NetApp, Inc. (NASDAQ:NTAP) EVP Sells $106,840.00 in Stock

NetApp, Inc. (NASDAQ:NTAP - Get Free Report) EVP Elizabeth M. O'callahan sold 1,000 shares of the company's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $106.84, for a total transaction of $106,840.00. Following the completion of the transaction, the executive vice president owned 24,251 shares of the company's stock, valued at $2,590,976.84. This represents a 3.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

NetApp Price Performance

Shares of NASDAQ:NTAP traded down $0.60 during trading on Monday, hitting $104.67. 1,275,028 shares of the stock were exchanged, compared to its average volume of 2,126,963. The company has a market cap of $20.97 billion, a PE ratio of 18.43, a P/E/G ratio of 2.43 and a beta of 1.42. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 2.39. The company has a fifty day moving average price of $101.93 and a two-hundred day moving average price of $103.11. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $135.45.

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

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, July 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.99%. NetApp's dividend payout ratio is currently 36.62%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on NTAP shares. Wedbush restated a "neutral" rating and set a $110.00 price target on shares of NetApp in a research note on Friday, May 30th. JPMorgan Chase & Co. lowered their target price on shares of NetApp from $120.00 to $115.00 and set an "overweight" rating on the stock in a research report on Friday, May 30th. Morgan Stanley reaffirmed a "cautious" rating on shares of NetApp in a report on Tuesday, May 20th. UBS Group reduced their price objective on NetApp from $115.00 to $108.00 and set a "neutral" rating for the company in a research note on Friday, May 30th. Finally, Citigroup upped their price target on NetApp from $105.00 to $110.00 and gave the stock a "neutral" rating in a research note on Monday, June 2nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, NetApp presently has an average rating of "Hold" and a consensus price target of $117.79.

Institutional Investors Weigh In On NetApp

A number of large investors have recently bought and sold shares of the stock. Manchester Capital Management LLC lifted its holdings in shares of NetApp by 375.0% during the 1st quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider's stock worth $25,000 after acquiring an additional 225 shares during the period. 1248 Management LLC acquired a new position in NetApp during the first quarter worth approximately $25,000. Assetmark Inc. raised its stake in NetApp by 826.9% during the fourth quarter. Assetmark Inc. now owns 241 shares of the data storage provider's stock worth $28,000 after purchasing an additional 215 shares during the period. Olde Wealth Management LLC acquired a new position in shares of NetApp in the 1st quarter valued at $29,000. Finally, Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of NetApp by 54.9% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 350 shares of the data storage provider's stock valued at $31,000 after buying an additional 124 shares during the period. Institutional investors and hedge funds own 92.17% of the company's stock.

About NetApp

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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