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

Key Points

• NetApp Director Deepak Ahuja sold 3,450 shares at an average price of $200, generating $690,000 and reducing his stake by 21.21% to 12,814 shares. He also sold 3,526 shares the prior week.
• NetApp reported quarterly EPS of $2.58, beating estimates of $2.12, while revenue reached $2.02 billion, up 29.9% year over year and above expectations.
• The company declared a quarterly dividend of $0.52 per share, equivalent to a 1.1% yield. Analysts’ average rating is “Hold,” with an average price target of $193.86.

NetApp, Inc. (NASDAQ:NTAP - Get Free Report) Director Deepak Ahuja sold 3,450 shares of the stock in a transaction on Monday, September 21st. The shares were sold at an average price of $200.00, for a total value of $690,000.00. Following the sale, the director owned 12,814 shares in the company, valued at approximately $2,562,800. This trade represents a 21.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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 value of $684,185.04.

NetApp Price Performance

Shares of NASDAQ:NTAP traded up $3.42 on Wednesday, hitting $196.33. The company had a trading volume of 1,649,001 shares, compared to its average volume of 2,689,500. The company has a current ratio of 1.24, a quick ratio of 1.16 and a debt-to-equity ratio of 1.30. The company has a market cap of $38.56 billion, a PE ratio of 27.69, a PEG ratio of 2.13 and a beta of 1.44. NetApp, Inc. has a 52-week low of $93.69 and a 52-week high of $209.06. The business has a 50 day moving average of $185.72 and a 200 day moving average of $148.82.

NetApp (NASDAQ:NTAP - Get Free Report) last released its earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.46. NetApp had a net margin of 19.18% and a return on equity of 119.13%. The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the firm earned $1.15 EPS. The firm's quarterly revenue was up 29.9% on a year-over-year basis. 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 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Friday, October 9th will be paid a $0.52 dividend. 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 payout ratio is presently 29.34%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on NTAP shares. Barclays upped their target price on NetApp from $199.00 to $219.00 and gave the company an "overweight" rating in a research note on Thursday, September 3rd. Susquehanna upped their price objective on shares of NetApp from $185.00 to $195.00 and gave the company a "neutral" rating in a research note on Thursday, September 3rd. Argus set a $225.00 price objective on shares of NetApp in a report on Friday, September 11th. Evercore set a $210.00 target price on shares of NetApp in a research report on Monday, August 24th. Finally, Morgan Stanley boosted their target price 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 assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $193.86.

Institutional Trading of NetApp

A number of institutional investors have recently modified their holdings of NTAP. West Financial Advisors LLC purchased a new stake in NetApp during the second quarter valued at about $37,000. Roble Belko & Company Inc acquired a new stake in shares of NetApp during the first quarter valued at approximately $31,000. Bell Investment Advisors Inc purchased a new stake in shares of NetApp in the 2nd quarter valued at approximately $55,000. Compass Financial Management LLC acquired a new position in NetApp in the 2nd quarter worth approximately $70,000. Finally, Hilltop National Bank purchased a new position in shares of NetApp during the second quarter valued at $72,000. Hedge funds and other institutional investors 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.

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