Key Points
- NetApp CAO Lorenzo Daniel De sold 275 shares on May 18 at $120.00 each, totaling about $33,000. After the sale, he still held 1,090 shares, a 20.15% reduction in his stake.
- The company recently reported better-than-expected quarterly results, with EPS of $2.12 versus $2.07 expected and revenue of $1.71 billion, up 4.4% year over year. NetApp also issued upbeat Q4 2026 and FY 2026 guidance.
- Despite solid fundamentals and a quarterly dividend of $0.52 per share (1.7% yield), Wall Street sentiment is cautious, with several recent analyst downgrades and a consensus rating of Hold.
NetApp, Inc. (NASDAQ:NTAP - Get Free Report) CAO Lorenzo Daniel De sold 275 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $120.00, for a total transaction of $33,000.00. Following the completion of the transaction, the chief accounting officer owned 1,090 shares of the company's stock, valued at approximately $130,800. The trade was a 20.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
NetApp Stock Performance
Shares of NTAP stock opened at $118.97 on Thursday. NetApp, Inc. has a one year low of $93.69 and a one year high of $126.66. The company's 50-day moving average is $106.34 and its 200 day moving average is $106.52. The company has a market capitalization of $23.48 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 3.39 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.
NetApp (NASDAQ:NTAP - Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The data storage provider reported $2.12 EPS for the quarter, beating the consensus estimate of $2.07 by $0.05. NetApp had a net margin of 18.07% and a return on equity of 118.11%. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the prior year, the firm posted $1.91 EPS. NetApp's revenue for the quarter 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. Sell-side analysts expect that NetApp, Inc. will post 6.48 EPS for the current fiscal year.
NetApp Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 22nd. Investors of record on Friday, April 3rd were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Thursday, April 2nd. NetApp's dividend payout ratio is 34.78%.
Wall Street Analysts Forecast Growth
Several analysts recently commented on NTAP shares. JPMorgan Chase & Co. downgraded shares of NetApp from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $125.00 to $110.00 in a research report on Thursday, April 16th. Citigroup downgraded shares of NetApp from a "neutral" rating to a "mixed" rating in a report on Thursday, May 14th. Weiss Ratings downgraded shares of NetApp from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, March 13th. Wall Street Zen downgraded shares of NetApp from a "buy" rating to a "hold" rating in a report on Sunday, April 19th. Finally, Wedbush reaffirmed a "neutral" rating and set a $115.00 price target on shares of NetApp in a report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $122.27.
Read Our Latest Stock Report on NTAP
Institutional Trading of NetApp
A number of institutional investors have recently made changes to their positions in NTAP. Royal Fund Management LLC boosted its holdings in shares of NetApp by 60.8% in the first quarter. Royal Fund Management LLC now owns 8,198 shares of the data storage provider's stock worth $839,000 after buying an additional 3,100 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of NetApp by 7.5% in the first quarter. Bank of America Corp DE now owns 1,956,339 shares of the data storage provider's stock worth $200,310,000 after buying an additional 136,769 shares during the last quarter. Edgestream Partners L.P. boosted its holdings in shares of NetApp by 203.1% in the first quarter. Edgestream Partners L.P. now owns 44,831 shares of the data storage provider's stock worth $4,590,000 after buying an additional 30,038 shares during the last quarter. Kentucky Retirement Systems boosted its holdings in shares of NetApp by 124.3% in the first quarter. Kentucky Retirement Systems now owns 28,138 shares of the data storage provider's stock worth $2,881,000 after buying an additional 15,594 shares during the last quarter. Finally, Oddo BHF Asset Management Sas boosted its holdings in shares of NetApp by 34.6% in the first quarter. Oddo BHF Asset Management Sas now owns 73,038 shares of the data storage provider's stock worth $7,478,000 after buying an additional 18,755 shares during the last quarter. Hedge funds and other institutional investors own 92.17% of the company's stock.
NetApp Company Profile
(
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
