NetApp (NASDAQ:NTAP) CAO Lorenzo Daniel De Sells 779 Shares

Key Points

• NetApp's CAO, Lorenzo Daniel De, sold 779 shares at an average price of $121.87, totaling $94,936.73, as disclosed in a SEC filing.
• The company recently announced a quarterly dividend of $0.52, with an ex-dividend date set for October 3rd, representing an annual yield of 1.8%.
• NetApp's stock has shown volatility, with a 12-month low of $71.84 and a high of $135.45, while it currently has a market cap of $23.67 billion.

NetApp, Inc. (NASDAQ:NTAP - Get Free Report) CAO Lorenzo Daniel De sold 779 shares of the stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $121.87, for a total value of $94,936.73. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

NetApp Stock Performance

NetApp stock traded down $1.31 during trading hours on Monday, reaching $118.57. 1,607,561 shares of the company were exchanged, compared to its average volume of 2,075,891. NetApp, Inc. has a 12 month low of $71.84 and a 12 month high of $135.45. The company has a current ratio of 1.31, a quick ratio of 1.28 and a debt-to-equity ratio of 2.55. The stock has a 50-day moving average of $113.04 and a 200 day moving average of $101.90. The firm has a market cap of $23.67 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 2.60 and a beta of 1.46.

NetApp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, October 3rd. NetApp's dividend payout ratio (DPR) is 36.75%.

Institutional Trading of NetApp

Several hedge funds have recently modified their holdings of NTAP. Vanguard Group Inc. lifted its holdings in NetApp by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 27,728,118 shares of the data storage provider's stock worth $2,954,431,000 after buying an additional 686,188 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of NetApp by 16.8% during 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 acquiring an additional 1,024,626 shares during the period. Ameriprise Financial Inc. boosted its holdings in NetApp by 1.0% in the first quarter. Ameriprise Financial Inc. now owns 7,096,679 shares of the data storage provider's stock valued at $623,383,000 after acquiring an additional 72,223 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in NetApp by 18.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,546,548 shares of the data storage provider's stock worth $311,529,000 after purchasing an additional 560,218 shares during the period. Finally, Invesco Ltd. raised its holdings in NetApp by 12.3% during the 1st quarter. Invesco Ltd. now owns 3,507,590 shares of the data storage provider's stock worth $308,107,000 after purchasing an additional 384,362 shares during the last quarter. 92.17% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NTAP. Wedbush reaffirmed a "neutral" rating and issued a $150.00 price target on shares of NetApp in a research report on Thursday, August 28th. Morgan Stanley set a $117.00 price target on NetApp in a research report on Thursday, August 28th. UBS Group raised their price target on NetApp from $108.00 to $114.00 and gave the company a "neutral" rating in a research report on Thursday, August 28th. JPMorgan Chase & Co. lifted their target price on NetApp from $115.00 to $130.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Finally, Northland Securities lifted their target price on NetApp from $119.00 to $120.00 and gave the stock a "market perform" rating in a research report on Thursday, August 28th. Seven research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $124.07.

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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