NetApp, Inc. (NASDAQ:NTAP) EVP Sells $52,672.29 in Stock

NetApp, Inc. (NASDAQ:NTAP) EVP Elizabeth M. O’callahan sold 451 shares of NetApp stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $116.79, for a total transaction of $52,672.29. Following the transaction, the executive vice president now directly owns 12,005 shares in the company, valued at approximately $1,402,063.95. This represents a 3.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

NetApp Price Performance

NetApp stock opened at $119.98 on Friday. The firm has a market capitalization of $24.39 billion, a P/E ratio of 22.06, a PEG ratio of 2.76 and a beta of 1.23. NetApp, Inc. has a one year low of $83.80 and a one year high of $135.45. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. The business has a fifty day moving average price of $120.98 and a 200-day moving average price of $122.94.

NetApp (NASDAQ:NTAP) last issued its earnings results on Thursday, November 21st. The data storage provider reported $1.87 EPS for the quarter, topping the consensus estimate of $1.78 by $0.09. NetApp had a return on equity of 123.63% and a net margin of 17.78%. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter last year, the company earned $1.23 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. As a group, equities research analysts forecast that NetApp, Inc. will post 5.88 EPS for the current year.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Friday, January 3rd. NetApp’s dividend payout ratio (DPR) is presently 38.24%.

Institutional Trading of NetApp

Several institutional investors and hedge funds have recently bought and sold shares of the company. Hollencrest Capital Management purchased a new position in shares of NetApp during the 2nd quarter valued at $26,000. Northwest Investment Counselors LLC purchased a new position in NetApp during the third quarter worth about $27,000. Redwood Wealth Management Group LLC purchased a new position in NetApp during the second quarter worth about $32,000. True Wealth Design LLC increased its stake in NetApp by 2,833.3% in the 3rd quarter. True Wealth Design LLC now owns 352 shares of the data storage provider’s stock worth $43,000 after acquiring an additional 340 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in shares of NetApp during the 3rd quarter valued at about $44,000. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NTAP has been the subject of a number of research analyst reports. Wedbush reaffirmed a “neutral” rating and set a $120.00 price target on shares of NetApp in a research report on Friday, November 22nd. Bank of America lifted their target price on NetApp from $115.00 to $121.00 and gave the stock an “underperform” rating in a research note on Friday, November 22nd. Barclays boosted their price target on shares of NetApp from $119.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. TD Cowen raised their price objective on shares of NetApp from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Finally, Northland Securities boosted their target price on shares of NetApp from $108.00 to $120.00 and gave the company a “market perform” rating in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, NetApp has a consensus rating of “Hold” and a consensus price target of $139.20.

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.