Insider Selling: NetApp (NASDAQ:NTAP) EVP Sells $170,920.00 in Stock

NetApp, Inc. (NASDAQ:NTAP) EVP Elizabeth O’callahan sold 1,000 shares of the company’s stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $170.92, for a total transaction of $170,920.00. Following the completion of the sale, the executive vice president directly owned 31,297 shares of the company’s stock, valued at $5,349,283.24. The trade was a 3.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

NetApp Stock Performance

Shares of NTAP opened at $159.69 on Friday. The firm has a market capitalization of $31.29 billion, a PE ratio of 25.11, a P/E/G ratio of 2.96 and a beta of 1.46. The company has a quick ratio of 1.39, a current ratio of 1.44 and a debt-to-equity ratio of 1.84. The firm has a 50-day moving average price of $152.36 and a 200 day moving average price of $120.23. NetApp, Inc. has a 52-week low of $93.69 and a 52-week high of $192.83.

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

NetApp Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NTAP. Park Square Financial Group LLC boosted its stake in shares of NetApp by 68.7% during the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock worth $29,000 after acquiring an additional 103 shares in the last quarter. Gen Wealth Partners Inc acquired a new position in shares of NetApp in the 4th quarter worth $30,000. DV Equities LLC acquired a new stake in shares of NetApp during the fourth quarter worth $30,000. Roble Belko & Company Inc acquired a new stake in shares of NetApp during the first quarter worth $31,000. Finally, JFS Wealth Advisors LLC lifted its holdings in shares of NetApp by 176.3% during the fourth quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider’s stock valued at $34,000 after purchasing an additional 201 shares during the last quarter. Institutional investors own 92.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NTAP. Barclays increased their price target on NetApp from $120.00 to $199.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. Citigroup upped their price objective on NetApp from $114.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Weiss Ratings raised NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Northland Securities lifted their target price on NetApp from $137.00 to $171.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Finally, Wedbush boosted their price target on shares of NetApp from $115.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Five analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $169.33.

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.