Key Points
- NetApp EVP Elizabeth O’Callahan sold 1,000 shares for $175,950 at an average price of $175.95, reducing her holdings by 3.29% to 29,423 shares.
- NetApp’s latest quarterly results beat expectations: EPS was $2.58 versus a $2.12 consensus, and revenue of $2.02 billion exceeded estimates of $1.84 billion. Revenue rose 29.9% year over year.
- Analysts give NetApp a consensus “Moderate Buy” rating, with an average price target of $205.24; 11 rate it Buy and 11 rate it Hold.
NetApp, Inc. (NASDAQ:NTAP - Get Free Report) EVP Elizabeth O'callahan sold 1,000 shares of the stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $175.95, for a total transaction of $175,950.00. Following the transaction, the executive vice president owned 29,423 shares of the company's stock, valued at $5,176,976.85. This represents a 3.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
NetApp Price Performance
NTAP opened at $186.08 on Friday. The company has a market capitalization of $36.55 billion, a price-to-earnings ratio of 26.25, a PEG ratio of 1.97 and a beta of 1.52. The company has a quick ratio of 1.16, a current ratio of 1.24 and a debt-to-equity ratio of 1.30. The firm has a 50-day moving average price of $203.90 and a 200-day moving average price of $153.57. NetApp, Inc. has a twelve month low of $93.69 and a twelve month high of $240.87.
NetApp (NASDAQ:NTAP - Get Free Report) last posted its quarterly earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.46. The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.84 billion. NetApp had a net margin of 19.18% and a return on equity of 119.13%. The company's quarterly revenue was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $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 expect that NetApp, Inc. will post 8.32 EPS for the current year.
NetApp Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 28th. Investors of record on Friday, October 9th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, October 9th. NetApp's payout ratio is currently 29.34%.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the company. Lifeworks Advisors LLC increased its position in NetApp by 5.4% during the 3rd quarter. Lifeworks Advisors LLC now owns 50,462 shares of the data storage provider's stock valued at $10,601,000 after purchasing an additional 2,575 shares during the period. N.F.U. MUTUAL UNIT MANAGERS Ltd bought a new stake in NetApp during the 3rd quarter valued at approximately $803,000. Meeder Advisory Services Inc. boosted its position in NetApp by 28.1% during the 3rd quarter. Meeder Advisory Services Inc. now owns 9,415 shares of the data storage provider's stock valued at $1,978,000 after acquiring an additional 2,063 shares in the last quarter. First Trust Advisors LP boosted its position in NetApp by 9.3% during the 3rd quarter. First Trust Advisors LP now owns 3,393,982 shares of the data storage provider's stock valued at $713,008,000 after acquiring an additional 288,989 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. lifted its stake in shares of NetApp by 0.8% in the 3rd quarter. Resona Asset Management Co. Ltd. now owns 60,164 shares of the data storage provider's stock valued at $12,628,000 after purchasing an additional 475 shares during the period. Institutional investors own 92.17% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. increased their target price on NetApp from $175.00 to $195.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 25th. Barclays lowered NetApp from an "overweight" rating to an "equal weight" rating and set a $219.00 price target for the company. in a report on Wednesday, October 14th. Citigroup reduced their price target on NetApp from $209.00 to $190.00 and set a "neutral" rating for the company in a research report on Thursday, September 3rd. Susquehanna boosted their price objective on NetApp from $185.00 to $195.00 and gave the company a "neutral" rating in a research note on Thursday, September 3rd. Finally, Evercore upgraded NetApp from an "in-line" rating to an "outperform" rating and set a $300.00 target price for the company in a research note on Wednesday, October 7th. Eleven analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $205.24.
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About NetApp
(
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NetApp, Inc. develops data storage and data management technologies for businesses and other organizations. Its offerings support workloads across on-premises infrastructure, public cloud environments and hybrid settings, with services for storing, managing, protecting and moving data. The company's portfolio includes its ONTAP data management software, all-flash and hybrid-flash storage systems, object storage, and cloud storage and data services. NetApp also provides tools to help customers manage data across different environments and offers infrastructure through its Keystone storage-as-a-service model.
Further Reading
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