Key Points
- NetApp EVP Elizabeth O'Callahan sold 1,000 shares at an average price of $184.74, generating $184,740; she retained 30,737 shares valued at approximately $5.68 million.
- NetApp reported stronger-than-expected quarterly results, with adjusted EPS of $2.58 versus the $2.12 consensus and revenue of $2.02 billion, up 29.9% year over year.
- The company declared a quarterly dividend of $0.52 per share, equivalent to $2.08 annually and a 1.1% yield; analysts maintain a consensus “Hold” rating with an average price target of $193.86.
NetApp, Inc. (NASDAQ:NTAP - Get Free Report) EVP Elizabeth O'callahan sold 1,000 shares of the business's stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $184.74, for a total transaction of $184,740.00. Following the completion of the sale, the executive vice president directly owned 30,737 shares of the company's stock, valued at $5,678,353.38. The trade was a 3.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
NetApp Stock Performance
Shares of NetApp stock opened at $188.27 on Tuesday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.16 and a current ratio of 1.24. NetApp, Inc. has a 1 year low of $93.69 and a 1 year high of $209.06. The firm's 50-day simple moving average is $182.58 and its 200-day simple moving average is $144.82. The firm has a market cap of $36.98 billion, a PE ratio of 26.55, a price-to-earnings-growth ratio of 2.14 and a beta of 1.44.
NetApp (NASDAQ:NTAP - Get Free Report) last posted its quarterly earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.46. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.84 billion. NetApp had a return on equity of 119.13% and a net margin of 19.18%.The company's revenue for the quarter was up 29.9% compared to the same quarter last year. During the same period last year, the firm earned $1.15 earnings per share. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. Equities analysts forecast that NetApp, Inc. will post 8.32 earnings per share for the current fiscal year.
NetApp Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Friday, October 9th will be given a $0.52 dividend. The ex-dividend date is Friday, October 9th. This represents a $2.08 annualized dividend and a dividend yield of 1.1%. NetApp's dividend payout ratio (DPR) is presently 29.34%.
Hedge Funds Weigh In On NetApp
Several institutional investors have recently made changes to their positions in NTAP. Norges Bank bought a new position in NetApp during the 4th quarter worth $458,060,000. Jefferies Financial Group Inc. acquired a new stake in NetApp in the fourth quarter worth $14,869,000. Handelsbanken Fonder AB lifted its stake in NetApp by 106.8% in the fourth quarter. Handelsbanken Fonder AB now owns 262,732 shares of the data storage provider's stock valued at $28,136,000 after buying an additional 135,715 shares during the last quarter. National Pension Service lifted its stake in NetApp by 13.6% in the fourth quarter. National Pension Service now owns 180,917 shares of the data storage provider's stock valued at $19,374,000 after buying an additional 21,643 shares during the last quarter. Finally, Swedbank AB boosted its holdings in shares of NetApp by 22.0% during the fourth quarter. Swedbank AB now owns 97,086 shares of the data storage provider's stock valued at $10,397,000 after acquiring an additional 17,520 shares during the period. 92.17% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the company. Evercore set a $210.00 price target on NetApp in a research report on Monday, August 24th. Northland Securities lifted their price objective on shares of NetApp from $171.00 to $187.00 and gave the stock an "outperform" rating in a report on Thursday, September 3rd. Wells Fargo & Company boosted their target price on shares of NetApp from $180.00 to $190.00 and gave the company an "equal weight" rating in a research note on Thursday, September 3rd. Barclays increased their target price on shares of NetApp from $199.00 to $219.00 and gave the stock an "overweight" rating in a report on Thursday, September 3rd. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of NetApp in a research report on Friday, September 4th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $193.86.
Check Out Our Latest Stock Report on NTAP
NetApp Company Profile
(
Get Free Report)
NetApp, Inc (NASDAQ: NTAP) is a data infrastructure and cloud storage company that helps organizations manage, protect and access data across on-premises environments, private clouds and public clouds. Its offerings are designed to support enterprise workloads such as databases, business applications, artificial intelligence and virtualized computing.
The company's portfolio includes all-flash and hybrid storage systems, cloud storage services, data management software and infrastructure-as-a-service solutions.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
