NetApp (NASDAQ:NTAP) Director Sells $1,159,547.40 in Stock

NetApp, Inc. (NASDAQ:NTAP) Director Thomas Nevens sold 5,940 shares of the business’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $195.21, for a total value of $1,159,547.40. Following the completion of the sale, the director owned 7,747 shares of the company’s stock, valued at approximately $1,512,291.87. This represents a 43.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

NetApp Price Performance

NTAP stock opened at $191.49 on Thursday. The company has a market capitalization of $37.61 billion, a P/E ratio of 27.01, a PEG ratio of 2.04 and a beta of 1.44. NetApp, Inc. has a twelve month low of $93.69 and a twelve month high of $209.06. The business has a 50 day simple moving average of $183.59 and a 200-day simple moving average of $146.09. The company has a current ratio of 1.24, a quick ratio of 1.16 and a debt-to-equity ratio of 1.30.

NetApp (NASDAQ:NTAP) last announced its earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.46. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.84 billion. NetApp had a net margin of 19.18% and a return on equity of 119.13%. The company’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same period last year, the firm posted $1.15 earnings per share. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. As a group, equities analysts anticipate that NetApp, Inc. will post 8.32 EPS for the current year.

NetApp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Friday, October 9th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, October 9th. NetApp’s dividend payout ratio (DPR) is presently 29.34%.

Analysts Set New Price Targets

A number of brokerages have recently commented on NTAP. Wedbush upped their target price on shares of NetApp from $150.00 to $170.00 and gave the company a “neutral” rating in a report on Thursday, September 3rd. Northland Securities raised their price target on NetApp from $171.00 to $187.00 and gave the stock an “outperform” rating in a report on Thursday, September 3rd. TD Cowen restated a “buy” rating and issued a $200.00 price target on shares of NetApp in a research report on Thursday, September 3rd. Evercore set a $210.00 price objective on NetApp in a research note on Monday, August 24th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of NetApp in a research report on Friday, September 4th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $193.86.

Hedge Funds Weigh In On NetApp

A number of large investors have recently bought and sold shares of the company. Park Square Financial Group LLC boosted its holdings in shares of NetApp by 68.7% in the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock valued at $29,000 after acquiring an additional 103 shares in the last quarter. Roble Belko & Company Inc purchased a new stake in NetApp in the 1st quarter valued at approximately $31,000. Elyxium Wealth LLC purchased a new stake in NetApp in the 4th quarter valued at approximately $35,000. West Financial Advisors LLC acquired a new position in NetApp during the 2nd quarter worth approximately $37,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in NetApp during the 4th quarter worth approximately $51,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Key NetApp News

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: NetApp’s latest quarterly results showed substantial momentum: earnings per share of $2.58 exceeded the $2.12 consensus estimate, while revenue of approximately $2.02 billion surpassed expectations of $1.84 billion and increased nearly 30% year over year. The company also issued fiscal 2027 EPS guidance of $9.73 to $10.03.
• Positive Sentiment: An upbeat earnings-call outlook highlighted demand for AI-related infrastructure, cloud services and data management, reinforcing the investment case for NetApp’s growth.
• Positive Sentiment: NetApp announced a partnership with the Tampa Bay Buccaneers, expanding its NFL sponsorship presence and promoting its data, analytics and cloud capabilities. The deal is primarily a branding initiative but could improve visibility with enterprise customers. NetApp and Tampa Bay Buccaneers Partner to Enable Data-Driven Operational Excellence
• Positive Sentiment: Analyst sentiment remains constructive after the earnings report. Barclays raised its price target to $219 with an overweight rating, while Evercore set a $210 target. The broader consensus rating remains Hold, with an average target of $193.86.
• Positive Sentiment: The company declared a quarterly dividend of $0.52 per share, equivalent to $2.08 annually and a yield of about 1.1%, providing continued shareholder income.
• Neutral Sentiment: NetApp’s strong stock performance has lifted its valuation to roughly 27 times earnings. Shares remain above both their 50-day and 200-day moving averages, indicating strong momentum but also leaving less room for disappointment.
• Negative Sentiment: Several insiders sold shares, including CEO George Kurian, who sold 40,000 shares worth approximately $7.7 million, and Director Deepak Ahuja, who sold about $684,000. Additional executive and director sales were also reported. These transactions may create modest sentiment pressure, although the insiders retained significant holdings and the filings do not establish a bearish outlook.

NetApp Company Profile

NetApp, Inc (NASDAQ: NTAP) is a data infrastructure and cloud storage company that helps organizations manage, protect and access data across on-premises environments, private clouds and public clouds. Its offerings are designed to support enterprise workloads such as databases, business applications, artificial intelligence and virtualized computing.

The company’s portfolio includes all-flash and hybrid storage systems, cloud storage services, data management software and infrastructure-as-a-service solutions.