NetApp, Inc. (NASDAQ:NTAP - Get Free Report) EVP Elizabeth M. O'callahan sold 528 shares of NetApp stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $92.58, for a total transaction of $48,882.24. Following the completion of the sale, the executive vice president now owns 12,900 shares in the company, valued at approximately $1,194,282. This trade represents a 3.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
NetApp Trading Down 1.2 %
NASDAQ:NTAP traded down $1.13 during trading hours on Tuesday, reaching $90.92. 2,549,243 shares of the stock were exchanged, compared to its average volume of 1,860,906. The business has a 50-day moving average of $116.94 and a two-hundred day moving average of $120.19. NetApp, Inc. has a twelve month low of $90.08 and a twelve month high of $135.45. The company has a market capitalization of $18.49 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 2.45 and a beta of 1.24. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39.
NetApp Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, April 4th. This represents a $2.08 annualized dividend and a dividend yield of 2.29%. NetApp's dividend payout ratio is presently 38.52%.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in NTAP. Resonant Capital Advisors LLC grew its stake in shares of NetApp by 1.8% in the fourth quarter. Resonant Capital Advisors LLC now owns 4,442 shares of the data storage provider's stock worth $516,000 after acquiring an additional 80 shares in the last quarter. Larson Financial Group LLC grew its stake in NetApp by 2.5% during the 4th quarter. Larson Financial Group LLC now owns 3,778 shares of the data storage provider's stock worth $438,000 after purchasing an additional 92 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in NetApp by 22.3% during the 4th quarter. Geneos Wealth Management Inc. now owns 549 shares of the data storage provider's stock worth $64,000 after purchasing an additional 100 shares during the period. Moors & Cabot Inc. raised its position in NetApp by 3.6% in the 4th quarter. Moors & Cabot Inc. now owns 2,906 shares of the data storage provider's stock valued at $337,000 after purchasing an additional 100 shares in the last quarter. Finally, Coppell Advisory Solutions LLC boosted its stake in shares of NetApp by 50.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 300 shares of the data storage provider's stock valued at $35,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 92.17% of the company's stock.
Analysts Set New Price Targets
Several research firms recently issued reports on NTAP. Morgan Stanley lifted their price objective on NetApp from $132.00 to $146.00 and gave the stock an "equal weight" rating in a report on Tuesday, December 17th. Northland Securities increased their price objective on shares of NetApp from $108.00 to $120.00 and gave the company a "market perform" rating in a report on Friday, November 22nd. JPMorgan Chase & Co. lowered their target price on NetApp from $160.00 to $153.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Oppenheimer began coverage on NetApp in a research report on Wednesday, November 13th. They issued a "market perform" rating for the company. Finally, Susquehanna downgraded NetApp from a "positive" rating to a "neutral" rating and reduced their price objective for the stock from $155.00 to $130.00 in a research report on Monday, February 10th. Twelve analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $129.07.
Get Our Latest Analysis on NetApp
About NetApp
(
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NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.
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