NetApp, Inc. (NASDAQ:NTAP) EVP Elizabeth M. O’callahan Sells 451 Shares of Stock

NetApp, Inc. (NASDAQ:NTAP) EVP Elizabeth M. O’callahan sold 451 shares of NetApp stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $116.79, for a total value of $52,672.29. Following the sale, the executive vice president now owns 12,005 shares of the company’s stock, valued at approximately $1,402,063.95. This represents a 3.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

NetApp Stock Up 1.5 %

NTAP opened at $116.69 on Wednesday. The business has a 50 day moving average of $121.02 and a 200-day moving average of $122.97. The stock has a market capitalization of $23.72 billion, a price-to-earnings ratio of 21.45, a P/E/G ratio of 2.92 and a beta of 1.23. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. NetApp, Inc. has a 1-year low of $83.80 and a 1-year high of $135.45.

NetApp (NASDAQ:NTAP) last released its earnings results on Thursday, November 21st. The data storage provider reported $1.87 EPS for the quarter, beating the consensus estimate of $1.78 by $0.09. NetApp had a net margin of 17.78% and a return on equity of 123.63%. The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the prior year, the company earned $1.23 EPS. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that NetApp, Inc. will post 5.83 earnings per share for the current year.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.08 annualized dividend and a yield of 1.78%. NetApp’s dividend payout ratio is 38.24%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NTAP. Barclays raised their price objective on shares of NetApp from $119.00 to $132.00 and gave the company an “equal weight” rating in a research report on Friday, November 22nd. Citigroup raised their price target on shares of NetApp from $130.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Bank of America upped their price objective on shares of NetApp from $115.00 to $121.00 and gave the stock an “underperform” rating in a report on Friday, November 22nd. Wells Fargo & Company raised their target price on NetApp from $135.00 to $140.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. raised NetApp from a “neutral” rating to an “overweight” rating and set a $160.00 price target for the company in a research report on Monday, December 16th. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, NetApp currently has a consensus rating of “Hold” and an average target price of $139.20.

Hedge Funds Weigh In On NetApp

Hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC increased its stake in NetApp by 59.6% in the second quarter. AQR Capital Management LLC now owns 1,643,146 shares of the data storage provider’s stock valued at $211,637,000 after acquiring an additional 613,583 shares during the period. Geode Capital Management LLC boosted its holdings in NetApp by 8.2% during the third quarter. Geode Capital Management LLC now owns 5,985,673 shares of the data storage provider’s stock valued at $738,280,000 after purchasing an additional 453,324 shares in the last quarter. APG Asset Management US Inc. bought a new stake in shares of NetApp in the 2nd quarter valued at approximately $48,074,000. Robeco Institutional Asset Management B.V. raised its holdings in shares of NetApp by 38.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,232,852 shares of the data storage provider’s stock worth $152,270,000 after buying an additional 342,415 shares in the last quarter. Finally, Unigestion Holding SA lifted its position in shares of NetApp by 926.1% during the 3rd quarter. Unigestion Holding SA now owns 283,674 shares of the data storage provider’s stock worth $35,022,000 after buying an additional 256,028 shares during the period. Institutional investors and hedge funds own 92.17% of the company’s stock.

About NetApp

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.