NetApp, Inc. (NASDAQ:NTAP) EVP Elizabeth M. O'callahan Sells 452 Shares

NetApp, Inc. (NASDAQ:NTAP - Get Free Report) EVP Elizabeth M. O'callahan sold 452 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $120.75, for a total value of $54,579.00. Following the completion of the sale, the executive vice president now owns 11,553 shares in the company, valued at approximately $1,395,024.75. This represents a 3.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

NetApp Price Performance

Shares of NTAP traded up $1.33 during trading hours on Friday, hitting $119.06. 1,036,123 shares of the company were exchanged, compared to its average volume of 1,286,703. The company has a market capitalization of $24.21 billion, a PE ratio of 21.89, a PEG ratio of 2.94 and a beta of 1.23. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. The firm has a fifty day simple moving average of $120.19 and a 200-day simple moving average of $121.87. NetApp, Inc. has a one year low of $83.80 and a one year high of $135.45.

NetApp (NASDAQ:NTAP - Get Free Report) last posted its earnings results on Thursday, November 21st. The data storage provider reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.09. NetApp had a return on equity of 123.63% and a net margin of 17.78%. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the company earned $1.23 earnings per share. The business's revenue was up 6.1% compared to the same quarter last year. As a group, sell-side analysts predict that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.08 annualized dividend and a yield of 1.75%. NetApp's dividend payout ratio (DPR) is currently 38.24%.

Analysts Set New Price Targets

NTAP has been the topic of several analyst reports. Morgan Stanley raised their target price on NetApp from $132.00 to $146.00 and gave the company an "equal weight" rating in a research report on Tuesday, December 17th. TD Cowen raised their target price on NetApp from $145.00 to $160.00 and gave the company a "buy" rating in a research report on Friday, November 22nd. Wells Fargo & Company raised their target price on NetApp from $135.00 to $140.00 and gave the company an "equal weight" rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. upgraded NetApp from a "neutral" rating to an "overweight" rating and set a $160.00 price target on the stock in a research report on Monday, December 16th. Finally, Northland Securities lifted their price target on NetApp from $108.00 to $120.00 and gave the company a "market perform" rating in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, NetApp currently has a consensus rating of "Hold" and a consensus price target of $137.53.

Hedge Funds Weigh In On NetApp

Institutional investors have recently bought and sold shares of the stock. Migdal Insurance & Financial Holdings Ltd. bought a new position in NetApp during the fourth quarter valued at about $26,000. Northwest Investment Counselors LLC bought a new position in shares of NetApp in the third quarter worth about $27,000. Assetmark Inc. increased its stake in shares of NetApp by 826.9% in the fourth quarter. Assetmark Inc. now owns 241 shares of the data storage provider's stock worth $28,000 after purchasing an additional 215 shares during the period. Synergy Investment Management LLC bought a new position in shares of NetApp in the fourth quarter worth about $32,000. Finally, Itau Unibanco Holding S.A. increased its stake in shares of NetApp by 929.6% in the fourth quarter. Itau Unibanco Holding S.A. now owns 278 shares of the data storage provider's stock worth $32,000 after purchasing an additional 251 shares during the period. 92.17% of the stock is currently owned by institutional investors.

NetApp Company Profile

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.