Cesar Cernuda Sells 2,608 Shares of NetApp (NASDAQ:NTAP) Stock

NetApp, Inc. (NASDAQ:NTAP) President Cesar Cernuda sold 2,608 shares of the business’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $204.48, for a total transaction of $533,283.84. Following the sale, the president owned 46,530 shares in the company, valued at $9,514,454.40. The trade was a 5.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Cesar Cernuda also recently made the following trade(s):

• On Tuesday, June 23rd, Cesar Cernuda sold 49,464 shares of NetApp stock. The shares were sold at an average price of $154.82, for a total transaction of $7,658,016.48.

NetApp Stock Down 0.9%

Shares of NASDAQ NTAP opened at $192.81 on Friday. The stock has a market capitalization of $37.84 billion, a price-to-earnings ratio of 30.32, a price-to-earnings-growth ratio of 3.49 and a beta of 1.45. NetApp, Inc. has a 52 week low of $93.69 and a 52 week high of $209.06. The firm has a 50-day moving average price of $172.32 and a 200 day moving average price of $134.48. The company has a quick ratio of 1.39, a current ratio of 1.44 and a debt-to-equity ratio of 1.84.

NetApp (NASDAQ:NTAP) last issued its earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.24). NetApp had a return on equity of 117.23% and a net margin of 18.43%.The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the company posted $1.93 earnings per share. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. Equities research analysts anticipate that NetApp, Inc. will post 7.3 EPS for the current fiscal year.

NetApp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 29th. Investors of record on Friday, July 10th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, July 10th. NetApp’s dividend payout ratio (DPR) is presently 32.70%.

Hedge Funds Weigh In On NetApp

Hedge funds have recently bought and sold shares of the stock. Park Square Financial Group LLC boosted its stake in shares of NetApp by 68.7% during the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock valued at $29,000 after acquiring an additional 103 shares during the last quarter. Gen Wealth Partners Inc acquired a new position in NetApp in the 4th quarter valued at about $30,000. DV Equities LLC acquired a new position in NetApp in the 4th quarter valued at about $30,000. Roble Belko & Company Inc purchased a new position in NetApp in the 1st quarter valued at about $31,000. Finally, Torren Management LLC purchased a new position in NetApp in the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NTAP shares. Citigroup lifted their price objective on NetApp from $150.00 to $209.00 and gave the stock a “neutral” rating in a report on Tuesday. Bank of America raised their price target on NetApp from $125.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. UBS Group reaffirmed a “neutral” rating and set a $160.00 price target on shares of NetApp in a research note on Friday, May 29th. Wedbush increased their price objective on shares of NetApp from $115.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Finally, JPMorgan Chase & Co. raised their target price on shares of NetApp from $110.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Five analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, NetApp presently has an average rating of “Hold” and an average price target of $177.25.

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.