NetApp, Inc. (NASDAQ:NTAP) EVP Sells $105,900.00 in Stock

Key Points

• Elizabeth M. O'callahan, EVP of NetApp, sold 1,000 shares at $105.90 each, totaling $105,900, reducing her stake by 4.12% to 23,251 shares.
• NetApp's stock price increased by 1.8%, reaching $107.78, with a market cap of $21.60 billion and a P/E ratio of 18.98.
• The company declared a quarterly dividend of $0.52 per share, with an annualized yield of 1.9% and a dividend payout ratio of 36.62%.

NetApp, Inc. (NASDAQ:NTAP - Get Free Report) EVP Elizabeth M. O'callahan sold 1,000 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $105.90, for a total transaction of $105,900.00. Following the transaction, the executive vice president directly owned 23,251 shares of the company's stock, valued at $2,462,280.90. The trade was a 4.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

NetApp Stock Up 1.8%

Shares of NetApp stock traded up $1.90 during trading on Tuesday, hitting $107.78. 1,558,253 shares of the stock were exchanged, compared to its average volume of 2,038,304. The stock has a market cap of $21.60 billion, a price-to-earnings ratio of 18.98, a price-to-earnings-growth ratio of 2.44 and a beta of 1.44. The firm's 50-day moving average price is $104.82 and its 200 day moving average price is $101.01. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $135.45. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.25 and a quick ratio of 1.22.

NetApp (NASDAQ:NTAP - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The data storage provider reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.03. The business had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.72 billion. NetApp had a net margin of 18.05% and a return on equity of 126.96%. The company's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.80 EPS. As a group, analysts forecast that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.9%. The ex-dividend date was Thursday, July 3rd. NetApp's dividend payout ratio (DPR) is currently 36.62%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NTAP. Citigroup increased their price objective on shares of NetApp from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Monday. Morgan Stanley reaffirmed a "cautious" rating on shares of NetApp in a research report on Tuesday, May 20th. Barclays increased their price objective on shares of NetApp from $115.00 to $117.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. Evercore ISI lowered their price objective on shares of NetApp from $120.00 to $100.00 and set an "in-line" rating for the company in a research report on Monday, April 28th. Finally, UBS Group decreased their price target on shares of NetApp from $115.00 to $108.00 and set a "neutral" rating for the company in a research report on Friday, May 30th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, NetApp has an average rating of "Hold" and an average target price of $119.21.

Institutional Investors Weigh In On NetApp

Several hedge funds and other institutional investors have recently bought and sold shares of NTAP. Boston Partners increased its stake in NetApp by 108.9% in the second quarter. Boston Partners now owns 2,947,200 shares of the data storage provider's stock valued at $313,997,000 after purchasing an additional 1,536,339 shares during the period. Pacer Advisors Inc. increased its stake in NetApp by 4,687.6% in the first quarter. Pacer Advisors Inc. now owns 1,068,694 shares of the data storage provider's stock valued at $93,874,000 after purchasing an additional 1,046,372 shares during the period. Geode Capital Management LLC increased its stake in NetApp by 16.8% in the second quarter. Geode Capital Management LLC now owns 7,112,316 shares of the data storage provider's stock valued at $756,665,000 after purchasing an additional 1,024,626 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its stake in NetApp by 1,230.3% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,007,591 shares of the data storage provider's stock valued at $107,359,000 after purchasing an additional 931,850 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in NetApp by 14.5% in the fourth quarter. Ameriprise Financial Inc. now owns 7,024,456 shares of the data storage provider's stock valued at $815,402,000 after purchasing an additional 888,671 shares during the period. 92.17% of the stock is currently owned by institutional investors and hedge funds.

NetApp Company Profile

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.

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