Key Points
- CEO George Kurian sold 10,000 NetApp shares at an average price of $210.04, generating approximately $2.1 million and reducing his direct holdings by 4.58% to 208,537 shares. He also sold 140,000 shares in four transactions during September.
- NetApp reported quarterly EPS of $2.58, beating the $2.12 consensus estimate, while revenue of $2.02 billion exceeded expectations and rose 29.9% year over year.
- The company declared a quarterly dividend of $0.52 per share, equivalent to $2.08 annually and a 0.9% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $199.20.
NetApp, Inc. (NASDAQ:NTAP - Get Free Report) CEO George Kurian sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $210.04, for a total transaction of $2,100,400.00. Following the completion of the sale, the chief executive officer directly owned 208,537 shares of the company's stock, valued at $43,801,111.48. The trade was a 4.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.
George Kurian also recently made the following trade(s):
- On Tuesday, September 29th, George Kurian sold 50,000 shares of NetApp stock. The stock was sold at an average price of $209.95, for a total transaction of $10,497,500.00.
- On Thursday, September 24th, George Kurian sold 37,000 shares of NetApp stock. The stock was sold at an average price of $199.95, for a total transaction of $7,398,150.00.
- On Monday, September 21st, George Kurian sold 13,000 shares of NetApp stock. The shares were sold at an average price of $200.01, for a total transaction of $2,600,130.00.
- On Monday, September 14th, George Kurian sold 40,000 shares of NetApp stock. The shares were sold at an average price of $191.42, for a total transaction of $7,656,800.00.
NetApp Stock Performance
Shares of NetApp stock opened at $223.77 on Tuesday. The stock's fifty day simple moving average is $193.77 and its 200 day simple moving average is $155.76. The company has a current ratio of 1.24, a quick ratio of 1.16 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $43.95 billion, a PE ratio of 31.56, a PEG ratio of 2.43 and a beta of 1.46. NetApp, Inc. has a 12 month low of $93.69 and a 12 month high of $231.90.
NetApp (NASDAQ:NTAP - Get Free Report) last announced its quarterly earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.46. The company 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 in the prior year, the company 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. On average, research analysts predict that NetApp, Inc. will post 8.32 EPS for the current year.
NetApp Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Friday, October 9th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.9%. NetApp's payout ratio is presently 29.34%.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the business. Private Client Services LLC bought a new stake in NetApp during the 3rd quarter worth about $662,000. Versant Capital Management Inc grew its holdings in shares of NetApp by 46.1% in the 3rd quarter. Versant Capital Management Inc now owns 2,111 shares of the data storage provider's stock valued at $443,000 after acquiring an additional 666 shares in the last quarter. QRG Capital Management Inc. increased its position in shares of NetApp by 11.2% in the second quarter. QRG Capital Management Inc. now owns 12,480 shares of the data storage provider's stock valued at $1,931,000 after acquiring an additional 1,261 shares during the last quarter. Andra AP fonden increased its position in shares of NetApp by 168.2% in the second quarter. Andra AP fonden now owns 106,363 shares of the data storage provider's stock valued at $16,461,000 after acquiring an additional 66,711 shares during the last quarter. Finally, National Pension Service raised its holdings in NetApp by 145.1% during the second quarter. National Pension Service now owns 539,405 shares of the data storage provider's stock worth $83,478,000 after acquiring an additional 319,332 shares in the last quarter. Institutional investors own 92.17% of the company's stock.
Analyst Upgrades and Downgrades
NTAP has been the subject of several research reports. Barclays increased their price objective on shares of NetApp from $199.00 to $219.00 and gave the stock an "overweight" rating in a research report on Thursday, September 3rd. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of NetApp in a research note on Friday, September 4th. Bank of America lifted their price target on NetApp from $200.00 to $220.00 and gave the company a "neutral" rating in a research note on Wednesday, September 30th. Argus set a $225.00 price target on NetApp in a report on Friday, September 11th. Finally, TD Cowen reaffirmed a "buy" rating and set a $200.00 price objective on shares of NetApp in a research report on Thursday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $199.20.
Get Our Latest Analysis on NetApp
NetApp Company Profile
(
Get Free Report)
NetApp, Inc develops intelligent data infrastructure and data management solutions for enterprises, service providers, and government organizations. The company helps customers store, manage, protect, and access data across on-premises environments, private clouds, public clouds, and hybrid multicloud infrastructures.
Its portfolio includes enterprise storage systems, all-flash arrays, cloud-connected storage, object storage, and data management software. NetApp's offerings include the ONTAP data management operating system, AFF and ASA storage systems, StorageGRID object storage, and BlueXP, a platform designed to help customers manage data and storage resources across multiple environments.
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