NetApp (NASDAQ:NTAP) EVP Elizabeth O’callahan Sells 1,000 Shares of Stock

NetApp, Inc. (NASDAQ:NTAP) EVP Elizabeth O’callahan sold 1,000 shares of NetApp stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $163.48, for a total value of $163,480.00. Following the sale, the executive vice president directly owned 32,297 shares in the company, valued at $5,279,913.56. The trade was a 3.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

NetApp Stock Up 0.7%

Shares of NetApp stock opened at $161.61 on Friday. NetApp, Inc. has a 1-year low of $93.69 and a 1-year high of $192.83. The company has a market capitalization of $31.66 billion, a P/E ratio of 25.41, a PEG ratio of 2.93 and a beta of 1.45. The business’s fifty day moving average price is $125.92 and its two-hundred day moving average price is $112.27. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.44 and a quick ratio of 1.39.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.24). NetApp had a net margin of 18.43% and a return on equity of 117.23%. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter last year, the business posted $1.93 earnings per share. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. As a group, research analysts forecast that NetApp, Inc. will post 7.16 EPS for the current year.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Friday, July 10th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, July 10th. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. NetApp’s dividend payout ratio (DPR) is 32.70%.

Analyst Ratings Changes

NTAP has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their price target on NetApp from $110.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Morgan Stanley lifted their price target on NetApp from $88.00 to $137.00 and gave the company an “underweight” rating in a research report on Friday, May 29th. Bank of America lifted their price target on NetApp from $125.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Weiss Ratings upgraded NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Finally, Susquehanna lifted their price target on NetApp from $110.00 to $185.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Five equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $169.33.

Hedge Funds Weigh In On NetApp

A number of hedge funds have recently modified their holdings of the stock. State Street Corp grew its holdings in shares of NetApp by 1.1% in the 4th quarter. State Street Corp now owns 10,192,354 shares of the data storage provider’s stock worth $1,091,499,000 after acquiring an additional 115,451 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of NetApp by 17.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,915,553 shares of the data storage provider’s stock worth $582,296,000 after acquiring an additional 718,409 shares during the last quarter. Norges Bank acquired a new position in shares of NetApp in the 4th quarter worth $458,060,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of NetApp by 17.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,127,533 shares of the data storage provider’s stock worth $442,018,000 after acquiring an additional 611,003 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of NetApp by 127.0% in the 1st quarter. First Trust Advisors LP now owns 3,658,066 shares of the data storage provider’s stock worth $374,549,000 after acquiring an additional 2,046,912 shares during the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

NetApp Company Profile

NetApp, Inc (NASDAQ: NTAP) is a data management and storage company that delivers hybrid cloud data services for applications and data. Founded in 1992 as Network Appliance and rebranded as NetApp in 2008, the company is headquartered in Sunnyvale, California. NetApp’s offering focuses on enabling organizations to store, manage, protect and move data across on-premises environments and major public clouds.

The company’s product portfolio centers on the ONTAP data management software and a range of storage systems and services built around it.