Key Points
- NetApp EVP Elizabeth O'callahan sold 1,000 shares on Monday, May 11th at an average price of $117.73, for total proceeds of $117,730. After the sale, she still held 18,382 shares.
- The transaction trimmed her ownership by 5.16%, and it was disclosed in an SEC filing.
- NetApp recently reported better-than-expected quarterly results, with EPS of $2.12 versus estimates of $2.07 and revenue of $1.71 billion slightly ahead of expectations. The company also pays a quarterly dividend of $0.52 per share, yielding about 1.8%.
NetApp, Inc. (NASDAQ:NTAP - Get Free Report) EVP Elizabeth O'callahan sold 1,000 shares of the business's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $117.73, for a total value of $117,730.00. Following the completion of the sale, the executive vice president owned 18,382 shares in the company, valued at approximately $2,164,112.86. This trade represents a 5.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
NetApp Stock Performance
NTAP opened at $118.58 on Thursday. NetApp, Inc. has a 52-week low of $93.69 and a 52-week high of $126.66. The firm has a market capitalization of $23.40 billion, a PE ratio of 19.83, a PEG ratio of 3.29 and a beta of 1.28. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.36 and a current ratio of 1.39. The business's 50-day simple moving average is $104.38 and its 200 day simple moving average is $106.38.
NetApp (NASDAQ:NTAP - Get Free Report) last released its earnings results on Thursday, February 26th. The data storage provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.05. NetApp had a return on equity of 118.11% and a net margin of 18.07%.The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the prior year, the company posted $1.91 earnings per share. NetApp's revenue was up 4.4% on a year-over-year basis. 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, sell-side analysts expect that NetApp, Inc. will post 6.48 earnings per share for the current fiscal year.
NetApp Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, April 22nd. Investors of record on Friday, April 3rd were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.8%. The ex-dividend date was Thursday, April 2nd. NetApp's dividend payout ratio is presently 34.78%.
Hedge Funds Weigh In On NetApp
Institutional investors and hedge funds have recently made changes to their positions in the company. Abich Financial Wealth Management LLC acquired a new position in shares of NetApp in the third quarter valued at approximately $27,000. Rossby Financial LCC grew its position in NetApp by 105.5% during the third quarter. Rossby Financial LCC now owns 224 shares of the data storage provider's stock worth $27,000 after buying an additional 115 shares in the last quarter. Park Square Financial Group LLC grew its position in NetApp by 68.7% during the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider's stock worth $29,000 after buying an additional 103 shares in the last quarter. Gen Wealth Partners Inc acquired a new stake in NetApp during the fourth quarter worth approximately $30,000. Finally, DV Equities LLC bought a new stake in NetApp during the fourth quarter worth $30,000. Institutional investors and hedge funds own 92.17% of the company's stock.
Analyst Ratings Changes
Several analysts recently issued reports on the company. Wall Street Zen lowered NetApp from a "buy" rating to a "hold" rating in a report on Sunday, April 19th. Weiss Ratings lowered NetApp from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, March 13th. Citigroup upped their price objective on NetApp from $110.00 to $114.00 and gave the company a "neutral" rating in a research note on Monday, March 2nd. Wedbush restated a "neutral" rating and issued a $115.00 price objective on shares of NetApp in a research note on Wednesday, February 25th. Finally, JPMorgan Chase & Co. lowered NetApp from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $125.00 to $110.00 in a research note on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $122.64.
Check Out Our Latest Report on NTAP
About NetApp
(
Get Free Report)
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.
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