NetApp, Inc. (NTAP) EVP Sells $83,011.76 in Stock
NetApp, Inc. (NASDAQ:NTAP) EVP Henri P. Richard sold 1,976 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $42.01, for a total transaction of $83,011.76. Following the completion of the transaction, the executive vice president now owns 17,812 shares of the company’s stock, valued at $748,282.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Henri P. Richard also recently made the following trade(s):
- On Friday, July 14th, Henri P. Richard sold 3,952 shares of NetApp stock. The stock was sold at an average price of $42.20, for a total transaction of $166,774.40.
NetApp, Inc. (NTAP) traded up 0.38% during midday trading on Thursday, reaching $41.86. 2,697,799 shares of the company’s stock were exchanged. The company has a market cap of $11.29 billion, a P/E ratio of 20.21 and a beta of 1.22. The company has a 50 day moving average price of $40.34 and a 200 day moving average price of $40.60. NetApp, Inc. has a 12 month low of $30.36 and a 12 month high of $45.24.
NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Wednesday, August 16th. The data storage provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.07. NetApp had a return on equity of 24.13% and a net margin of 10.47%. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the prior year, the business earned $0.46 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, equities analysts anticipate that NetApp, Inc. will post $3.12 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Friday, October 6th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Thursday, October 5th. NetApp’s dividend payout ratio (DPR) is presently 38.65%.
Several brokerages have commented on NTAP. UBS AG upgraded shares of NetApp from a “sell” rating to a “neutral” rating and set a $40.00 target price for the company in a report on Friday, May 26th. BidaskClub cut shares of NetApp from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Credit Suisse Group raised their target price on shares of NetApp from $37.00 to $40.00 and gave the stock a “neutral” rating in a report on Wednesday, August 9th. Citigroup Inc. raised their target price on shares of NetApp from $41.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, August 17th. Finally, Susquehanna Bancshares Inc reiterated a “positive” rating and issued a $50.00 target price (up from $48.00) on shares of NetApp in a report on Wednesday, August 16th. Three research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $43.89.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. CAPROCK Group Inc. raised its stake in NetApp by 0.8% in the 2nd quarter. CAPROCK Group Inc. now owns 5,278 shares of the data storage provider’s stock valued at $211,000 after acquiring an additional 44 shares during the period. Contravisory Investment Management Inc. raised its stake in NetApp by 0.6% in the 2nd quarter. Contravisory Investment Management Inc. now owns 7,059 shares of the data storage provider’s stock valued at $283,000 after acquiring an additional 45 shares during the period. Neuberger Berman Group LLC increased its position in NetApp by 0.7% during the 2nd quarter. Neuberger Berman Group LLC now owns 8,201 shares of the data storage provider’s stock worth $328,000 after buying an additional 58 shares during the period. Breton Hill Capital Ltd. increased its position in NetApp by 0.3% during the 2nd quarter. Breton Hill Capital Ltd. now owns 17,290 shares of the data storage provider’s stock worth $692,000 after buying an additional 59 shares during the period. Finally, Louisiana State Employees Retirement System increased its position in NetApp by 0.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 16,800 shares of the data storage provider’s stock worth $673,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.
NetApp Company Profile
NetApp, Inc (NetApp) provides software, systems and services to manage and store customer data. The Company enables enterprises, service providers, governmental organizations, and partners to envision, deploy and evolve their information technology (IT) environments. The Company offers a portfolio of products and services that satisfy a range of customer workloads across different data types and deployment models.
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