NetApp (NASDAQ:NTAP) EVP Elizabeth O’callahan Sells 1,000 Shares of Company Stock

NetApp, Inc. (NASDAQ:NTAP) EVP Elizabeth O’callahan sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $175.95, for a total value of $175,950.00. Following the completion of the transaction, the executive vice president owned 29,423 shares in the company, valued at $5,176,976.85. This represents a 3.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

NetApp Stock Up 1.6%

Shares of NASDAQ:NTAP opened at $186.08 on Friday. The business’s 50 day moving average is $203.90 and its 200 day moving average is $153.57. NetApp, Inc. has a 12-month low of $93.69 and a 12-month high of $240.87. The stock has a market cap of $36.55 billion, a price-to-earnings ratio of 26.25, a PEG ratio of 1.97 and a beta of 1.52. The company has a quick ratio of 1.16, a current ratio of 1.24 and a debt-to-equity ratio of 1.30.

NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.46. NetApp had a return on equity of 119.13% and a net margin of 19.18%. The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the firm posted $1.15 EPS. NetApp’s quarterly revenue was up 29.9% compared to the same quarter last year. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. On average, sell-side analysts forecast that NetApp, Inc. will post 8.32 earnings per share for the current fiscal year.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 28th. Stockholders of record on Friday, October 9th were paid a $0.52 dividend. The ex-dividend date was Friday, October 9th. This represents a $2.08 annualized dividend and a dividend yield of 1.1%. NetApp’s dividend payout ratio is presently 29.34%.

Wall Street Analyst Weigh In

NTAP has been the topic of a number of recent analyst reports. Bank of America raised their price target on shares of NetApp from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Wednesday, September 30th. Daiwa Securities Group upped their price objective on shares of NetApp from $180.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 16th. UBS Group upped their price objective on shares of NetApp from $160.00 to $171.00 and gave the stock a “neutral” rating in a research report on Thursday, September 3rd. Argus set a $225.00 price objective on shares of NetApp and gave the company a “buy” rating in a research note on Friday, September 11th. Finally, Zacks Research cut shares of NetApp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Eleven analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $205.24.

Institutional Investors Weigh In On NetApp

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in NetApp in the second quarter worth $2,925,168,000. Primecap Management Co. CA purchased a new position in shares of NetApp during the 2nd quarter valued at $1,395,423,000. Aberdeen Group plc lifted its position in shares of NetApp by 1,069.3% during the 3rd quarter. Aberdeen Group plc now owns 2,738,944 shares of the data storage provider’s stock valued at $575,397,000 after buying an additional 2,504,699 shares during the last quarter. First Trust Advisors LP grew its stake in shares of 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 worth $374,549,000 after acquiring an additional 2,046,912 shares during the period. Finally, Legal & General Group Plc bought a new position in shares of NetApp during the 2nd quarter worth $258,093,000. Institutional investors own 92.17% of the company’s stock.

NetApp Company Profile

NetApp, Inc. develops data storage and data management technologies for businesses and other organizations. Its offerings support workloads across on-premises infrastructure, public cloud environments and hybrid settings, with services for storing, managing, protecting and moving data. The company’s portfolio includes its ONTAP data management software, all-flash and hybrid-flash storage systems, object storage, and cloud storage and data services. NetApp also provides tools to help customers manage data across different environments and offers infrastructure through its Keystone storage-as-a-service model.