NetApp Inc. (NASDAQ:NTAP) EVP Henri P. Richard sold 2,525 shares of the company’s stock in a transaction that occurred on Tuesday, October 16th. The stock was sold at an average price of $76.99, for a total value of $194,399.75. Following the transaction, the executive vice president now directly owns 65,907 shares of the company’s stock, valued at $5,074,179.93. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

NASDAQ NTAP opened at $77.57 on Friday. NetApp Inc. has a one year low of $43.24 and a one year high of $88.08. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.06 and a quick ratio of 2.03. The firm has a market capitalization of $20.50 billion, a P/E ratio of 25.94, a PEG ratio of 1.43 and a beta of 1.28.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, August 15th. The data storage provider reported $1.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.24. NetApp had a return on equity of 41.75% and a net margin of 3.68%. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the company earned $0.62 EPS. The firm’s revenue was up 11.6% compared to the same quarter last year. On average, sell-side analysts forecast that NetApp Inc. will post 3.91 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 24th. Shareholders of record on Friday, October 5th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.06%. The ex-dividend date is Thursday, October 4th. NetApp’s payout ratio is currently 53.51%.

NTAP has been the subject of several research analyst reports. Citigroup upped their target price on NetApp from $70.00 to $83.00 and gave the stock a “neutral” rating in a research note on Monday, August 13th. DA Davidson upped their target price on NetApp from $90.00 to $93.00 and gave the stock a “buy” rating in a research note on Tuesday, August 14th. BMO Capital Markets upped their target price on NetApp from $75.00 to $90.00 and gave the stock an “in-line” rating in a research note on Thursday, August 16th. Maxim Group upped their target price on NetApp from $81.00 to $91.00 and gave the stock a “buy” rating in a research note on Thursday, August 16th. Finally, Royal Bank of Canada upped their target price on NetApp from $80.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Friday, August 10th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $81.38.

Large investors have recently modified their holdings of the business. Renaissance Technologies LLC grew its holdings in NetApp by 270.0% in the 2nd quarter. Renaissance Technologies LLC now owns 2,332,932 shares of the data storage provider’s stock valued at $183,205,000 after buying an additional 1,702,432 shares in the last quarter. Palo Capital Inc. purchased a new stake in NetApp in the 2nd quarter valued at $4,465,000. Mount Yale Investment Advisors LLC purchased a new stake in NetApp in the 1st quarter valued at $191,000. Berkshire Capital Holdings Inc. purchased a new stake in NetApp in the 2nd quarter valued at $7,588,000. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in NetApp by 11.8% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 878,166 shares of the data storage provider’s stock valued at $68,962,000 after buying an additional 92,890 shares in the last quarter. Institutional investors own 94.61% of the company’s stock.

About NetApp

NetApp, Inc provides software, systems, and services to manage and share date on-premises, and private and public clouds worldwide. It offers cloud data services, such as ONTAP cloud storage data management and NetApp cloud sync data synchronization services; NetApp SaaS backup for Microsoft Office 365; NetApp cloud backup solutions; OnCommand management software and management integration tools; and NetApp private storage for cloud.

Read More: Outstanding Shares and The Effect on Share Price

Insider Buying and Selling by Quarter for NetApp (NASDAQ:NTAP)

Receive News & Ratings for NetApp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetApp and related companies with MarketBeat.com's FREE daily email newsletter.