NetApp (NASDAQ:NTAP) CAO Lorenzo Daniel De Sells 779 Shares

NetApp, Inc. (NASDAQ:NTAP) CAO Lorenzo Daniel De sold 779 shares of the stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $121.87, for a total value of $94,936.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

NetApp Trading Down 1.1%

Shares of NetApp stock traded down $1.31 during trading on Monday, reaching $118.57. 1,607,561 shares of the company were exchanged, compared to its average volume of 2,075,891. The business has a 50-day moving average price of $113.04 and a 200-day moving average price of $101.90. The firm has a market capitalization of $23.67 billion, a price-to-earnings ratio of 20.95, a P/E/G ratio of 2.60 and a beta of 1.46. The company has a quick ratio of 1.28, a current ratio of 1.31 and a debt-to-equity ratio of 2.55. NetApp, Inc. has a twelve month low of $71.84 and a twelve month high of $135.45.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.08 annualized dividend and a yield of 1.8%. NetApp’s dividend payout ratio (DPR) is presently 36.75%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Citigroup boosted their price objective on shares of NetApp from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Monday, August 11th. Argus reissued a “buy” rating and issued a $130.00 price target on shares of NetApp in a report on Friday, August 29th. Barclays raised their price target on NetApp from $117.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. Bank of America upped their price target on shares of NetApp from $121.00 to $125.00 and gave the company a “neutral” rating in a report on Monday, August 25th. Finally, Morgan Stanley set a $117.00 price objective on shares of NetApp in a research report on Thursday, August 28th. Seven analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $124.07.

Hedge Funds Weigh In On NetApp

Several hedge funds and other institutional investors have recently made changes to their positions in NTAP. Parkside Financial Bank & Trust lifted its holdings in NetApp by 19.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 647 shares of the data storage provider’s stock valued at $69,000 after purchasing an additional 104 shares during the last quarter. Horizon Investments LLC lifted its stake in shares of NetApp by 3.8% during the 1st quarter. Horizon Investments LLC now owns 2,919 shares of the data storage provider’s stock worth $255,000 after buying an additional 107 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of NetApp by 11.0% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,083 shares of the data storage provider’s stock worth $115,000 after buying an additional 107 shares during the period. Main Management ETF Advisors LLC grew its stake in NetApp by 1.7% in the 2nd quarter. Main Management ETF Advisors LLC now owns 7,330 shares of the data storage provider’s stock valued at $781,000 after buying an additional 120 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. grew its stake in NetApp by 54.9% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 350 shares of the data storage provider’s stock valued at $31,000 after buying an additional 124 shares during the last quarter. 92.17% of the stock is owned by 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.