NetApp (NASDAQ:NTAP) Director Sells 3,450 Shares

NetApp, Inc. (NASDAQ:NTAP) Director Deepak Ahuja sold 3,450 shares of the business’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $200.00, for a total transaction of $690,000.00. Following the transaction, the director directly owned 12,814 shares in the company, valued at $2,562,800. The trade was a 21.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Deepak Ahuja also recently made the following trade(s):

• On Monday, September 14th, Deepak Ahuja sold 3,526 shares of NetApp stock. The stock was sold at an average price of $194.04, for a total transaction of $684,185.04.

NetApp Stock Up 1.8%

Shares of NASDAQ:NTAP traded up $3.42 during trading on Wednesday, reaching $196.33. 1,649,001 shares of the company traded hands, compared to its average volume of 2,689,500. The firm has a fifty day simple moving average of $185.72 and a 200 day simple moving average of $148.82. The company has a quick ratio of 1.16, a current ratio of 1.24 and a debt-to-equity ratio of 1.30. NetApp, Inc. has a 1-year low of $93.69 and a 1-year high of $209.06. The firm has a market cap of $38.56 billion, a P/E ratio of 27.69, a price-to-earnings-growth ratio of 2.13 and a beta of 1.44.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 earnings per share 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 the consensus estimate of $1.84 billion. NetApp had a net margin of 19.18% and a return on equity of 119.13%. NetApp’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same period in the prior year, the business 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. Analysts anticipate that NetApp, Inc. will post 8.32 earnings per share for the current fiscal year.

NetApp Announces Dividend

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

Analyst Ratings Changes

NTAP has been the subject of several recent research reports. Wells Fargo & Company boosted their price target on NetApp from $180.00 to $190.00 and gave the company an “equal weight” rating in a research note on Thursday, September 3rd. JPMorgan Chase & Co. raised their price objective on shares of NetApp from $110.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Evercore set a $210.00 target price on shares of NetApp in a research note on Monday, August 24th. Argus set a $225.00 target price on shares of NetApp in a research report on Friday, September 11th. Finally, Morgan Stanley raised their price target on shares of NetApp from $173.00 to $191.00 and gave the company an “equal weight” rating in a report on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $193.86.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NTAP. BlackRock Inc. acquired a new stake in NetApp in the 2nd quarter worth approximately $2,925,168,000. Primecap Management Co. CA acquired a new position in NetApp during the second quarter valued at approximately $1,395,423,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of NetApp by 9.4% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,444,057 shares of the data storage provider’s stock valued at $687,762,000 after purchasing an additional 383,701 shares during the period. Norges Bank acquired a new stake in shares of NetApp in the fourth quarter worth $458,060,000. Finally, First Trust Advisors LP lifted its stake in shares of NetApp by 127.0% in the first quarter. First Trust Advisors LP now owns 3,658,066 shares of the data storage provider’s stock worth $374,549,000 after buying an additional 2,046,912 shares during the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

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.