price objective on NetApp from $110.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Finally, Susquehanna raised their target price on shares of NetApp from $110.00 to $185.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Five investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, NetApp currently has an average rating of “Hold” and a consensus target price of $172.33.

Hedge Funds Weigh In On NetApp

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. grew its stake in shares of NetApp by 38.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider’s stock valued at $67,000 after purchasing an additional 210 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of NetApp during the second quarter worth approximately $315,000. Cerity Partners LLC lifted its holdings in shares of NetApp by 9.9% during the second quarter. Cerity Partners LLC now owns 46,792 shares of the data storage provider’s stock worth $4,986,000 after purchasing an additional 4,232 shares during the period. Bank of Nova Scotia grew its position in NetApp by 7.3% in the 2nd quarter. Bank of Nova Scotia now owns 24,301 shares of the data storage provider’s stock valued at $2,589,000 after buying an additional 1,662 shares during the last quarter. Finally, NewEdge Advisors LLC grew its position in NetApp by 12.7% in the 2nd quarter. NewEdge Advisors LLC now owns 20,161 shares of the data storage provider’s stock valued at $2,148,000 after buying an additional 2,277 shares during the last quarter. 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.