NetApp, Inc. (NASDAQ:NTAP) EVP Elizabeth M. O’callahan Sells 452 Shares of Stock

NetApp, Inc. (NASDAQ:NTAP) EVP Elizabeth M. O’callahan sold 452 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $120.75, for a total transaction of $54,579.00. Following the sale, the executive vice president now owns 11,553 shares in the company, valued at approximately $1,395,024.75. This trade represents a 3.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

NetApp Price Performance

Shares of NASDAQ:NTAP opened at $117.90 on Thursday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91. The firm has a market cap of $23.97 billion, a price-to-earnings ratio of 21.67, a price-to-earnings-growth ratio of 2.94 and a beta of 1.23. The business has a 50-day simple moving average of $120.88 and a two-hundred day simple moving average of $121.98. NetApp, Inc. has a fifty-two week low of $83.80 and a fifty-two week high of $135.45.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Thursday, November 21st. The data storage provider reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.09. NetApp had a net margin of 17.78% and a return on equity of 123.63%. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the firm earned $1.23 earnings per share. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, analysts expect that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were paid a $0.52 dividend. The ex-dividend date was Friday, January 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.76%. NetApp’s dividend payout ratio (DPR) is currently 38.24%.

Institutional Trading of NetApp

Hedge funds have recently bought and sold shares of the company. Sanctuary Advisors LLC purchased a new stake in shares of NetApp during the 2nd quarter valued at about $566,000. CWM LLC grew its position in NetApp by 9.9% during the third quarter. CWM LLC now owns 10,718 shares of the data storage provider’s stock valued at $1,324,000 after buying an additional 965 shares during the period. Ritholtz Wealth Management increased its holdings in NetApp by 30.4% during the third quarter. Ritholtz Wealth Management now owns 6,200 shares of the data storage provider’s stock valued at $766,000 after buying an additional 1,444 shares during the last quarter. Exchange Traded Concepts LLC raised its position in NetApp by 4,225.0% in the third quarter. Exchange Traded Concepts LLC now owns 2,249 shares of the data storage provider’s stock worth $278,000 after acquiring an additional 2,197 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of NetApp during the 3rd quarter worth $75,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on NTAP shares. Citigroup lifted their price target on shares of NetApp from $130.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. TD Cowen lifted their target price on shares of NetApp from $145.00 to $160.00 and gave the company a “buy” rating in a report on Friday, November 22nd. StockNews.com cut NetApp from a “buy” rating to a “hold” rating in a research report on Tuesday. Bank of America raised their price objective on NetApp from $115.00 to $121.00 and gave the company an “underperform” rating in a research report on Friday, November 22nd. Finally, Wedbush reissued a “neutral” rating and issued a $120.00 target price on shares of NetApp in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $137.53.

NetApp Company Profile

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.