NetApp, Inc. (NASDAQ:NTAP) EVP Sells $52,672.29 in Stock

NetApp, Inc. (NASDAQ:NTAP - Get Free Report) EVP Elizabeth M. O'callahan sold 451 shares of the company's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $116.79, for a total transaction of $52,672.29. Following the completion of the sale, the executive vice president now directly owns 12,005 shares of the company's stock, valued at $1,402,063.95. The trade was a 3.62 % 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 Up 1.5 %

Shares of NASDAQ:NTAP traded up $1.77 during trading on Tuesday, hitting $116.69. 1,889,875 shares of the company were exchanged, compared to its average volume of 1,361,947. NetApp, Inc. has a fifty-two week low of $83.80 and a fifty-two week high of $135.45. The stock has a market cap of $23.72 billion, a price-to-earnings ratio of 21.45, a P/E/G ratio of 2.92 and a beta of 1.23. The firm has a fifty day moving average price of $121.01 and a two-hundred day moving average price of $123.05. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39.

NetApp (NASDAQ:NTAP - Get Free Report) last posted its earnings results on Thursday, November 21st. The data storage provider reported $1.87 EPS for the quarter, beating the consensus estimate of $1.78 by $0.09. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.65 billion. NetApp had a return on equity of 123.63% and a net margin of 17.78%. The firm's revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.23 earnings per share. As a group, research analysts anticipate that NetApp, Inc. will post 5.83 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.78%. The ex-dividend date is Friday, January 3rd. NetApp's dividend payout ratio (DPR) is presently 38.24%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Morgan Stanley increased 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. Barclays boosted their price objective on shares of NetApp from $119.00 to $132.00 and gave the stock an "equal weight" rating in a report on Friday, November 22nd. Bank of America raised their price target on shares of NetApp from $115.00 to $121.00 and gave the stock an "underperform" rating in a research note on Friday, November 22nd. Stifel Nicolaus boosted their price target on shares of NetApp from $140.00 to $145.00 and gave the company a "buy" rating in a research report on Friday, November 22nd. Finally, TD Cowen raised their target price on NetApp from $145.00 to $160.00 and gave the company a "buy" rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $139.20.

Institutional Investors Weigh In On NetApp

Several hedge funds have recently added to or reduced their stakes in NTAP. Aviso Wealth Management lifted its position in shares of NetApp by 1.4% during the 2nd quarter. Aviso Wealth Management now owns 6,149 shares of the data storage provider's stock worth $792,000 after buying an additional 83 shares in the last quarter. Quarry LP increased its position in shares of NetApp by 11.7% during the second quarter. Quarry LP now owns 876 shares of the data storage provider's stock valued at $113,000 after buying an additional 92 shares during the period. Elo Mutual Pension Insurance Co lifted its stake in NetApp by 0.5% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 18,920 shares of the data storage provider's stock worth $2,437,000 after purchasing an additional 95 shares in the last quarter. OLD National Bancorp IN grew its position in NetApp by 3.5% during the third quarter. OLD National Bancorp IN now owns 3,492 shares of the data storage provider's stock worth $431,000 after buying an additional 118 shares in the last quarter. Finally, Ballentine Partners LLC increased its position in shares of NetApp by 4.5% in the third quarter. Ballentine Partners LLC now owns 2,756 shares of the data storage provider's stock worth $340,000 after purchasing an additional 118 shares during the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

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.

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