Insider Selling: NetApp (NASDAQ:NTAP) EVP Sells $184,740.00 in Stock

Key Points

• NetApp EVP Elizabeth O’Callahan sold 1,000 shares at an average price of $184.74, generating $184,740. After the sale, she retained 30,737 shares valued at approximately $5.68 million.
• NetApp reported stronger-than-expected quarterly results, with EPS of $2.58 versus the $2.12 consensus estimate and revenue of $2.02 billion, up 29.9% year over year.
• The company declared a quarterly dividend of $0.52 per share, equal to a $2.08 annualized payout and a 1.1% yield. Analysts maintain a consensus “Hold” rating with an average price target of $193.86.

NetApp, Inc. (NASDAQ:NTAP - Get Free Report) EVP Elizabeth O'callahan sold 1,000 shares of the stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $184.74, for a total transaction of $184,740.00. Following the completion of the transaction, the executive vice president directly owned 30,737 shares in the company, valued at approximately $5,678,353.38. This represents a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

NetApp Stock Performance

Shares of NASDAQ:NTAP traded down $11.01 during trading on Monday, reaching $188.27. 2,008,890 shares of the stock were exchanged, compared to its average volume of 2,700,920. The stock has a 50-day moving average price of $182.09 and a 200-day moving average price of $144.20. The firm has a market cap of $36.98 billion, a PE ratio of 26.55, a PEG ratio of 2.14 and a beta of 1.44. NetApp, Inc. has a 12 month low of $93.69 and a 12 month high of $209.06. The company has a current ratio of 1.24, a quick ratio of 1.16 and a debt-to-equity ratio of 1.30.

NetApp (NASDAQ:NTAP - Get Free Report) last released its quarterly earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 EPS for the quarter, topping 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 business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period last year, the firm earned $1.15 earnings per share. NetApp's revenue for the quarter was up 29.9% compared to the same quarter last year. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. Research analysts expect that NetApp, Inc. will post 8.32 EPS for the current fiscal year.

NetApp Announces Dividend

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

Analyst Ratings Changes

NTAP has been the subject of several recent research reports. Morgan Stanley boosted their price target on NetApp from $173.00 to $191.00 and gave the company an "equal weight" rating in a research note on Thursday, September 3rd. Wedbush lifted their price objective on NetApp from $150.00 to $170.00 and gave the company a "neutral" rating in a report on Thursday, September 3rd. Barclays upped their target price on NetApp from $199.00 to $219.00 and gave the company an "overweight" rating in a research report on Thursday, September 3rd. Bank of America increased their target price on NetApp from $180.00 to $206.00 and gave the stock a "neutral" rating in a report on Monday, August 31st. Finally, Susquehanna raised their price target on NetApp from $185.00 to $195.00 and gave the stock a "neutral" rating in a research report on Thursday, September 3rd. One equities research 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's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $193.86.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NTAP. National Pension Service boosted its holdings in shares of NetApp by 145.1% in the 2nd quarter. National Pension Service now owns 539,405 shares of the data storage provider's stock valued at $83,478,000 after purchasing an additional 319,332 shares in the last quarter. WINTON GROUP Ltd increased its stake in shares of NetApp by 165.3% in the 2nd quarter. WINTON GROUP Ltd now owns 11,300 shares of the data storage provider's stock valued at $1,749,000 after purchasing an additional 7,041 shares during the last quarter. Engineers Gate Manager LP raised its holdings in shares of NetApp by 179.8% during the 2nd quarter. Engineers Gate Manager LP now owns 19,686 shares of the data storage provider's stock worth $3,047,000 after buying an additional 12,650 shares in the last quarter. Cidel Asset Management Inc. bought a new stake in shares of NetApp during the 2nd quarter worth $230,000. Finally, SVB Wealth LLC bought a new stake in shares of NetApp during the 2nd quarter worth $286,000. 92.17% of the stock is owned by institutional investors.

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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