NetApp (NASDAQ:NTAP) CAO Lorenzo Daniel De Sells 225 Shares of Stock

NetApp, Inc. (NASDAQ:NTAP) CAO Lorenzo Daniel De sold 225 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $171.09, for a total value of $38,495.25. Following the completion of the transaction, the chief accounting officer owned 1,090 shares of the company’s stock, valued at $186,488.10. The trade was a 17.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Lorenzo Daniel De also recently made the following trade(s):

• On Monday, May 18th, Lorenzo Daniel De sold 275 shares of NetApp stock. The stock was sold at an average price of $120.00, for a total value of $33,000.00.

NetApp Price Performance

NTAP opened at $181.08 on Thursday. The stock has a 50-day moving average price of $117.08 and a 200-day moving average price of $109.36. NetApp, Inc. has a 12-month low of $93.69 and a 12-month high of $192.83. 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 stock has a market capitalization of $35.73 billion, a P/E ratio of 28.47, a PEG ratio of 3.22 and a beta of 1.45.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data 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 quarter in the previous year, the company posted $1.93 earnings per share. NetApp’s revenue for the quarter 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. Equities analysts predict that NetApp, Inc. will post 7.14 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The company also recently disclosed 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 1.1%. The ex-dividend date is Friday, July 10th. NetApp’s dividend payout ratio is presently 32.70%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. State Street Corp raised its position 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 raised its position 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 NetApp during the 4th quarter valued at approximately $458,060,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in NetApp by 17.4% during 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 valued at $442,018,000 after buying an additional 611,003 shares in the last quarter. Finally, First Trust Advisors LP increased its position in NetApp by 127.0% during the 1st quarter. First Trust Advisors LP now owns 3,658,066 shares of the data storage provider’s stock valued at $374,549,000 after buying an additional 2,046,912 shares in the last quarter. Institutional investors own 92.17% of the company’s stock.

Wall Street Analyst Weigh In

NTAP has been the subject of several analyst reports. Susquehanna increased their target price on NetApp from $110.00 to $185.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Barclays increased their target price on NetApp from $120.00 to $199.00 and gave the company an “overweight” rating in a report on Friday, May 29th. JPMorgan Chase & Co. increased their target price on NetApp from $110.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Northland Securities increased their target price on NetApp from $137.00 to $171.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Finally, Wall Street Zen lowered NetApp from a “buy” rating to a “hold” rating in a research report on Sunday, April 19th. Four analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average 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.