NetApp, Inc. (NASDAQ:NTAP) EVP Sells $48,882.24 in Stock

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

NetApp Stock Down 1.2 %

NTAP opened at $90.92 on Wednesday. The stock has a market capitalization of $18.49 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 2.45 and a beta of 1.24. The firm has a 50 day moving average price of $116.44 and a 200-day moving average price of $119.89. NetApp, Inc. has a twelve month low of $90.08 and a twelve month high of $135.45. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39.

NetApp Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on NTAP shares. StockNews.com cut NetApp from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Keefe, Bruyette & Woods raised shares of NetApp to an “outperform” rating in a research report on Wednesday, February 19th. Susquehanna cut shares of NetApp from a “positive” rating to a “neutral” rating and lowered their price target for the company from $155.00 to $130.00 in a research report on Monday, February 10th. Barclays decreased their target price on shares of NetApp from $132.00 to $115.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Finally, Bank of America upgraded shares of NetApp from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $121.00 to $128.00 in a report on Wednesday, February 19th. Twelve equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $129.07.

Hedge Funds Weigh In On NetApp

A number of institutional investors and hedge funds have recently modified their holdings of NTAP. Migdal Insurance & Financial Holdings Ltd. bought a new position in NetApp in the fourth quarter valued at about $26,000. Assetmark Inc. increased its position in shares of 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 bought a new position in shares of NetApp in the 4th quarter worth approximately $32,000. Itau Unibanco Holding S.A. boosted its holdings in shares of NetApp by 929.6% in the fourth 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 in the fourth quarter worth approximately $35,000. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

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.