Insider Selling: NetApp (NASDAQ:NTAP) EVP Sells 1,000 Shares of Stock

Key Points

• Elizabeth O'callahan, NetApp's EVP, sold 1,000 shares on April 10 at an average price of $96.25 for $96,250, reducing her stake by 4.91% to 19,382 shares, per an SEC filing.
• NetApp beat quarterly estimates, reporting $2.12 EPS vs. $2.07 and $1.71B revenue vs. $1.70B, and set guidance of Q4 2026 EPS 2.210–2.310 and FY 2026 EPS 7.920–8.020.
• The company announced a quarterly dividend of $0.52 per share (annualized $2.08, ~2.1% yield); the stock trades near $98.89 with a market cap around $19.5B and an average analyst rating of "Hold" (avg target $122.42).

NetApp, Inc. (NASDAQ:NTAP - Get Free Report) EVP Elizabeth O'callahan sold 1,000 shares of NetApp stock in a transaction on Friday, April 10th. The shares were sold at an average price of $96.25, for a total value of $96,250.00. Following the transaction, the executive vice president owned 19,382 shares of the company's stock, valued at $1,865,517.50. The trade was a 4.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

NetApp Stock Up 0.5%

NASDAQ:NTAP traded up $0.49 during trading hours on Tuesday, reaching $98.89. 2,098,775 shares of the company traded hands, compared to its average volume of 2,424,181. The business's 50-day moving average price is $100.88 and its two-hundred day moving average price is $107.64. The stock has a market capitalization of $19.51 billion, a P/E ratio of 16.54, a P/E/G ratio of 2.97 and a beta of 1.30. NetApp, Inc. has a 1 year low of $80.22 and a 1 year high of $126.66. The company has a current ratio of 1.39, a quick ratio of 1.36 and a debt-to-equity ratio of 2.15.

NetApp (NASDAQ:NTAP - Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The data storage provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.07 by $0.05. The business had revenue of $1.71 billion during the quarter, compared to analysts' expectations of $1.70 billion. NetApp had a return on equity of 118.11% and a net margin of 18.07%.The firm's quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.91 earnings per share. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. Analysts predict that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Friday, April 3rd will be paid a dividend of $0.52 per share. The ex-dividend date is Thursday, April 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 2.1%. NetApp's payout ratio is presently 34.78%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Hsbc Holdings PLC raised its stake in shares of NetApp by 30.6% in the fourth quarter. Hsbc Holdings PLC now owns 845,036 shares of the data storage provider's stock worth $90,556,000 after purchasing an additional 197,922 shares during the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of NetApp by 87.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 40,967 shares of the data storage provider's stock worth $4,387,000 after acquiring an additional 19,113 shares during the period. Corient Private Wealth LLC grew its holdings in shares of NetApp by 4.3% in the fourth quarter. Corient Private Wealth LLC now owns 50,360 shares of the data storage provider's stock worth $5,393,000 after acquiring an additional 2,069 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in shares of NetApp by 1,371.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,692 shares of the data storage provider's stock worth $288,000 after acquiring an additional 2,509 shares during the period. Finally, Tobam grew its holdings in shares of NetApp by 854.7% in the fourth quarter. Tobam now owns 8,926 shares of the data storage provider's stock worth $956,000 after acquiring an additional 7,991 shares during the period. Hedge funds and other institutional investors own 92.17% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on NTAP. The Goldman Sachs Group began coverage on NetApp in a research note on Tuesday, January 13th. They set a "buy" rating and a $128.00 target price on the stock. Wall Street Zen upgraded NetApp from a "hold" rating to a "buy" rating in a research note on Saturday. Wedbush restated a "neutral" rating and issued a $115.00 price target on shares of NetApp in a research note on Wednesday, February 25th. Weiss Ratings cut NetApp from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, March 13th. Finally, Citigroup boosted their price target on NetApp from $110.00 to $114.00 and gave the stock a "neutral" rating in a research note on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat, NetApp has an average rating of "Hold" and an average price target of $122.42.

About NetApp

NetApp, Inc NASDAQ: NTAP is a data management and storage company that delivers hybrid cloud data services for applications and data. Founded in 1992 as Network Appliance and rebranded as NetApp in 2008, the company is headquartered in Sunnyvale, California. NetApp's offering focuses on enabling organizations to store, manage, protect and move data across on-premises environments and major public clouds.

The company's product portfolio centers on the ONTAP data management software and a range of storage systems and services built around it.

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