Key Points
- NetApp EVP Elizabeth O'callahan sold 1,000 shares on June 10 at an average price of $163.48, totaling $163,480. After the sale, she still held 32,297 shares, a 3% reduction in her position.
- NetApp recently reported mixed quarterly results, missing EPS estimates at $2.03 versus $2.27 expected, but beating revenue expectations with $1.95 billion in sales, up 12.5% year over year.
- The company declared a quarterly dividend of $0.52 per share, payable July 29, which implies an annualized dividend of $2.08 and a yield of about 1.3%.
NetApp, Inc. (NASDAQ:NTAP - Get Free Report) EVP Elizabeth O'callahan sold 1,000 shares of NetApp stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $163.48, for a total value of $163,480.00. Following the transaction, the executive vice president owned 32,297 shares in the company, valued at $5,279,913.56. This represents a 3.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
NetApp Stock Performance
Shares of NTAP stock opened at $161.61 on Friday. NetApp, Inc. has a 1-year low of $93.69 and a 1-year high of $192.83. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 1.84. The company has a market capitalization of $31.66 billion, a price-to-earnings ratio of 25.41, a P/E/G ratio of 2.93 and a beta of 1.45. The stock's fifty day simple moving average is $125.92 and its 200-day simple moving average is $112.27.
NetApp (NASDAQ:NTAP - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.87 billion. During the same quarter in the prior year, the firm posted $1.93 EPS. The business's quarterly revenue was up 12.5% compared to the same quarter last year. 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, sell-side analysts predict that NetApp, Inc. will post 7.16 earnings per share for the current fiscal year.
NetApp Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Friday, July 10th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, July 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.3%. NetApp's payout ratio is currently 32.70%.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on NTAP shares. Susquehanna lifted their price target on NetApp from $110.00 to $185.00 and gave the company a "neutral" rating in a report on Friday, May 29th. Wall Street Zen upgraded NetApp from a "hold" rating to a "strong-buy" rating in a report on Saturday. JPMorgan Chase & Co. lifted their price target on NetApp from $110.00 to $150.00 and gave the company a "neutral" rating in a report on Friday, May 29th. Citigroup lifted their price objective on NetApp from $114.00 to $150.00 and gave the company a "neutral" rating in a research report on Friday, May 29th. Finally, The Goldman Sachs Group reissued a "buy" rating and set a $200.00 price objective on shares of NetApp in a research report on Tuesday, June 2nd. Five investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, NetApp has an average rating of "Hold" and a consensus target price of $169.33.
Read Our Latest Stock Report on NetApp
Institutional Trading of NetApp
A number of institutional investors have recently bought and sold shares of NTAP. Abich Financial Wealth Management LLC acquired a new stake in NetApp during the third quarter valued at $27,000. Rossby Financial LCC boosted 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 valued at $27,000 after purchasing an additional 115 shares during the last quarter. Park Square Financial Group LLC boosted 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 valued at $29,000 after purchasing an additional 103 shares during the last quarter. Gen Wealth Partners Inc acquired a new stake in NetApp during the fourth quarter valued at $30,000. Finally, DV Equities LLC acquired a new stake in NetApp during the fourth quarter valued at $30,000. Institutional investors and hedge funds own 92.17% of the company's stock.
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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