Key Points
- NetApp EVP Elizabeth O’Callahan sold 1,000 shares at an average price of $193.82, generating $193,820 and reducing her ownership by 3.2% to 30,297 shares.
- NetApp shares opened at $202.05, near their 52-week high of $202.32. The company’s latest quarterly revenue rose 12.5% year over year to $1.95 billion, though adjusted EPS of $2.03 missed analyst expectations of $2.27.
- Analysts maintain a consensus “Hold” rating with an average price target of $172.33, while institutional investors own 92.17% of the stock. NetApp also pays a quarterly dividend of $0.52 per share, yielding about 1.0% annually.
NetApp, Inc. (NASDAQ:NTAP - Get Free Report) EVP Elizabeth O'callahan sold 1,000 shares of the firm's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $193.82, for a total transaction of $193,820.00. Following the sale, the executive vice president owned 30,297 shares in the company, valued at $5,872,164.54. The trade was a 3.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
NetApp Trading Up 1.8%
Shares of NetApp stock opened at $202.05 on Thursday. The company has a market capitalization of $39.65 billion, a P/E ratio of 31.77, a P/E/G ratio of 3.63 and a beta of 1.45. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.39 and a current ratio of 1.44. The company has a fifty day moving average of $168.20 and a 200 day moving average of $130.13. NetApp, Inc. has a fifty-two week low of $93.69 and a fifty-two week high of $202.32.
NetApp (NASDAQ:NTAP - Get Free Report) last posted its quarterly earnings results on Thursday, May 28th. The data storage provider reported $2.03 EPS 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 the consensus estimate of $1.87 billion. During the same period in the prior year, the business earned $1.93 earnings per share. NetApp's 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 anticipate that NetApp, Inc. will post 7.16 earnings per share for the current fiscal year.
NetApp Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Investors of record on Friday, July 10th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, July 10th. NetApp's dividend payout ratio (DPR) is 32.70%.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in NTAP. Connor Clark & Lunn Investment Management Ltd. purchased a new position in NetApp in the second quarter worth about $7,672,000. Meiji Yasuda Asset Management Co Ltd. bought a new stake in shares of NetApp in the 2nd quarter valued at approximately $847,000. Globeflex Capital L P purchased a new position in shares of NetApp in the 2nd quarter worth approximately $1,556,000. Bank of Nova Scotia bought a new position in shares of NetApp during the 2nd quarter valued at approximately $725,000. Finally, Hudson Portfolio Management LLC purchased a new stake in NetApp during the 2nd quarter valued at $363,000. Institutional investors own 92.17% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have weighed in on NTAP shares. Wells Fargo & Company upped their price target on NetApp from $115.00 to $180.00 and gave the stock an "equal weight" rating in a research note on Friday, May 29th. Bank of America boosted their target price on shares of NetApp from $125.00 to $150.00 and gave the stock a "neutral" rating in a report on Friday, May 29th. Susquehanna raised their target price on shares of NetApp from $110.00 to $185.00 and gave the company a "neutral" rating in a research note on Friday, May 29th. Argus lifted their price target on shares of NetApp from $130.00 to $200.00 and gave the company a "buy" rating in a report on Monday, June 1st. Finally, Wedbush lifted their price target on shares of NetApp from $115.00 to $150.00 and gave the company a "neutral" rating in a report on Friday, May 29th. Five equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $172.33.
Read Our Latest Stock Analysis on NTAP
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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