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

Key Points

• NetApp EVP Elizabeth O'callahan sold 1,000 shares on June 10 at an average price of $163.48, totaling about $163,480. After the sale, she still held 32,297 shares, representing a 3% reduction in her stake.
• NetApp shares were trading higher, rising 0.7% to $161.61 in Friday trading. The stock has traded between a 52-week low of $93.69 and a high of $192.83.
• The company recently reported mixed quarterly results, missing EPS estimates but beating revenue expectations with $1.95 billion in sales, up 12.5% year over year. NetApp also announced a quarterly dividend of $0.52 per share, payable July 29.

NetApp, Inc. (NASDAQ:NTAP - Get Free Report) EVP Elizabeth O'callahan sold 1,000 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $163.48, for a total value of $163,480.00. Following the transaction, the executive vice president owned 32,297 shares of the company's stock, valued at approximately $5,279,913.56. This represents a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

NetApp Trading Up 0.7%

Shares of NASDAQ NTAP traded up $1.14 during mid-day trading on Friday, reaching $161.61. 1,774,599 shares of the company's stock were exchanged, compared to its average volume of 2,698,820. The company's 50-day moving average is $124.72 and its 200-day moving average is $111.92. NetApp, Inc. has a 52-week low of $93.69 and a 52-week high of $192.83. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.39 and a current ratio of 1.44. The firm has a market capitalization of $31.66 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 2.94 and a beta of 1.45.

NetApp (NASDAQ:NTAP - Get Free Report) last posted its earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.24). NetApp had a return on equity of 117.23% and a net margin of 18.43%.The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period in the previous year, the company posted $1.93 EPS. NetApp's revenue was up 12.5% on a year-over-year basis. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. Analysts expect that NetApp, Inc. will post 7.16 EPS for the current fiscal year.

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.08 dividend on an annualized basis and a yield of 1.3%. NetApp's dividend payout ratio (DPR) is currently 32.70%.

Hedge Funds Weigh In On NetApp

Several large investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC lifted its position in NetApp by 2.1% during the fourth quarter. Parallel Advisors LLC now owns 5,007 shares of the data storage provider's stock worth $536,000 after buying an additional 101 shares during the period. Park Square Financial Group LLC lifted its position in NetApp by 68.7% during the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider's stock worth $29,000 after buying an additional 103 shares during the period. Assetmark Inc. lifted its position in NetApp by 3.0% during the first quarter. Assetmark Inc. now owns 3,540 shares of the data storage provider's stock worth $362,000 after buying an additional 104 shares during the period. Transcend Capital Advisors LLC lifted its position in NetApp by 5.8% during the fourth quarter. Transcend Capital Advisors LLC now owns 1,953 shares of the data storage provider's stock worth $209,000 after buying an additional 107 shares during the period. Finally, Fifth Third Bancorp lifted its position in NetApp by 0.9% during the fourth quarter. Fifth Third Bancorp now owns 12,559 shares of the data storage provider's stock worth $1,345,000 after buying an additional 108 shares during the period. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NTAP. Wells Fargo & Company upped their price target on NetApp from $115.00 to $180.00 and gave the company an "equal weight" rating in a report on Friday, May 29th. Morgan Stanley boosted their target price on NetApp from $88.00 to $137.00 and gave the company an "underweight" rating in a report on Friday, May 29th. The Goldman Sachs Group reissued a "buy" rating and issued a $200.00 target price on shares of NetApp in a report on Tuesday, June 2nd. Argus lifted their price target on NetApp from $130.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, June 1st. Finally, JPMorgan Chase & Co. boosted their target price on NetApp from $110.00 to $150.00 and gave the stock a "neutral" rating in a research report on Friday, May 29th. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $169.33.

NetApp Company Profile

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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