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

NetApp, Inc. (NASDAQ:NTAP) EVP Elizabeth O’callahan sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $193.82, for a total transaction of $193,820.00. Following the sale, the executive vice president directly owned 30,297 shares of the company’s stock, valued at approximately $5,872,164.54. This trade represents a 3.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

NetApp Stock Performance

NASDAQ NTAP opened at $204.99 on Friday. The firm’s 50 day simple moving average is $168.72 and its 200 day simple moving average is $130.89. The firm has a market capitalization of $40.23 billion, a price-to-earnings ratio of 32.23, a P/E/G ratio of 3.62 and a beta of 1.45. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 1.84. NetApp, Inc. has a 1 year low of $93.69 and a 1 year high of $209.06.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Thursday, May 28th. The data storage provider reported $2.03 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.24). The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. NetApp had a net margin of 18.43% and a return on equity of 117.23%. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.93 earnings per share. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. As a group, research analysts expect that NetApp, Inc. will post 7.3 earnings per share for the current fiscal year.

NetApp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 29th. Investors of record on Friday, July 10th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, July 10th. NetApp’s dividend payout ratio is currently 32.70%.

Analyst Upgrades and Downgrades

NTAP has been the subject of several research analyst reports. Bank of America boosted their target price on NetApp from $125.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. UBS Group reaffirmed a “neutral” rating and set a $160.00 price target on shares of NetApp in a report on Friday, May 29th. The Goldman Sachs Group reiterated a “buy” rating and set a $200.00 price objective on shares of NetApp in a research report on Tuesday, June 2nd. Citigroup increased their price objective on shares of NetApp from $114.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Finally, Weiss Ratings upgraded shares of NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, June 8th. Five analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $172.33.

Hedge Funds Weigh In On NetApp

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

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.