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

NetApp, Inc. (NASDAQ:NTAP) EVP Elizabeth O’callahan sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $175.95, for a total value of $175,950.00. Following the completion of the sale, the executive vice president owned 29,423 shares of the company’s stock, valued at $5,176,976.85. This represents a 3.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

NetApp Stock Performance

Shares of NASDAQ:NTAP traded up $2.96 during trading on Thursday, hitting $186.08. 1,430,345 shares of the stock were exchanged, compared to its average volume of 1,977,188. The company has a market capitalization of $36.55 billion, a price-to-earnings ratio of 26.25, a price-to-earnings-growth ratio of 1.97 and a beta of 1.52. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.16 and a current ratio of 1.24. NetApp, Inc. has a 1-year low of $93.69 and a 1-year high of $240.87. The company’s fifty day simple moving average is $203.90 and its 200-day simple moving average is $153.57.

NetApp (NASDAQ:NTAP) last issued its earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.46. The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.84 billion. NetApp had a return on equity of 119.13% and a net margin of 19.18%. NetApp’s revenue was up 29.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.15 earnings per share. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. Sell-side analysts expect that NetApp, Inc. will post 8.32 EPS for the current fiscal year.

NetApp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 28th. Shareholders of record on Friday, October 9th were issued 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, October 9th. NetApp’s payout ratio is 29.34%.

Institutional Trading of NetApp

Large investors have recently bought and sold shares of the stock. Provenance Wealth Advisors LLC acquired a new position in NetApp during the third quarter worth $26,000. West Financial Advisors LLC bought a new position in shares of NetApp during the second quarter valued at $37,000. Fortitude Family Office LLC lifted its holdings in shares of NetApp by 56.9% during the third quarter. Fortitude Family Office LLC now owns 204 shares of the data storage provider’s stock valued at $43,000 after acquiring an additional 74 shares during the period. Bell Investment Advisors Inc acquired a new stake in shares of NetApp in the 2nd quarter valued at $55,000. Finally, Jacobi Capital Management LLC acquired a new stake in shares of NetApp in the 3rd quarter valued at $56,000. 92.17% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on NTAP shares. Daiwa Securities Group increased their price objective on shares of NetApp from $180.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, September 16th. Guggenheim assumed coverage on shares of NetApp in a research report on Monday, October 26th. They set a “neutral” rating on the stock. Loop Capital set a $300.00 target price on shares of NetApp in a research note on Wednesday, October 7th. Northland Securities increased their price target on shares of NetApp from $171.00 to $187.00 and gave the stock an “outperform” rating in a research report on Thursday, September 3rd. Finally, JPMorgan Chase & Co. raised their price target on shares of NetApp from $175.00 to $195.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 25th. Eleven research 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.com, NetApp currently has an average rating of “Moderate Buy” and a consensus price target of $205.24.

About NetApp

NetApp, Inc. develops data storage and data management technologies for businesses and other organizations. Its offerings support workloads across on-premises infrastructure, public cloud environments and hybrid settings, with services for storing, managing, protecting and moving data. The company’s portfolio includes its ONTAP data management software, all-flash and hybrid-flash storage systems, object storage, and cloud storage and data services. NetApp also provides tools to help customers manage data across different environments and offers infrastructure through its Keystone storage-as-a-service model.