NetApp, Inc. (NASDAQ:NTAP - Get Free Report) EVP Elizabeth M. O'callahan sold 871 shares of the firm's stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $103.02, for a total transaction of $89,730.42. Following the completion of the sale, the executive vice president now directly owns 9,601 shares in the company, valued at $989,095.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
NetApp Stock Performance
NTAP stock opened at $101.81 on Friday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.11 and a current ratio of 1.15. The stock has a market capitalization of $21.01 billion, a price-to-earnings ratio of 23.14, a PEG ratio of 2.31 and a beta of 1.28. NetApp, Inc. has a 1 year low of $60.92 and a 1 year high of $112.48. The stock's fifty day moving average is $97.73 and its two-hundred day moving average is $87.55.
NetApp (NASDAQ:NTAP - Get Free Report) last issued its quarterly earnings data on Thursday, February 29th. The data storage provider reported $1.94 earnings per share for the quarter, beating analysts' consensus estimates of $1.69 by $0.25. NetApp had a net margin of 15.21% and a return on equity of 109.49%. The business had revenue of $1.61 billion for the quarter, compared to analysts' expectations of $1.59 billion. During the same period in the previous year, the business earned $1.02 earnings per share. The company's revenue was up 5.2% on a year-over-year basis. On average, research analysts predict that NetApp, Inc. will post 5.16 EPS for the current year.
NetApp Announces Dividend
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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Friday, April 5th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Thursday, April 4th. NetApp's dividend payout ratio is currently 45.45%.
Institutional Investors Weigh In On NetApp
Hedge funds and other institutional investors have recently modified their holdings of the stock. Nordea Investment Management AB grew its holdings in NetApp by 26.1% during the fourth quarter. Nordea Investment Management AB now owns 317,073 shares of the data storage provider's stock worth $27,855,000 after acquiring an additional 65,644 shares during the period. Vest Financial LLC increased its stake in NetApp by 24.1% in the 4th quarter. Vest Financial LLC now owns 147,518 shares of the data storage provider's stock worth $13,005,000 after purchasing an additional 28,609 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its stake in NetApp by 2.2% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 86,556 shares of the data storage provider's stock worth $6,568,000 after purchasing an additional 1,875 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in NetApp in the 3rd quarter worth about $1,171,000. Finally, Jump Financial LLC purchased a new position in NetApp during the 3rd quarter valued at about $817,000. 92.17% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several research firms have recently issued reports on NTAP. TD Cowen increased their price objective on shares of NetApp from $100.00 to $120.00 and gave the stock an "outperform" rating in a research report on Friday, March 1st. JPMorgan Chase & Co. increased their price target on NetApp from $87.00 to $95.00 and gave the company an "underweight" rating in a report on Friday, March 1st. UBS Group boosted their price objective on NetApp from $93.00 to $96.00 and gave the stock a "neutral" rating in a research note on Friday, March 1st. Wedbush increased their target price on NetApp from $85.00 to $100.00 and gave the company a "neutral" rating in a research note on Friday, March 1st. Finally, Stifel Nicolaus reiterated a "buy" rating and set a $120.00 target price (up from $105.00) on shares of NetApp in a report on Friday, March 1st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $97.94.
View Our Latest Stock Analysis on NetApp
About NetApp
(
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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