NetApp, Inc. (NASDAQ:NTAP) CAO Lorenzo Daniel De Sells 326 Shares of Stock

NetApp, Inc. (NASDAQ:NTAP) CAO Lorenzo Daniel De sold 326 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $117.44, for a total transaction of $38,285.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, September 24th, Lorenzo Daniel De sold 1,685 shares of NetApp stock. The stock was sold at an average price of $123.60, for a total transaction of $208,266.00.

NetApp Stock Performance

Shares of NTAP stock opened at $122.20 on Wednesday. The stock’s 50-day moving average is $121.41 and its two-hundred day moving average is $122.35. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.91 and a current ratio of 0.96. NetApp, Inc. has a 1 year low of $77.08 and a 1 year high of $135.01. The firm has a market cap of $25.02 billion, a price-to-earnings ratio of 23.87, a PEG ratio of 3.01 and a beta of 1.24.

NetApp (NASDAQ:NTAP) last announced its earnings results on Wednesday, August 28th. The data storage provider reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.11. NetApp had a net margin of 17.01% and a return on equity of 121.41%. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the previous year, the company posted $0.84 EPS. The company’s quarterly revenue was up 7.6% on a year-over-year basis. Analysts predict that NetApp, Inc. will post 5.71 earnings per share for the current year.

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Friday, October 4th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.08 dividend on an annualized basis and a yield of 1.70%. NetApp’s payout ratio is 40.63%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Loop Capital upgraded NetApp from a “hold” rating to a “buy” rating and boosted their price objective for the company from $121.00 to $150.00 in a research report on Tuesday, September 3rd. Citigroup boosted their price target on shares of NetApp from $120.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. increased their price objective on shares of NetApp from $146.00 to $147.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Susquehanna reissued a “positive” rating and set a $155.00 target price on shares of NetApp in a research note on Monday, August 26th. Finally, UBS Group upped their price target on shares of NetApp from $121.00 to $134.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $129.06.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Hollencrest Capital Management acquired a new stake in shares of NetApp during the second quarter worth $26,000. Northwest Investment Counselors LLC purchased a new position in NetApp during the 3rd quarter worth $27,000. New Covenant Trust Company N.A. acquired a new stake in shares of NetApp in the 1st quarter worth $28,000. Redwood Wealth Management Group LLC purchased a new stake in shares of NetApp in the second quarter valued at about $32,000. Finally, Crewe Advisors LLC acquired a new position in shares of NetApp during the first quarter worth about $35,000. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

NetApp Company Profile

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.