Key Points
- NetApp EVP Elizabeth O'callahan sold 1,000 shares on July 10 at an average price of $170.92, totaling $170,920. After the sale, she still held 31,297 shares valued at about $5.35 million.
- NetApp shares were trading higher, opening at $174.55 and up 6.5% in the session. The stock has ranged from a 52-week low of $93.69 to a high of $192.83.
- The company recently reported mixed quarterly results and paid a dividend: EPS came in below estimates at $2.03, while revenue beat expectations at $1.95 billion. NetApp also announced a $0.52 quarterly dividend, yielding about 1.2% annually.
NetApp, Inc. (NASDAQ:NTAP - Get Free Report) EVP Elizabeth O'callahan sold 1,000 shares of the company's stock in a transaction on Friday, July 10th. The stock was sold at an average price of $170.92, for a total transaction of $170,920.00. Following the completion of the transaction, the executive vice president owned 31,297 shares of the company's stock, valued at $5,349,283.24. This trade represents a 3.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
NetApp Trading Up 6.5%
NASDAQ NTAP opened at $174.55 on Wednesday. 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 stock's 50-day simple moving average is $150.42 and its two-hundred day simple moving average is $119.52. NetApp, Inc. has a twelve month low of $93.69 and a twelve month high of $192.83. The company has a market capitalization of $34.20 billion, a price-to-earnings ratio of 27.44, a PEG ratio of 3.00 and a beta of 1.46.
NetApp (NASDAQ:NTAP - Get Free Report) last announced its quarterly earnings data on Thursday, May 28th. The data storage provider reported $2.03 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.24). The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.87 billion. NetApp had a net margin of 18.43% and a return on equity of 117.23%. NetApp's revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.93 earnings per share. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. Research analysts forecast that NetApp, Inc. will post 7.16 EPS for the current fiscal year.
NetApp Announces Dividend
The company 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 $0.52 dividend. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.08 annualized dividend and a yield of 1.2%. NetApp's dividend payout ratio is currently 32.70%.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on NTAP. Weiss Ratings upgraded shares of NetApp from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, June 8th. Citigroup lifted their target price on shares of NetApp from $114.00 to $150.00 and gave the stock a "neutral" rating in a research report on Friday, May 29th. Morgan Stanley upped their price target on shares of NetApp from $88.00 to $137.00 and gave the company an "underweight" rating in a research report on Friday, May 29th. Bank of America lifted their price objective on NetApp from $125.00 to $150.00 and gave the stock a "neutral" rating in a report on Friday, May 29th. Finally, Argus boosted their target price on NetApp from $130.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, June 1st. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, NetApp has a consensus rating of "Hold" and a consensus price target of $169.33.
Read Our Latest Analysis on NTAP
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the business. Geneos Wealth Management Inc. grew its position in shares of NetApp by 38.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider's stock worth $67,000 after buying an additional 210 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in NetApp in the second quarter worth $315,000. Cerity Partners LLC lifted its stake in NetApp by 9.9% in the second quarter. Cerity Partners LLC now owns 46,792 shares of the data storage provider's stock worth $4,986,000 after acquiring an additional 4,232 shares during the period. Bank of Nova Scotia boosted its holdings in NetApp by 7.3% in the second quarter. Bank of Nova Scotia now owns 24,301 shares of the data storage provider's stock valued at $2,589,000 after acquiring an additional 1,662 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in NetApp by 12.7% in the second quarter. NewEdge Advisors LLC now owns 20,161 shares of the data storage provider's stock valued at $2,148,000 after acquiring an additional 2,277 shares in 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.
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