NetApp (NASDAQ:NTAP) EVP Sells $123,670.00 in Stock

NetApp, Inc. (NASDAQ:NTAP) EVP Elizabeth O’callahan sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $123.67, for a total value of $123,670.00. Following the completion of the sale, the executive vice president owned 23,628 shares of the company’s stock, valued at approximately $2,922,074.76. This represents a 4.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

NetApp Stock Down 0.9%

NTAP stock opened at $124.00 on Friday. The stock’s 50 day simple moving average is $109.52 and its 200 day simple moving average is $99.92. The company has a market cap of $24.75 billion, a P/E ratio of 21.91, a price-to-earnings-growth ratio of 2.72 and a beta of 1.46. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.28 and a current ratio of 1.31. NetApp, Inc. has a fifty-two week low of $71.84 and a fifty-two week high of $135.45.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, October 3rd. NetApp’s payout ratio is currently 36.75%.

Analyst Ratings Changes

NTAP has been the topic of a number of recent research reports. Wells Fargo & Company dropped their target price on NetApp from $115.00 to $100.00 and set an “equal weight” rating on the stock in a report on Friday, May 30th. UBS Group boosted their price objective on NetApp from $108.00 to $114.00 and gave the stock a “neutral” rating in a research report on Thursday, August 28th. JPMorgan Chase & Co. raised their target price on NetApp from $115.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, July 17th. Barclays boosted their target price on shares of NetApp from $117.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Finally, Northland Securities raised their price target on shares of NetApp from $119.00 to $120.00 and gave the stock a “market perform” rating in a research note on Thursday, August 28th. Seven research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $124.07.

Institutional Trading of NetApp

A number of hedge funds and other institutional investors have recently bought and sold shares of NTAP. Manchester Capital Management LLC grew its position in shares of NetApp by 375.0% during the 1st quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider’s stock valued at $25,000 after purchasing an additional 225 shares in the last quarter. 1248 Management LLC purchased a new stake in shares of NetApp in the first quarter worth $25,000. Harbour Investments Inc. boosted its stake in NetApp by 287.9% during the second quarter. Harbour Investments Inc. now owns 256 shares of the data storage provider’s stock valued at $27,000 after buying an additional 190 shares during the period. Harbor Asset Planning Inc. purchased a new position in NetApp during the second quarter worth about $28,000. Finally, Olde Wealth Management LLC bought a new position in NetApp in the 1st quarter worth about $29,000. Institutional investors own 92.17% of the company’s stock.

NetApp Company Profile

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.