Insider Selling: NetApp, Inc. (NASDAQ:NTAP) EVP Sells $88,971.00 in Stock

NetApp, Inc. (NASDAQ:NTAP) EVP Elizabeth M. O’callahan sold 705 shares of the firm’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $126.20, for a total value of $88,971.00. Following the transaction, the executive vice president now directly owns 11,694 shares of the company’s stock, valued at $1,475,782.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

NetApp Trading Up 1.6 %

NetApp stock opened at $126.93 on Monday. The business has a 50-day simple moving average of $123.03 and a two-hundred day simple moving average of $118.87. The company has a market cap of $26.12 billion, a P/E ratio of 27.36, a P/E/G ratio of 4.77 and a beta of 1.23. NetApp, Inc. has a 52-week low of $70.82 and a 52-week high of $135.01. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 1.34.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, August 28th. The data storage provider reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.11. NetApp had a return on equity of 121.41% and a net margin of 17.01%. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the previous year, the firm earned $0.84 EPS. The business’s quarterly revenue was up 7.6% on a year-over-year basis. Analysts predict that NetApp, Inc. will post 5.71 EPS for the current year.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Friday, October 4th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.64%. NetApp’s payout ratio is currently 44.83%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on NTAP shares. Wedbush reissued a “neutral” rating and set a $120.00 price objective on shares of NetApp in a research report on Monday, August 26th. JPMorgan Chase & Co. lifted their price target on NetApp from $146.00 to $147.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Loop Capital raised NetApp from a “hold” rating to a “buy” rating and lifted their price target for the stock from $121.00 to $150.00 in a research report on Tuesday, September 3rd. Evercore ISI lifted their price target on NetApp from $120.00 to $130.00 and gave the stock an “in-line” rating in a research report on Monday, August 12th. Finally, Susquehanna reaffirmed a “positive” rating and issued a $155.00 price target on shares of NetApp in a research report on Monday, August 26th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, NetApp currently has an average rating of “Hold” and an average target price of $129.06.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NTAP. Creative Planning raised its holdings in shares of NetApp by 8.7% during the 3rd quarter. Creative Planning now owns 26,001 shares of the data storage provider’s stock worth $3,211,000 after acquiring an additional 2,073 shares in the last quarter. Empirical Asset Management LLC grew its position in NetApp by 8.6% in the 3rd quarter. Empirical Asset Management LLC now owns 2,913 shares of the data storage provider’s stock valued at $360,000 after acquiring an additional 230 shares during the last quarter. ORG Wealth Partners LLC bought a new position in NetApp in the 3rd quarter valued at $109,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in NetApp in the 3rd quarter valued at $75,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its position in NetApp by 204.4% in the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 36,744 shares of the data storage provider’s stock valued at $4,538,000 after acquiring an additional 24,675 shares during the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.

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.