NetApp, Inc. (NASDAQ:NTAP) EVP Elizabeth M. O’callahan Sells 528 Shares

NetApp, Inc. (NASDAQ:NTAP) EVP Elizabeth M. O’callahan sold 528 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $92.58, for a total transaction of $48,882.24. Following the transaction, the executive vice president now owns 12,900 shares of the company’s stock, valued at $1,194,282. This trade represents a 3.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

NetApp Stock Performance

NASDAQ:NTAP opened at $90.92 on Wednesday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91. NetApp, Inc. has a fifty-two week low of $90.08 and a fifty-two week high of $135.45. The firm has a market cap of $18.49 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24. The business has a 50 day moving average price of $116.44 and a 200-day moving average price of $119.89.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.08 annualized dividend and a yield of 2.29%. NetApp’s payout ratio is currently 38.52%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Northland Securities boosted their target price on NetApp from $108.00 to $120.00 and gave the stock a “market perform” rating in a research report on Friday, November 22nd. Citigroup dropped their price target on NetApp from $135.00 to $110.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. StockNews.com cut shares of NetApp from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Oppenheimer started coverage on shares of NetApp in a research report on Wednesday, November 13th. They set a “market perform” rating for the company. Finally, Loop Capital decreased their price target on shares of NetApp from $150.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Twelve analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, NetApp presently has a consensus rating of “Hold” and a consensus target price of $129.07.

Hedge Funds Weigh In On NetApp

Hedge funds have recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of NetApp during the fourth quarter worth about $26,000. Assetmark Inc. raised its position in NetApp by 826.9% during the 4th quarter. Assetmark Inc. now owns 241 shares of the data storage provider’s stock valued at $28,000 after purchasing an additional 215 shares during the last quarter. Synergy Investment Management LLC purchased a new stake in NetApp in the 4th quarter worth approximately $32,000. Itau Unibanco Holding S.A. grew its position in shares of NetApp by 929.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 278 shares of the data storage provider’s stock worth $32,000 after buying an additional 251 shares during the last quarter. Finally, Golden State Wealth Management LLC purchased a new position in shares of NetApp during the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

NetApp Company Profile

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.