Key Points
- NetApp President Cesar Cernuda sold 2,608 shares at an average price of $204.48, generating approximately $533,284. He retains 46,530 shares after reducing his stake by 5.31%.
- NetApp shares opened at $194.48, near their 12-month high of $209.06, while the company’s latest quarterly revenue rose 12.5% year over year to $1.95 billion, though adjusted EPS missed analysts’ estimates.
- Analysts maintain a consensus “Hold” rating with a $177.25 price target, despite strong institutional ownership of 92.17% and a recently announced annualized dividend of $2.08 per share.
NetApp, Inc. (NASDAQ:NTAP - Get Free Report) President Cesar Cernuda sold 2,608 shares of the business's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $204.48, for a total transaction of $533,283.84. Following the completion of the transaction, the president owned 46,530 shares of the company's stock, valued at approximately $9,514,454.40. The trade was a 5.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Cesar Cernuda also recently made the following trade(s):
- On Tuesday, June 23rd, Cesar Cernuda sold 49,464 shares of NetApp stock. The shares were sold at an average price of $154.82, for a total value of $7,658,016.48.
NetApp Stock Down 5.0%
NetApp stock opened at $194.48 on Thursday. NetApp, Inc. has a 12 month low of $93.69 and a 12 month high of $209.06. The stock has a fifty day simple moving average of $171.67 and a two-hundred day simple moving average of $133.81. 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 firm has a market cap of $38.16 billion, a price-to-earnings ratio of 30.58, a PEG ratio of 3.67 and a beta of 1.45.
NetApp (NASDAQ:NTAP - Get Free Report) last released 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 business had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.87 billion. NetApp had a net margin of 18.43% and a return on equity of 117.23%. The company's quarterly revenue was up 12.5% on a year-over-year basis. During the same period last year, the business earned $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. Equities analysts predict that NetApp, Inc. will post 7.3 EPS for the current fiscal year.
NetApp Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, July 10th. This represents a $2.08 dividend on an annualized basis and a yield of 1.1%. NetApp's payout ratio is currently 32.70%.
Institutional Investors Weigh In On NetApp
A number of institutional investors have recently bought and sold shares of NTAP. BlackRock Inc. bought a new position in shares of NetApp in the second quarter worth about $2,925,168,000. State Street Corp lifted its holdings in NetApp by 1.1% in the 4th quarter. State Street Corp now owns 10,192,354 shares of the data storage provider's stock worth $1,091,499,000 after purchasing an additional 115,451 shares in the last quarter. Primecap Management Co. CA bought a new position in NetApp in the 2nd quarter worth approximately $1,395,423,000. Wellington Management Group LLP boosted its stake in NetApp by 17.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,915,553 shares of the data storage provider's stock worth $582,296,000 after purchasing an additional 718,409 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of NetApp by 9.4% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,444,057 shares of the data storage provider's stock worth $687,762,000 after buying an additional 383,701 shares in the last quarter. Hedge funds and other institutional investors own 92.17% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently commented on NTAP shares. Wall Street Zen cut NetApp from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, July 29th. The Goldman Sachs Group restated a "buy" rating and set a $200.00 price target on shares of NetApp in a research note on Tuesday, June 2nd. JPMorgan Chase & Co. increased their price objective on shares of NetApp from $110.00 to $150.00 and gave the stock a "neutral" rating in a research note on Friday, May 29th. Wells Fargo & Company boosted their target price on shares of NetApp from $115.00 to $180.00 and gave the company an "equal weight" rating in a research report on Friday, May 29th. Finally, Northland Securities upped their price objective on NetApp from $137.00 to $171.00 and gave the stock an "outperform" rating in a research note on Friday, May 29th. Five analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, NetApp presently has a consensus rating of "Hold" and a consensus price target of $177.25.
Get Our Latest Stock Analysis 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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