NetApp (NASDAQ:NTAP) EVP Sells $119,000.00 in Stock

Key Points

• NetApp EVP Elizabeth O'Callahan sold 1,000 shares at an average price of $119, totaling $119,000, resulting in a 4.23% decrease in her position.
• The company reported **$1.19 earnings per share**, missing the consensus estimate of $1.54, but had revenue of $1.56 billion for the quarter, exceeding analyst expectations.
• NetApp declared a quarterly dividend of **$0.52**, which will be paid on October 22nd, reflecting a **1.7% dividend yield** and a payout ratio of 36.75%.

NetApp, Inc. (NASDAQ:NTAP - Get Free Report) EVP Elizabeth O'callahan sold 1,000 shares of NetApp stock in a transaction on Friday, October 10th. The shares were sold at an average price of $119.00, for a total transaction of $119,000.00. Following the sale, the executive vice president directly owned 22,628 shares of the company's stock, valued at $2,692,732. This trade represents a 4.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

NetApp Price Performance

NASDAQ NTAP traded up $1.69 on Tuesday, reaching $120.55. The company's stock had a trading volume of 2,309,838 shares, compared to its average volume of 2,067,701. The firm has a market cap of $24.06 billion, a PE ratio of 21.30, a price-to-earnings-growth ratio of 2.48 and a beta of 1.45. NetApp, Inc. has a 52 week low of $71.84 and a 52 week 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 business has a 50-day moving average price of $116.12 and a 200 day moving average price of $103.93.

NetApp (NASDAQ:NTAP - Get Free Report) last announced its quarterly earnings data on Wednesday, August 27th. The data storage provider reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.54 by ($0.35). NetApp had a net margin of 17.77% and a return on equity of 123.24%. The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the prior year, the company earned $1.56 earnings per share. The company's quarterly revenue was up 1.2% on a year-over-year basis. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. Sell-side analysts expect that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd will be given a $0.52 dividend. The ex-dividend date is Friday, October 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.7%. NetApp's payout ratio is 36.75%.

Institutional Trading of NetApp

Several institutional investors and hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC increased its position in shares of NetApp by 62.8% during the 1st quarter. Farther Finance Advisors LLC now owns 1,141 shares of the data storage provider's stock valued at $102,000 after purchasing an additional 440 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of NetApp by 39.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 36,998 shares of the data storage provider's stock worth $3,250,000 after acquiring an additional 10,494 shares in the last quarter. Fifth Third Bancorp raised its position in NetApp by 17.9% in the 1st quarter. Fifth Third Bancorp now owns 10,910 shares of the data storage provider's stock worth $958,000 after purchasing an additional 1,658 shares during the last quarter. NorthCrest Asset Manangement LLC raised its position in shares of NetApp by 5.3% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 7,134 shares of the data storage provider's stock valued at $627,000 after acquiring an additional 356 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of NetApp by 6.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 51,950 shares of the data storage provider's stock valued at $4,563,000 after acquiring an additional 3,196 shares during the last quarter. Institutional investors and hedge funds own 92.17% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NTAP. Citigroup upped their target price on shares of NetApp from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Monday, August 11th. Morgan Stanley set a $117.00 price target on NetApp in a research report on Thursday, August 28th. UBS Group upped their price target on shares of NetApp from $108.00 to $114.00 and gave the company a "neutral" rating in a research report on Thursday, August 28th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of NetApp in a report on Wednesday, October 8th. Finally, Barclays increased their price target on NetApp from $117.00 to $125.00 and gave the stock an "overweight" rating in a research report on Thursday, August 28th. Seven investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $121.40.

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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