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 firm’s stock in a transaction on Friday, July 10th. The shares were sold at an average price of $170.92, for a total transaction of $170,920.00. Following the transaction, the executive vice president directly owned 31,297 shares of the company’s stock, valued at $5,349,283.24. The trade was a 3.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

NetApp Stock Performance

Shares of NetApp stock opened at $162.10 on Thursday. The stock has a market cap of $31.76 billion, a price-to-earnings ratio of 25.49, a P/E/G ratio of 3.19 and a beta of 1.46. NetApp, Inc. has a twelve month low of $93.69 and a twelve month high of $192.83. The company’s fifty day moving average is $151.43 and its 200 day moving average is $119.88. The company has a quick ratio of 1.39, a current ratio of 1.44 and a debt-to-equity ratio of 1.84.

NetApp (NASDAQ:NTAP) last announced its earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.24). The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.87 billion. NetApp had a return on equity of 117.23% and a net margin of 18.43%.The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the prior year, the business 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. Sell-side analysts forecast that NetApp, Inc. will post 7.16 EPS for the current year.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 29th. Investors of record on Friday, July 10th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, July 10th. NetApp’s payout ratio is currently 32.70%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. West Financial Advisors LLC bought a new stake in NetApp in the second quarter valued at $37,000. 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 worth $29,000 after purchasing an additional 103 shares in the last quarter. Gen Wealth Partners Inc acquired a new stake in shares of NetApp in the 4th quarter valued at about $30,000. DV Equities LLC acquired a new stake in shares of NetApp in the 4th quarter valued at about $30,000. Finally, Measured Wealth Private Client Group LLC acquired a new stake in shares of NetApp in the 3rd quarter valued at about $35,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Analyst Ratings Changes

NTAP has been the subject of several analyst reports. Weiss Ratings upgraded shares of NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Wall Street Zen lowered shares of NetApp from a “strong-buy” rating to a “buy” rating in a research note on Monday. Barclays increased their price objective on shares of NetApp from $120.00 to $199.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. JPMorgan Chase & Co. lifted their target price on shares of NetApp from $110.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $200.00 target price on shares of NetApp in a report on Tuesday, June 2nd. Five research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, NetApp has a consensus rating of “Hold” and a consensus price target of $169.33.

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.