NetApp (NASDAQ:NTAP) CAO Lorenzo Daniel De Sells 275 Shares

NetApp, Inc. (NASDAQ:NTAP) CAO Lorenzo Daniel De sold 275 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $120.00, for a total transaction of $33,000.00. Following the sale, the chief accounting officer directly owned 1,090 shares of the company’s stock, valued at $130,800. The trade was a 20.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

NetApp Trading Down 1.3%

Shares of NTAP opened at $118.97 on Thursday. The stock has a market capitalization of $23.48 billion, a P/E ratio of 19.89, a PEG ratio of 3.39 and a beta of 1.28. The company has a quick ratio of 1.36, a current ratio of 1.39 and a debt-to-equity ratio of 2.15. The firm has a fifty day simple moving average of $106.34 and a two-hundred day simple moving average of $106.52. NetApp, Inc. has a twelve month low of $93.69 and a twelve month high of $126.66.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Thursday, February 26th. The data storage provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.05. The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.70 billion. NetApp had a net margin of 18.07% and a return on equity of 118.11%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.91 EPS. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. On average, research analysts anticipate that NetApp, Inc. will post 6.48 EPS for the current year.

NetApp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 22nd. Shareholders of record on Friday, April 3rd were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $2.08 annualized dividend and a yield of 1.7%. NetApp’s dividend payout ratio is presently 34.78%.

Analyst Ratings Changes

Several brokerages have commented on NTAP. Citigroup lowered shares of NetApp from a “neutral” rating to a “mixed” rating in a report on Thursday, May 14th. Wedbush restated a “neutral” rating and issued a $115.00 price objective on shares of NetApp in a report on Wednesday, February 25th. Weiss Ratings lowered shares of NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 13th. Bank of America upped their price objective on shares of NetApp from $118.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Wall Street Zen lowered shares of NetApp from a “buy” rating to a “hold” rating in a report on Sunday, April 19th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $122.27.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. State Street Corp increased its stake in shares of NetApp by 1.1% in the 4th quarter. State Street Corp now owns 10,192,354 shares of the data storage provider’s stock worth $1,091,499,000 after acquiring an additional 115,451 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of NetApp by 17.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,915,553 shares of the data storage provider’s stock worth $582,296,000 after acquiring an additional 718,409 shares in the last quarter. Norges Bank bought a new position in shares of NetApp in the 4th quarter worth about $458,060,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of NetApp by 17.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,127,533 shares of the data storage provider’s stock worth $442,018,000 after acquiring an additional 611,003 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in shares of NetApp by 127.0% in the 1st quarter. First Trust Advisors LP now owns 3,658,066 shares of the data storage provider’s stock worth $374,549,000 after acquiring an additional 2,046,912 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors.

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.