Insider Selling: NetApp (NASDAQ:NTAP) EVP Sells $96,250.00 in Stock

NetApp, Inc. (NASDAQ:NTAP) EVP Elizabeth O’callahan sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $96.25, for a total value of $96,250.00. Following the completion of the sale, the executive vice president directly owned 19,382 shares in the company, valued at approximately $1,865,517.50. The trade was a 4.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

NetApp Price Performance

NTAP stock opened at $103.68 on Friday. NetApp, Inc. has a 1 year low of $80.64 and a 1 year high of $126.66. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.36 and a current ratio of 1.39. The stock’s 50 day moving average price is $101.02 and its 200 day moving average price is $107.42. The firm has a market cap of $20.46 billion, a P/E ratio of 17.34, a PEG ratio of 3.11 and a beta of 1.30.

NetApp (NASDAQ:NTAP) last posted its earnings results on Thursday, February 26th. The data storage provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.05. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.70 billion. NetApp had a return on equity of 118.11% and a net margin of 18.07%.NetApp’s revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $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, sell-side analysts expect that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Friday, April 3rd will be issued a $0.52 dividend. The ex-dividend date is Thursday, April 2nd. This represents a $2.08 annualized dividend and a yield of 2.0%. NetApp’s payout ratio is 34.78%.

Analysts Set New Price Targets

NTAP has been the subject of several analyst reports. JPMorgan Chase & Co. downgraded NetApp from an “overweight” rating to a “neutral” rating and cut their price target for the company from $125.00 to $110.00 in a report on Thursday. Weiss Ratings downgraded NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 13th. Citigroup boosted their price target on NetApp from $110.00 to $114.00 and gave the company a “neutral” rating in a report on Monday, March 2nd. Wall Street Zen upgraded NetApp from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Finally, The Goldman Sachs Group initiated coverage on NetApp in a report on Tuesday, January 13th. They set a “buy” rating and a $128.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, NetApp presently has an average rating of “Hold” and a consensus price target of $120.75.

Hedge Funds Weigh In On NetApp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Roble Belko & Company Inc bought a new position in shares of NetApp during the first quarter worth about $31,000. SG Americas Securities LLC lifted its position 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 purchasing an additional 1,051,863 shares during the last quarter. Diversified Trust Co lifted its position in shares of NetApp by 5.3% during the first quarter. Diversified Trust Co now owns 64,841 shares of the data storage provider’s stock worth $6,639,000 after purchasing an additional 3,284 shares during the last quarter. Hsbc Holdings PLC lifted its position in shares of NetApp by 30.6% during the fourth quarter. Hsbc Holdings PLC now owns 845,036 shares of the data storage provider’s stock worth $90,556,000 after purchasing an additional 197,922 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its stake in NetApp by 87.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 40,967 shares of the data storage provider’s stock worth $4,387,000 after acquiring an additional 19,113 shares during the period. 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.