Insider Selling: NetApp (NASDAQ:NTAP) EVP Sells $163,480.00 in Stock

NetApp, Inc. (NASDAQ:NTAP) EVP Elizabeth O’callahan sold 1,000 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $163.48, for a total transaction of $163,480.00. Following the completion of the sale, the executive vice president directly owned 32,297 shares in the company, valued at approximately $5,279,913.56. The trade was a 3.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

NetApp Stock Performance

Shares of NetApp stock opened at $161.61 on Monday. NetApp, Inc. has a 12-month low of $93.69 and a 12-month high of $192.83. The company has a market cap of $31.66 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 2.95 and a beta of 1.44. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 1.84. The company’s 50-day moving average price is $125.92 and its 200-day moving average price is $112.29.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.24). NetApp had a return on equity of 117.23% and a net margin of 18.43%.The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the previous year, the company posted $1.93 earnings per share. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. On average, equities analysts expect that NetApp, Inc. will post 7.16 earnings per share for the current fiscal year.

NetApp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Friday, July 10th will be issued 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 dividend payout ratio is presently 32.70%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings raised shares of NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 8th. JPMorgan Chase & Co. raised their target price on shares of NetApp from $110.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Wall Street Zen raised shares of NetApp from a “hold” rating to a “strong-buy” rating in a research note on Saturday. UBS Group reaffirmed a “neutral” rating and issued a $160.00 target price on shares of NetApp in a research note on Friday, May 29th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $200.00 target price on shares of NetApp in a research note on Tuesday, June 2nd. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, NetApp has a consensus rating of “Hold” and a consensus target price of $169.33.

Institutional Investors Weigh In On NetApp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of NetApp during the fourth quarter worth approximately $458,060,000. First Trust Advisors LP raised its stake in shares of NetApp by 127.0% during the first 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. SG Americas Securities LLC raised its stake in shares of NetApp by 378.9% during the first quarter. SG Americas Securities LLC now owns 1,329,475 shares of the data storage provider’s stock worth $136,125,000 after acquiring an additional 1,051,863 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of NetApp by 94.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,823,292 shares of the data storage provider’s stock worth $215,987,000 after acquiring an additional 886,485 shares in the last quarter. Finally, SEB Asset Management AB purchased a new position in shares of NetApp during the first quarter worth approximately $89,977,000. 92.17% of the stock is owned by hedge funds and other 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.