NetApp, Inc. (NASDAQ:NTAP) EVP Sells $54,579.00 in Stock

NetApp, Inc. (NASDAQ:NTAP) EVP Elizabeth M. O’callahan sold 452 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $120.75, for a total value of $54,579.00. Following the completion of the transaction, the executive vice president now directly owns 11,553 shares in the company, valued at approximately $1,395,024.75. This represents a 3.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

NetApp Price Performance

NetApp stock traded down $1.66 during mid-day trading on Wednesday, reaching $117.90. The company had a trading volume of 1,594,994 shares, compared to its average volume of 1,347,141. The business has a fifty day simple moving average of $120.88 and a 200 day simple moving average of $121.98. The company has a market cap of $23.97 billion, a P/E ratio of 21.67, a P/E/G ratio of 2.94 and a beta of 1.23. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. NetApp, Inc. has a fifty-two week low of $83.80 and a fifty-two week high of $135.45.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Thursday, November 21st. The data storage provider reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.09. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. NetApp had a return on equity of 123.63% and a net margin of 17.78%. NetApp’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.23 EPS. On average, equities research analysts predict that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.76%. NetApp’s dividend payout ratio (DPR) is presently 38.24%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. StockNews.com cut shares of NetApp from a “buy” rating to a “hold” rating in a research report on Tuesday. Bank of America increased their target price on shares of NetApp from $115.00 to $121.00 and gave the stock an “underperform” rating in a research report on Friday, November 22nd. Barclays lifted their price target on shares of NetApp from $119.00 to $132.00 and gave the company an “equal weight” rating in a research report on Friday, November 22nd. Wells Fargo & Company boosted their price target on NetApp from $135.00 to $140.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. upgraded NetApp from a “neutral” rating to an “overweight” rating and set a $160.00 price objective on the stock in a research note on Monday, December 16th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, NetApp has an average rating of “Hold” and a consensus target price of $137.53.

Institutional Investors Weigh In On NetApp

Several hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC bought a new stake in shares of NetApp in the 2nd quarter valued at about $566,000. CWM LLC boosted its holdings in NetApp by 9.9% in the third quarter. CWM LLC now owns 10,718 shares of the data storage provider’s stock valued at $1,324,000 after acquiring an additional 965 shares during the last quarter. Ritholtz Wealth Management increased its position in NetApp by 30.4% during the 3rd quarter. Ritholtz Wealth Management now owns 6,200 shares of the data storage provider’s stock valued at $766,000 after purchasing an additional 1,444 shares during the period. Exchange Traded Concepts LLC increased its position in NetApp by 4,225.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 2,249 shares of the data storage provider’s stock valued at $278,000 after purchasing an additional 2,197 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in NetApp during the 3rd quarter worth approximately $75,000. 92.17% of the stock is currently owned by institutional investors and hedge funds.

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.