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

NetApp, Inc. (NASDAQ:NTAP) EVP Elizabeth O’callahan sold 1,000 shares of the stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $184.74, for a total transaction of $184,740.00. Following the completion of the transaction, the executive vice president directly owned 30,737 shares of the company’s stock, valued at $5,678,353.38. This trade represents a 3.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

NetApp Price Performance

Shares of NTAP traded down $11.01 during mid-day trading on Monday, reaching $188.27. The company had a trading volume of 2,008,890 shares, compared to its average volume of 2,700,920. 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. The company’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.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Wednesday, September 2nd. The data storage provider reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.46. The business had revenue of $2.02 billion during 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 quarterly revenue was up 29.9% compared to the same quarter last year. During the same period in the prior 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. Analysts expect that NetApp, Inc. will post 8.32 EPS for the current year.

NetApp Dividend Announcement

The business also recently declared 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 is 29.34%.

Hedge Funds Weigh In On NetApp

Hedge funds have recently modified their holdings of the business. 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 worth $83,478,000 after purchasing an additional 319,332 shares during the last quarter. WINTON GROUP Ltd raised 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 purchasing an additional 7,041 shares during the last quarter. Engineers Gate Manager LP raised its position in NetApp by 179.8% during the 2nd quarter. Engineers Gate Manager LP now owns 19,686 shares of the data storage provider’s stock worth $3,047,000 after purchasing an additional 12,650 shares during the last quarter. Cidel Asset Management Inc. acquired a new position in NetApp during the 2nd quarter worth about $230,000. Finally, SVB Wealth LLC acquired a new position in NetApp during the 2nd quarter worth about $286,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on NTAP shares. Argus set a $225.00 price objective on NetApp in a report on Friday. Citigroup lowered their target price on NetApp from $209.00 to $190.00 and set a “neutral” rating for the company in a report on Thursday, September 3rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of NetApp in a research report on Friday, September 4th. JPMorgan Chase & Co. boosted 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. Finally, UBS Group upped their price objective on NetApp from $160.00 to $171.00 and gave the company a “neutral” rating in a research note on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $193.86.

About NetApp

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.