NetApp (NASDAQ:NTAP) EVP Elizabeth O'callahan Sells 1,000 Shares of Stock

Key Points

• NetApp EVP Elizabeth O’Callahan sold 1,000 shares at an average price of $193.82, reducing her holdings by 3.2% to 30,297 shares valued at approximately $5.87 million.
• NetApp shares rose 1.8% to $202.05, near their 12-month high, while the company reported quarterly revenue of $1.95 billion—above expectations—but EPS of $2.03 fell short of consensus.
• The company maintains a quarterly dividend of $0.52 per share, equivalent to a 1.0% yield, while analysts’ consensus rating is “Hold” with an average price target of $172.33.

NetApp, Inc. (NASDAQ:NTAP - Get Free Report) EVP Elizabeth O'callahan sold 1,000 shares of NetApp stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $193.82, for a total transaction of $193,820.00. Following the completion of the sale, the executive vice president owned 30,297 shares of the company's stock, valued at $5,872,164.54. This trade represents a 3.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

NetApp Trading Up 1.8%

NASDAQ NTAP traded up $3.58 on Wednesday, reaching $202.05. The stock had a trading volume of 1,582,888 shares, compared to its average volume of 2,729,282. The company has a quick ratio of 1.39, a current ratio of 1.44 and a debt-to-equity ratio of 1.84. The stock has a fifty day moving average price of $168.20 and a two-hundred day moving average price of $130.13. NetApp, Inc. has a 12-month low of $93.69 and a 12-month high of $202.32. The firm has a market capitalization of $39.65 billion, a price-to-earnings ratio of 31.77, a P/E/G ratio of 3.63 and a beta of 1.45.

NetApp (NASDAQ:NTAP - Get Free Report) last released its quarterly earnings results on Thursday, May 28th. The data storage provider reported $2.03 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.24). The firm had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.87 billion. NetApp had a return on equity of 117.23% and a net margin of 18.43%.The company's quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior 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, sell-side analysts forecast that NetApp, Inc. will post 7.16 EPS for the current fiscal year.

NetApp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 29th. Stockholders of record on Friday, July 10th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. NetApp's dividend payout ratio (DPR) is presently 32.70%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NTAP. Northland Securities upped their target price on shares of NetApp from $137.00 to $171.00 and gave the stock an "outperform" rating in a research note on Friday, May 29th. The Goldman Sachs Group reissued a "buy" rating and issued a $200.00 price target on shares of NetApp in a research report on Tuesday, June 2nd. Wedbush upped their price objective on NetApp from $115.00 to $150.00 and gave the stock a "neutral" rating in a research report on Friday, May 29th. Wells Fargo & Company increased their price objective on NetApp from $115.00 to $180.00 and gave the company an "equal weight" rating in a research note on Friday, May 29th. Finally, UBS Group reiterated a "neutral" rating and issued a $160.00 target price on shares of NetApp in a report on Friday, May 29th. Five investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $172.33.

Institutional Trading of NetApp

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of NetApp during the second quarter worth $2,925,168,000. Norges Bank acquired a new stake in NetApp in the fourth quarter valued at $458,060,000. First Trust Advisors LP raised its stake in NetApp by 127.0% in the first quarter. First Trust Advisors LP now owns 3,658,066 shares of the data storage provider's stock valued at $374,549,000 after buying an additional 2,046,912 shares in the last quarter. Deutsche Bank AG purchased a new stake in NetApp during the 2nd quarter worth about $195,203,000. Finally, Bank of New York Mellon Corp purchased a new stake in NetApp during the 2nd quarter worth about $181,772,000. Institutional investors and hedge funds own 92.17% of the company's stock.

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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