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

NetApp, Inc. (NASDAQ:NTAP) EVP Elizabeth O’callahan sold 1,000 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $103.45, for a total transaction of $103,450.00. Following the transaction, the executive vice president owned 20,075 shares in the company, valued at approximately $2,076,758.75. This trade represents a 4.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

NetApp Trading Up 0.2%

NTAP stock traded up $0.26 during trading on Wednesday, hitting $105.90. The company had a trading volume of 1,884,851 shares, compared to its average volume of 2,536,755. The firm has a 50-day moving average price of $106.77 and a 200-day moving average price of $111.65. NetApp, Inc. has a 12 month low of $71.84 and a 12 month high of $127.78. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 2.52. The stock has a market cap of $20.97 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 2.27 and a beta of 1.38.

NetApp (NASDAQ:NTAP) last released its earnings results on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.17. NetApp had a net margin of 17.73% and a return on equity of 121.28%. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same period in the prior year, the company posted $1.87 EPS. The company’s revenue was up 2.8% compared to the same quarter last year. NetApp has set its FY 2026 guidance at 7.750-8.050 EPS and its Q3 2026 guidance at 2.010-2.110 EPS. As a group, analysts predict that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 21st. Investors of record on Friday, January 2nd were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.0%. NetApp’s payout ratio is 36.17%.

Analyst Upgrades and Downgrades

NTAP has been the topic of a number of recent analyst reports. Northland Securities set a $137.00 target price on NetApp and gave the stock an “outperform” rating in a report on Wednesday, November 26th. Bank of America increased their price target on shares of NetApp from $125.00 to $129.00 and gave the company a “neutral” rating in a research report on Wednesday, November 26th. Citigroup decreased their price objective on shares of NetApp from $130.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, November 12th. UBS Group upped their target price on shares of NetApp from $114.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, November 26th. Finally, Oppenheimer reissued a “market perform” rating on shares of NetApp in a research report on Wednesday, November 26th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, NetApp currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.93.

Institutional Investors Weigh In On NetApp

Large investors have recently made changes to their positions in the stock. Empowered Funds LLC increased its holdings in NetApp by 69.5% during the 4th quarter. Empowered Funds LLC now owns 186,387 shares of the data storage provider’s stock worth $19,863,000 after purchasing an additional 76,416 shares in the last quarter. Smithbridge Asset Management Inc. DE boosted its position in shares of NetApp by 3.4% during the fourth quarter. Smithbridge Asset Management Inc. DE now owns 6,286 shares of the data storage provider’s stock worth $673,000 after buying an additional 208 shares during the period. Zions Bancorporation National Association UT grew its holdings in shares of NetApp by 99.5% during the fourth quarter. Zions Bancorporation National Association UT now owns 385 shares of the data storage provider’s stock worth $41,000 after buying an additional 192 shares in the last quarter. Illinois Municipal Retirement Fund grew its holdings in shares of NetApp by 17.9% during the fourth quarter. Illinois Municipal Retirement Fund now owns 219,650 shares of the data storage provider’s stock worth $23,522,000 after buying an additional 33,280 shares in the last quarter. Finally, Wills Financial Group LLC acquired a new stake in NetApp in the 4th quarter valued at approximately $1,357,000. Institutional investors 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.