Insider Selling: NetApp (NASDAQ:NTAP) EVP Sells $170,920.00 in Stock

Key Points

• NetApp EVP Elizabeth O'callahan sold 1,000 shares on July 10 at an average price of $170.92, totaling $170,920. After the sale, she still held 31,297 shares valued at about $5.35 million.
• NetApp shares were up 6.5% in Tuesday trading, closing at $174.55 amid above-average volume, with the stock near the top of its 52-week range.
• The company recently beat revenue expectations but missed EPS estimates in its latest quarterly report, while also declaring a $0.52 quarterly dividend and maintaining a 1.2% annualized yield.

NetApp, Inc. (NASDAQ:NTAP - Get Free Report) EVP Elizabeth O'callahan sold 1,000 shares of the firm's stock in a transaction on Friday, July 10th. The stock was sold at an average price of $170.92, for a total value of $170,920.00. Following the transaction, the executive vice president directly owned 31,297 shares of the company's stock, valued at approximately $5,349,283.24. This represents a 3.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

NetApp Trading Up 6.5%

Shares of NASDAQ NTAP traded up $10.62 during trading on Tuesday, reaching $174.55. The company had a trading volume of 3,025,451 shares, compared to its average volume of 2,783,020. The stock has a market cap of $34.20 billion, a P/E ratio of 27.44, a PEG ratio of 3.09 and a beta of 1.46. The company's fifty day moving average price is $149.21 and its 200-day moving average price is $119.06. The company has a quick ratio of 1.39, a current ratio of 1.44 and a debt-to-equity ratio of 1.84. NetApp, Inc. has a 12 month low of $93.69 and a 12 month high of $192.83.

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

NetApp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Friday, July 10th will be given a $0.52 dividend. The ex-dividend date is Friday, July 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. NetApp's payout ratio is 32.70%.

Analyst Ratings Changes

Several research firms have recently weighed in on NTAP. Wedbush increased their price objective on shares of NetApp from $115.00 to $150.00 and gave the stock a "neutral" rating in a research report on Friday, May 29th. Susquehanna increased their price target on NetApp from $110.00 to $185.00 and gave the stock a "neutral" rating in a report on Friday, May 29th. Bank of America lifted their price objective on NetApp from $125.00 to $150.00 and gave the stock a "neutral" rating in a research report on Friday, May 29th. Citigroup upped their target price on NetApp from $114.00 to $150.00 and gave the company a "neutral" rating in a research report on Friday, May 29th. Finally, Northland Securities raised their target price on NetApp from $137.00 to $171.00 and gave the stock an "outperform" rating in a research note on Friday, May 29th. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, NetApp has a consensus rating of "Hold" and an average target price of $169.33.

Institutional Investors Weigh In On NetApp

Large investors have recently bought and sold shares of the stock. Park Square Financial Group LLC boosted its position in shares of NetApp by 68.7% during the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider's stock worth $29,000 after purchasing an additional 103 shares in the last quarter. Gen Wealth Partners Inc bought a new stake in NetApp in the 4th quarter valued at about $30,000. DV Equities LLC acquired a new position in NetApp during the 4th quarter worth approximately $30,000. Roble Belko & Company Inc acquired a new position in NetApp during the 1st quarter worth approximately $31,000. Finally, JFS Wealth Advisors LLC raised its stake in NetApp by 176.3% during the 4th quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider's stock worth $34,000 after buying an additional 201 shares during the period. 92.17% of the stock is currently owned by institutional investors and hedge funds.

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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