Insider Selling: NetApp (NASDAQ:NTAP) EVP Sells 1,000 Shares of Stock

NetApp, Inc. (NASDAQ:NTAP) EVP Elizabeth O’callahan sold 1,000 shares of NetApp stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $100.67, for a total transaction of $100,670.00. Following the transaction, the executive vice president directly owned 20,382 shares in the company, valued at $2,051,855.94. This represents a 4.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

NetApp Price Performance

Shares of NASDAQ NTAP traded down $0.65 during midday trading on Thursday, reaching $96.93. The stock had a trading volume of 2,073,179 shares, compared to its average volume of 2,485,123. The company has a market capitalization of $19.13 billion, a price-to-earnings ratio of 16.21, a price-to-earnings-growth ratio of 3.00 and a beta of 1.39. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $126.66. The stock has a 50-day moving average of $101.55 and a 200-day moving average of $110.76. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.36 and a current ratio of 1.39.

NetApp (NASDAQ:NTAP) last issued its earnings results on Thursday, February 26th. The data storage provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.05. NetApp had a net margin of 18.07% and a return on equity of 118.11%. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the prior year, the firm posted $1.91 EPS. NetApp’s quarterly revenue was up 4.4% compared to the same quarter last year. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. As a group, research analysts anticipate that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Friday, April 3rd will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, April 2nd. This represents a $2.08 annualized dividend and a dividend yield of 2.1%. NetApp’s dividend payout ratio (DPR) is currently 34.78%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on NTAP shares. Oppenheimer reissued a “market perform” rating on shares of NetApp in a report on Wednesday, November 26th. Wedbush reiterated a “neutral” rating and set a $115.00 price objective on shares of NetApp in a research report on Wednesday, February 25th. The Goldman Sachs Group initiated coverage on shares of NetApp in a report on Tuesday, January 13th. They issued a “buy” rating and a $128.00 target price on the stock. Citigroup upped their target price on shares of NetApp from $110.00 to $114.00 and gave the stock a “neutral” rating in a research report on Monday, March 2nd. Finally, Barclays raised their target price on shares of NetApp from $125.00 to $134.00 and gave the company an “overweight” rating in a research note on Wednesday, November 26th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $122.42.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NTAP. Corient Private Wealth LLC raised its stake in NetApp by 4.3% during the fourth quarter. Corient Private Wealth LLC now owns 50,360 shares of the data storage provider’s stock valued at $5,393,000 after purchasing an additional 2,069 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of NetApp by 30.6% in the 4th quarter. Hsbc Holdings PLC now owns 845,036 shares of the data storage provider’s stock worth $90,556,000 after buying an additional 197,922 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of NetApp by 1,371.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,692 shares of the data storage provider’s stock worth $288,000 after buying an additional 2,509 shares during the last quarter. Tobam raised its position in shares of NetApp by 854.7% during the 4th quarter. Tobam now owns 8,926 shares of the data storage provider’s stock valued at $956,000 after buying an additional 7,991 shares in the last quarter. Finally, Kera Capital Partners Inc. raised its position in shares of NetApp by 10.0% during the 4th quarter. Kera Capital Partners Inc. now owns 2,813 shares of the data storage provider’s stock valued at $301,000 after buying an additional 255 shares in the last quarter. 92.17% of the stock is currently owned by 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.