NetApp (NASDAQ:NTAP) CAO Sells $33,000.00 in Stock

Key Points

• NetApp CAO Lorenzo Daniel De sold 275 shares at $120 each, totaling $33,000, and his direct holdings fell 20.15% to 1,090 shares.
• Shares of NTAP traded down 1.3% to $118.97, with the stock remaining near its 52-week high of $126.66 and supported by a market cap of about $23.48 billion.
• NetApp posted better-than-expected quarterly results with EPS of $2.12 on revenue of $1.71 billion, and it also paid a quarterly dividend of $0.52 per share, implying a 1.7% yield.

NetApp, Inc. (NASDAQ:NTAP - Get Free Report) CAO Lorenzo Daniel De sold 275 shares of the firm's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $120.00, for a total value of $33,000.00. Following the transaction, the chief accounting officer directly owned 1,090 shares of the company's stock, valued at approximately $130,800. This represents a 20.15% 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 Down 1.3%

NASDAQ:NTAP traded down $1.62 during trading hours on Wednesday, hitting $118.97. 1,828,248 shares of the company were exchanged, compared to its average volume of 2,355,972. The stock has a market capitalization of $23.48 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 3.42 and a beta of 1.28. The company has a current ratio of 1.39, a quick ratio of 1.36 and a debt-to-equity ratio of 2.15. NetApp, Inc. has a one year low of $93.69 and a one year high of $126.66. The company has a fifty day simple moving average of $105.97 and a 200 day simple moving average of $106.50.

NetApp (NASDAQ:NTAP - Get Free Report) last announced its earnings results on Thursday, February 26th. The data storage provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.05. The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.70 billion. NetApp had a return on equity of 118.11% and a net margin of 18.07%.NetApp's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the company earned $1.91 EPS. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. Sell-side analysts expect that NetApp, Inc. will post 6.48 EPS for the current fiscal year.

NetApp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 22nd. Investors of record on Friday, April 3rd were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Thursday, April 2nd. NetApp's dividend payout ratio (DPR) is currently 34.78%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NTAP. JPMorgan Chase & Co. lowered NetApp from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $125.00 to $110.00 in a research report on Thursday, April 16th. Wall Street Zen lowered NetApp from a "buy" rating to a "hold" rating in a research report on Sunday, April 19th. Weiss Ratings lowered NetApp from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, March 13th. Wedbush reissued a "neutral" rating and issued a $115.00 price objective on shares of NetApp in a research report on Wednesday, February 25th. Finally, Bank of America lifted their price objective on NetApp from $118.00 to $125.00 and gave the stock a "neutral" rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, NetApp currently has a consensus rating of "Hold" and a consensus target price of $122.27.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Caliber Wealth Management LLC KS grew its stake in shares of NetApp by 5.0% in the 3rd quarter. Caliber Wealth Management LLC KS now owns 2,100 shares of the data storage provider's stock valued at $249,000 after buying an additional 100 shares during the period. Parallel Advisors LLC grew its stake in shares of NetApp by 2.1% in the 4th quarter. Parallel Advisors LLC now owns 5,007 shares of the data storage provider's stock valued at $536,000 after buying an additional 101 shares during the period. Park Square Financial Group LLC grew its stake in shares of NetApp by 68.7% in the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider's stock valued at $29,000 after buying an additional 103 shares during the period. Assetmark Inc. grew its stake in shares of NetApp by 3.0% in the 1st quarter. Assetmark Inc. now owns 3,540 shares of the data storage provider's stock valued at $362,000 after buying an additional 104 shares during the period. Finally, Frank Rimerman Advisors LLC grew its stake in shares of NetApp by 2.0% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 5,526 shares of the data storage provider's stock valued at $655,000 after buying an additional 106 shares during the period. 92.17% of the stock is owned by institutional investors.

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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