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 that occurred on Monday, May 11th. The stock was sold at an average price of $117.73, for a total value of $117,730.00. Following the completion of the sale, the executive vice president owned 18,382 shares of the company’s stock, valued at $2,164,112.86. This trade represents a 5.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

NetApp Stock Performance

NTAP opened at $119.93 on Friday. The company has a market capitalization of $23.67 billion, a price-to-earnings ratio of 20.06, a price-to-earnings-growth ratio of 3.36 and a beta of 1.28. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.39 and a quick ratio of 1.36. NetApp, Inc. has a 1-year low of $93.69 and a 1-year high of $126.66. The business has a 50 day moving average price of $104.81 and a two-hundred day moving average price of $106.40.

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

NetApp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 22nd. Shareholders of record on Friday, April 3rd were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Thursday, April 2nd. NetApp’s dividend payout ratio is 34.78%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NTAP. Envestnet Asset Management Inc. raised its stake in NetApp by 4.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 432,772 shares of the data storage provider’s stock valued at $51,266,000 after purchasing an additional 20,089 shares during the period. Citigroup Inc. raised its stake in NetApp by 216.1% during the 3rd quarter. Citigroup Inc. now owns 927,525 shares of the data storage provider’s stock valued at $109,875,000 after purchasing an additional 634,085 shares during the period. National Pension Service raised its stake in NetApp by 26.0% during the 3rd quarter. National Pension Service now owns 159,274 shares of the data storage provider’s stock valued at $18,868,000 after purchasing an additional 32,833 shares during the period. J. Safra Sarasin Holding AG raised its stake in NetApp by 496.7% during the 3rd quarter. J. Safra Sarasin Holding AG now owns 18,168 shares of the data storage provider’s stock valued at $2,152,000 after purchasing an additional 15,123 shares during the period. Finally, Y Intercept Hong Kong Ltd raised its stake in NetApp by 515.1% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 115,757 shares of the data storage provider’s stock valued at $13,713,000 after purchasing an additional 96,937 shares during the period. Institutional investors own 92.17% of the company’s stock.

Analyst Ratings Changes

NTAP has been the subject of a number of research analyst reports. Weiss Ratings downgraded NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 13th. Wedbush restated a “neutral” rating and issued a $115.00 target price on shares of NetApp in a research report on Wednesday, February 25th. JPMorgan Chase & Co. cut NetApp from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $125.00 to $110.00 in a report on Thursday, April 16th. Wall Street Zen cut NetApp from a “buy” rating to a “hold” rating in a report on Sunday, April 19th. Finally, Citigroup cut NetApp from a “neutral” rating to a “mixed” rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $122.64.

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.