NetApp, Inc. (NASDAQ:NTAP - Get Free Report) CFO Michael J. Berry sold 15,000 shares of the company's stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $102.67, for a total value of $1,540,050.00. Following the sale, the chief financial officer now owns 144,909 shares of the company's stock, valued at $14,877,807.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
NetApp Trading Up 0.2 %
Shares of NASDAQ NTAP opened at $105.05 on Friday. The company has a market cap of $21.68 billion, a price-to-earnings ratio of 23.88, a price-to-earnings-growth ratio of 2.31 and a beta of 1.28. NetApp, Inc. has a 12-month low of $60.92 and a 12-month high of $112.48. The company has a current ratio of 1.15, a quick ratio of 1.11 and a debt-to-equity ratio of 2.00. The stock's 50 day simple moving average is $95.80 and its 200 day simple moving average is $86.37.
NetApp (NASDAQ:NTAP - Get Free Report) last announced its quarterly earnings results on Thursday, February 29th. The data storage provider reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.25. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.59 billion. NetApp had a return on equity of 109.49% and a net margin of 15.21%. The business's revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $1.02 EPS. Equities research analysts expect that NetApp, Inc. will post 5.16 EPS for the current year.
NetApp Dividend Announcement
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The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Friday, April 5th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.90%. The ex-dividend date is Thursday, April 4th. NetApp's dividend payout ratio is currently 45.45%.
Institutional Trading of NetApp
Large investors have recently added to or reduced their stakes in the business. ORG Partners LLC increased its position in NetApp by 14,650.0% in the 4th quarter. ORG Partners LLC now owns 295 shares of the data storage provider's stock valued at $26,000 after acquiring an additional 293 shares during the period. First Horizon Advisors Inc. increased its position in NetApp by 58.7% in the 4th quarter. First Horizon Advisors Inc. now owns 311 shares of the data storage provider's stock valued at $27,000 after acquiring an additional 115 shares during the period. UMB Bank n.a. increased its position in NetApp by 82.9% in the 4th quarter. UMB Bank n.a. now owns 331 shares of the data storage provider's stock valued at $29,000 after acquiring an additional 150 shares during the period. Larson Financial Group LLC acquired a new stake in NetApp in the 3rd quarter valued at approximately $27,000. Finally, Planned Solutions Inc. acquired a new position in shares of NetApp during the 4th quarter valued at $34,000. 92.17% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
NTAP has been the subject of a number of recent research reports. Citigroup increased their target price on NetApp from $90.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, March 5th. Raymond James reiterated a "market perform" rating on shares of NetApp in a research note on Tuesday, January 16th. Barclays increased their target price on NetApp from $80.00 to $100.00 and gave the company an "equal weight" rating in a research note on Friday, March 1st. Wedbush raised their price objective on NetApp from $85.00 to $100.00 and gave the company a "neutral" rating in a research note on Friday, March 1st. Finally, JPMorgan Chase & Co. raised their price objective on NetApp from $87.00 to $95.00 and gave the company an "underweight" rating in a research note on Friday, March 1st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $97.94.
Read Our Latest Stock Analysis on NTAP
NetApp Company Profile
(
Get Free Report)
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.
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