Insider Selling: NetApp, Inc. (NASDAQ:NTAP) EVP Sells 871 Shares of Stock

NetApp, Inc. (NASDAQ:NTAP) EVP Elizabeth M. O’callahan sold 871 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $103.02, for a total transaction of $89,730.42. Following the completion of the transaction, the executive vice president now owns 9,601 shares in the company, valued at approximately $989,095.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

NetApp Stock Performance

NTAP traded down $3.05 during mid-day trading on Friday, reaching $101.81. 1,346,743 shares of the company traded hands, compared to its average volume of 1,913,877. The stock has a market capitalization of $21.01 billion, a P/E ratio of 23.19, a P/E/G ratio of 2.26 and a beta of 1.28. NetApp, Inc. has a 52-week low of $60.92 and a 52-week high of $112.48. The company has a quick ratio of 1.11, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. The company’s fifty day moving average price is $97.45 and its 200-day moving average price is $87.36.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Thursday, February 29th. The data storage provider reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.25. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.59 billion. NetApp had a return on equity of 109.49% and a net margin of 15.21%. NetApp’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.02 earnings per share. On average, sell-side analysts expect that NetApp, Inc. will post 5.16 EPS for the current year.

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Friday, April 5th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.96%. The ex-dividend date is Thursday, April 4th. NetApp’s dividend payout ratio is presently 45.45%.

Analyst Ratings Changes

A number of brokerages have issued reports on NTAP. Wedbush raised their price target on shares of NetApp from $85.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. JPMorgan Chase & Co. upped their price objective on shares of NetApp from $87.00 to $95.00 and gave the company an “underweight” rating in a research note on Friday, March 1st. Argus raised shares of NetApp from a “hold” rating to a “buy” rating and set a $130.00 price objective for the company in a research note on Monday, March 4th. UBS Group upped their price objective on shares of NetApp from $93.00 to $96.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Finally, Evercore ISI upped their price objective on shares of NetApp from $95.00 to $105.00 and gave the company an “in-line” rating in a research note on Friday, March 1st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, NetApp has a consensus rating of “Hold” and a consensus target price of $97.94.

Institutional Trading of NetApp

Hedge funds and other institutional investors have recently bought and sold shares of the stock. ORG Partners LLC grew its position in shares of NetApp by 14,650.0% during the fourth quarter. ORG Partners LLC now owns 295 shares of the data storage provider’s stock worth $26,000 after purchasing an additional 293 shares in the last quarter. Larson Financial Group LLC purchased a new position in NetApp during the third quarter valued at $27,000. First Horizon Advisors Inc. increased its holdings in NetApp by 58.7% in the 4th quarter. First Horizon Advisors Inc. now owns 311 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 115 shares during the last quarter. Rise Advisors LLC purchased a new stake in NetApp in the 1st quarter worth $27,000. Finally, Sunbelt Securities Inc. bought a new position in shares of NetApp during the 1st quarter valued at about $28,000. Hedge funds and other institutional investors 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.