NetApp (NASDAQ:NTAP) Director Sells $1,159,547.40 in Stock

NetApp, Inc. (NASDAQ:NTAP) Director Thomas Nevens sold 5,940 shares of the stock in a transaction on Friday, September 11th. The shares were sold at an average price of $195.21, for a total value of $1,159,547.40. Following the sale, the director directly owned 7,747 shares in the company, valued at approximately $1,512,291.87. The trade was a 43.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

NetApp Price Performance

NetApp stock traded down $11.01 during midday trading on Monday, reaching $188.27. 2,008,890 shares of the company were exchanged, compared to its average volume of 2,700,920. The firm’s 50-day simple moving average is $182.09 and its 200-day simple moving average is $144.20. NetApp, Inc. has a 1 year low of $93.69 and a 1 year high of $209.06. The company has a market capitalization of $36.98 billion, a price-to-earnings ratio of 26.55, a P/E/G ratio of 2.14 and a beta of 1.44. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.16 and a current ratio of 1.24.

NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.46. The company had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.84 billion. NetApp had a net margin of 19.18% and a return on equity of 119.13%. The firm’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same period last year, the company earned $1.15 EPS. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. On average, analysts anticipate that NetApp, Inc. will post 8.32 EPS for the current year.

NetApp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Friday, October 9th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, October 9th. This represents a $2.08 annualized dividend and a dividend yield of 1.1%. NetApp’s dividend payout ratio (DPR) is 29.34%.

Analyst Ratings Changes

Several equities analysts recently weighed in on NTAP shares. Zacks Research upgraded NetApp from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 9th. Argus set a $225.00 price objective on shares of NetApp in a research note on Friday. Morgan Stanley increased their price objective on shares of NetApp from $173.00 to $191.00 and gave the stock an “equal weight” rating in a report on Thursday, September 3rd. JPMorgan Chase & Co. raised their target price on shares of NetApp from $110.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Finally, UBS Group upped their price target on shares of NetApp from $160.00 to $171.00 and gave the stock a “neutral” rating in a research report on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, NetApp has an average rating of “Hold” and a consensus price target of $193.86.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NTAP. National Pension Service grew its stake in shares of NetApp by 145.1% in the second quarter. National Pension Service now owns 539,405 shares of the data storage provider’s stock valued at $83,478,000 after buying an additional 319,332 shares in the last quarter. WINTON GROUP Ltd lifted its position in NetApp by 165.3% during the 2nd quarter. WINTON GROUP Ltd now owns 11,300 shares of the data storage provider’s stock worth $1,749,000 after acquiring an additional 7,041 shares in the last quarter. Engineers Gate Manager LP boosted its holdings in NetApp by 179.8% in the 2nd quarter. Engineers Gate Manager LP now owns 19,686 shares of the data storage provider’s stock worth $3,047,000 after acquiring an additional 12,650 shares during the period. Cidel Asset Management Inc. purchased a new position in NetApp in the 2nd quarter worth approximately $230,000. Finally, SVB Wealth LLC acquired a new stake in NetApp in the second quarter valued at approximately $286,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

NetApp Company Profile

NetApp, Inc (NASDAQ: NTAP) is a data infrastructure and cloud storage company that helps organizations manage, protect and access data across on-premises environments, private clouds and public clouds. Its offerings are designed to support enterprise workloads such as databases, business applications, artificial intelligence and virtualized computing.

The company’s portfolio includes all-flash and hybrid storage systems, cloud storage services, data management software and infrastructure-as-a-service solutions.