Key Points
- NetApp CAO Lorenzo Daniel De sold 225 shares on June 1 at an average price of $171.09, worth about $38,495, and his direct stake fell 17.11% to 1,090 shares.
- NetApp reported better-than-expected revenue of $1.95 billion for the quarter, but earnings per share of $2.03 missed analyst estimates of $2.27. Revenue rose 12.5% year over year.
- The company announced a quarterly dividend of $0.52 per share, payable July 29, for an annualized yield of about 1.1%. Analysts currently rate the stock a consensus Hold with an average target price of $169.33.
NetApp, Inc. (NASDAQ:NTAP - Get Free Report) CAO Lorenzo Daniel De sold 225 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $171.09, for a total value of $38,495.25. Following the transaction, the chief accounting officer directly owned 1,090 shares of the company's stock, valued at approximately $186,488.10. This trade represents a 17.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Lorenzo Daniel De also recently made the following trade(s):
- On Monday, May 18th, Lorenzo Daniel De sold 275 shares of NetApp stock. The shares were sold at an average price of $120.00, for a total value of $33,000.00.
NetApp Stock Up 3.1%
NTAP stock opened at $181.08 on Thursday. NetApp, Inc. has a twelve month low of $93.69 and a twelve month high of $192.83. The company has a quick ratio of 1.39, a current ratio of 1.44 and a debt-to-equity ratio of 1.84. The firm has a market cap of $35.73 billion, a PE ratio of 28.47, a price-to-earnings-growth ratio of 3.22 and a beta of 1.45. The business has a 50 day moving average of $117.08 and a 200 day moving average of $109.36.
NetApp (NASDAQ:NTAP - Get Free Report) last posted its quarterly earnings data on Thursday, May 28th. The data storage provider reported $2.03 earnings per share for the quarter, missing analysts' consensus estimates of $2.27 by ($0.24). NetApp had a net margin of 18.43% and a return on equity of 117.23%. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period last year, the business earned $1.93 EPS. The firm's quarterly revenue was up 12.5% on a year-over-year basis. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. On average, research analysts forecast that NetApp, Inc. will post 7.14 EPS for the current fiscal year.
NetApp Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, July 10th. NetApp's dividend payout ratio (DPR) is currently 32.70%.
Institutional Trading of NetApp
Institutional investors have recently added to or reduced their stakes in the business. Caliber Wealth Management LLC KS increased its holdings in shares of NetApp by 5.0% in the 3rd quarter. Caliber Wealth Management LLC KS now owns 2,100 shares of the data storage provider's stock valued at $249,000 after acquiring an additional 100 shares during the period. Parallel Advisors LLC raised its position in shares of NetApp by 2.1% in the 4th quarter. Parallel Advisors LLC now owns 5,007 shares of the data storage provider's stock worth $536,000 after acquiring an additional 101 shares in the last quarter. Park Square Financial Group LLC lifted its stake in shares of NetApp by 68.7% during the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider's stock worth $29,000 after purchasing an additional 103 shares during the last quarter. Assetmark Inc. boosted its position in NetApp by 3.0% during the first quarter. Assetmark Inc. now owns 3,540 shares of the data storage provider's stock valued at $362,000 after purchasing an additional 104 shares in the last quarter. Finally, Transcend Capital Advisors LLC boosted its position in NetApp by 5.8% during the fourth quarter. Transcend Capital Advisors LLC now owns 1,953 shares of the data storage provider's stock valued at $209,000 after purchasing an additional 107 shares in the last quarter. 92.17% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages have commented on NTAP. The Goldman Sachs Group reiterated a "buy" rating and set a $200.00 target price on shares of NetApp in a research note on Tuesday. Citigroup increased their target price on NetApp from $114.00 to $150.00 and gave the company a "neutral" rating in a research note on Friday, May 29th. Susquehanna increased their target price on NetApp from $110.00 to $185.00 and gave the company a "neutral" rating in a research note on Friday, May 29th. Weiss Ratings downgraded NetApp from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, March 13th. Finally, Morgan Stanley increased their target price on NetApp from $88.00 to $137.00 and gave the company an "underweight" rating in a research note on Friday, May 29th. Four investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, NetApp has an average rating of "Hold" and an average target price of $169.33.
Read Our Latest Stock Report on NetApp
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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