NetApp (NASDAQ:NTAP) President Sells 2,608 Shares

NetApp, Inc. (NASDAQ:NTAP) President Cesar Cernuda sold 2,608 shares of NetApp stock in a transaction on Monday, August 17th. The shares were sold at an average price of $204.48, for a total value of $533,283.84. Following the completion of the transaction, the president directly owned 46,530 shares of the company’s stock, valued at $9,514,454.40. This represents a 5.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Cesar Cernuda also recently made the following trade(s):

• On Tuesday, June 23rd, Cesar Cernuda sold 49,464 shares of NetApp stock. The stock was sold at an average price of $154.82, for a total value of $7,658,016.48.

NetApp Stock Performance

NTAP stock traded down $10.23 during mid-day trading on Wednesday, hitting $194.48. The company had a trading volume of 2,726,066 shares, compared to its average volume of 2,725,330. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.39 and a current ratio of 1.44. NetApp, Inc. has a 12 month low of $93.69 and a 12 month high of $209.06. The firm has a market cap of $38.16 billion, a PE ratio of 30.58, a price-to-earnings-growth ratio of 3.72 and a beta of 1.45. The stock’s fifty day moving average price is $171.00 and its two-hundred day moving average price is $133.13.

NetApp (NASDAQ:NTAP) last released 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). NetApp had a return on equity of 117.23% and a net margin of 18.43%.The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the prior year, the firm posted $1.93 EPS. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. 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, analysts forecast that NetApp, Inc. will post 7.3 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 29th. Investors of record on Friday, July 10th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.08 dividend on an annualized basis and a yield of 1.1%. NetApp’s dividend payout ratio is 32.70%.

Institutional Investors Weigh In On NetApp

Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in shares of NetApp during the 2nd quarter worth approximately $2,925,168,000. Primecap Management Co. CA bought a new position in NetApp in the 2nd quarter worth $1,395,423,000. Norges Bank bought a new position in shares of NetApp in the 4th quarter worth about $458,060,000. First Trust Advisors LP grew 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 purchasing an additional 2,046,912 shares during the last quarter. Finally, Legal & General Group Plc bought a new position in NetApp during the second quarter valued at approximately $258,093,000. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NTAP has been the subject of a number of recent research reports. Weiss Ratings upgraded shares of NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. JPMorgan Chase & Co. boosted their target price on shares of NetApp from $110.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Wedbush increased their price objective on shares of NetApp from $115.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Bank of America boosted their target price on NetApp from $125.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Finally, Northland Securities upped their price target on NetApp from $137.00 to $171.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Five investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, NetApp has a consensus rating of “Hold” and an average price target of $177.25.

NetApp Company Profile

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.