NetApp (NASDAQ:NTAP) EVP Elizabeth O’callahan Sells 1,000 Shares

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

NetApp Price Performance

NTAP opened at $174.55 on Wednesday. The firm has a market capitalization of $34.20 billion, a P/E ratio of 27.44, a PEG ratio of 3.00 and a beta of 1.46. The stock has a fifty day moving average of $150.42 and a 200-day moving average of $119.52. 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 12-month low of $93.69 and a 12-month high of $192.83.

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 analysts’ consensus estimates of $2.27 by ($0.24). The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.87 billion. NetApp had a net margin of 18.43% and a return on equity of 117.23%. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.93 EPS. 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 analysts forecast that NetApp, Inc. will post 7.16 EPS for the current fiscal year.

NetApp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Friday, July 10th will be issued a $0.52 dividend. The ex-dividend date is Friday, July 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. NetApp’s dividend payout ratio is currently 32.70%.

Institutional Investors Weigh In On NetApp

Several large investors have recently made changes to their positions in NTAP. Parallel Advisors LLC boosted its position in shares of NetApp by 2.1% during the 4th quarter. Parallel Advisors LLC now owns 5,007 shares of the data storage provider’s stock valued at $536,000 after acquiring an additional 101 shares during the last quarter. Park Square Financial Group LLC increased its position in shares of NetApp by 68.7% in the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock worth $29,000 after purchasing an additional 103 shares during the last quarter. Assetmark Inc. raised its stake in NetApp by 3.0% in the first quarter. Assetmark Inc. now owns 3,540 shares of the data storage provider’s stock valued at $362,000 after purchasing an additional 104 shares in the last quarter. Transcend Capital Advisors LLC lifted its position in NetApp by 5.8% during the fourth quarter. Transcend Capital Advisors LLC now owns 1,953 shares of the data storage provider’s stock valued at $209,000 after purchasing an additional 107 shares during the last quarter. Finally, Fifth Third Bancorp lifted its position in NetApp by 0.9% during the fourth quarter. Fifth Third Bancorp now owns 12,559 shares of the data storage provider’s stock valued at $1,345,000 after purchasing an additional 108 shares during the last quarter. Institutional investors own 92.17% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Argus raised their price target on shares of NetApp from $130.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Northland Securities upped their price objective on shares of NetApp from $137.00 to $171.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Weiss Ratings upgraded shares of NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, June 8th. JPMorgan Chase & Co. lifted their target price on shares of NetApp from $110.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Finally, Barclays boosted their price target on shares of NetApp from $120.00 to $199.00 and gave the company an “overweight” rating in a report on Friday, May 29th. Five equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $169.33.

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.