NetApp (NASDAQ:NTAP) CAO Sells $33,000.00 in Stock

NetApp, Inc. (NASDAQ:NTAP) CAO Lorenzo Daniel De sold 275 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $120.00, for a total transaction of $33,000.00. Following the transaction, the chief accounting officer owned 1,090 shares in the company, valued at $130,800. The trade was a 20.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

NetApp Trading Up 12.4%

Shares of NetApp stock opened at $139.36 on Friday. The company has a current ratio of 1.39, a quick ratio of 1.36 and a debt-to-equity ratio of 2.15. NetApp, Inc. has a 12-month low of $93.69 and a 12-month high of $141.75. The firm has a market capitalization of $27.50 billion, a price-to-earnings ratio of 23.30, a PEG ratio of 2.26 and a beta of 1.28. The firm’s 50 day simple moving average is $107.72 and its two-hundred day simple moving average is $106.80.

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

NetApp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 22nd. Stockholders of record on Friday, April 3rd were paid a $0.52 dividend. The ex-dividend date was Thursday, April 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.5%. NetApp’s dividend payout ratio is presently 34.78%.

Institutional Trading of NetApp

A number of hedge funds have recently added to or reduced their stakes in NTAP. Abich Financial Wealth Management LLC purchased a new stake in NetApp during the third quarter worth $27,000. Rossby Financial LCC boosted its holdings in NetApp by 105.5% during the third quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock worth $27,000 after buying an additional 115 shares in the last quarter. Park Square Financial Group LLC boosted its holdings in NetApp by 68.7% during the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock worth $29,000 after buying an additional 103 shares in the last quarter. Gen Wealth Partners Inc purchased a new stake in NetApp during the fourth quarter worth $30,000. Finally, DV Equities LLC purchased a new stake in NetApp during the fourth quarter worth $30,000. 92.17% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NTAP. Weiss Ratings lowered shares of NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 13th. Wedbush reiterated a “neutral” rating and issued a $115.00 price objective on shares of NetApp in a research note on Wednesday, February 25th. Citigroup lowered shares of NetApp from a “neutral” rating to a “mixed” rating in a research note on Thursday, May 14th. Wall Street Zen lowered shares of NetApp from a “buy” rating to a “hold” rating in a research note on Sunday, April 19th. Finally, Bank of America increased their price objective on shares of NetApp from $118.00 to $125.00 and gave the stock a “neutral” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $122.27.

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.