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

NetApp, Inc. (NASDAQ:NTAP) EVP Elizabeth M. O’callahan sold 451 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

NetApp Stock Up 2.3 %

Shares of NASDAQ NTAP opened at $119.36 on Thursday. The company has a market cap of $24.27 billion, a price-to-earnings ratio of 21.94, a PEG 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 12 month low of $83.80 and a 12 month high of $135.45. The stock has a 50-day moving average price of $121.02 and a two-hundred day moving average price of $122.97.

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

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be given a dividend of $0.52 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.74%. NetApp’s dividend payout ratio is currently 38.24%.

Hedge Funds Weigh In On NetApp

Large investors have recently bought and sold shares of the company. Hollencrest Capital Management bought a new stake in shares of NetApp during the second quarter worth about $26,000. Northwest Investment Counselors LLC bought a new stake in NetApp during the 3rd quarter worth approximately $27,000. Redwood Wealth Management Group LLC acquired a new position in NetApp in the 2nd quarter valued at approximately $32,000. True Wealth Design LLC raised its stake in shares of NetApp by 2,833.3% during the third quarter. True Wealth Design LLC now owns 352 shares of the data storage provider’s stock valued at $43,000 after acquiring an additional 340 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in shares of NetApp during the third quarter worth $44,000. 92.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NTAP. JPMorgan Chase & Co. upgraded NetApp from a “neutral” rating to an “overweight” rating and set a $160.00 price target for the company in a research note on Monday, December 16th. Morgan Stanley boosted their target price on shares of NetApp from $132.00 to $146.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. Oppenheimer initiated coverage on shares of NetApp in a research report on Wednesday, November 13th. They set a “market perform” rating on the stock. Barclays boosted their price objective on shares of NetApp from $119.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Finally, Citigroup raised their target price on shares of NetApp from $130.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $139.20.

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.