Insider Selling: NetApp (NASDAQ:NTAP) EVP Sells 1,000 Shares of Stock

NetApp, Inc. (NASDAQ:NTAP) EVP Elizabeth O’callahan sold 1,000 shares of NetApp stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $117.73, for a total value of $117,730.00. Following the transaction, the executive vice president directly owned 18,382 shares in the company, valued at approximately $2,164,112.86. The trade was a 5.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

NetApp Stock Up 2.0%

Shares of NASDAQ:NTAP traded up $2.35 during mid-day trading on Wednesday, hitting $118.58. 2,122,227 shares of the company traded hands, compared to its average volume of 2,331,554. The stock has a market cap of $23.40 billion, a P/E ratio of 19.83, a P/E/G ratio of 3.33 and a beta of 1.28. The company has a current ratio of 1.39, a quick ratio of 1.36 and a debt-to-equity ratio of 2.15. NetApp, Inc. has a 12-month low of $93.69 and a 12-month high of $126.66. The stock has a 50-day moving average price of $104.02 and a two-hundred day moving average price of $106.37.

NetApp (NASDAQ:NTAP) last announced its earnings results on Thursday, February 26th. The data storage provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.05. The company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.70 billion. NetApp had a return on equity of 118.11% and a net margin of 18.07%.NetApp’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.91 earnings per share. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. On average, equities research analysts forecast that NetApp, Inc. will post 6.48 earnings per share for the current year.

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 22nd. Investors of record on Friday, April 3rd were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Thursday, April 2nd. NetApp’s dividend payout ratio (DPR) is 34.78%.

Wall Street Analyst Weigh In

A number of analysts recently commented on NTAP shares. Citigroup lifted their price target on NetApp from $110.00 to $114.00 and gave the stock a “neutral” rating in a report on Monday, March 2nd. JPMorgan Chase & Co. lowered NetApp from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $125.00 to $110.00 in a research note on Thursday, April 16th. The Goldman Sachs Group started coverage on NetApp in a research note on Tuesday, January 13th. They issued a “buy” rating and a $128.00 target price on the stock. Wall Street Zen lowered NetApp from a “buy” rating to a “hold” rating in a research note on Sunday, April 19th. Finally, Wedbush restated a “neutral” rating and issued a $115.00 target price on shares of NetApp in a research note on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, NetApp presently has a consensus rating of “Hold” and a consensus target price of $122.64.

Institutional Trading of NetApp

A number of hedge funds and other institutional investors have recently made changes to their positions in NTAP. Caliber Wealth Management LLC KS boosted its position in NetApp by 5.0% during the 3rd quarter. Caliber Wealth Management LLC KS now owns 2,100 shares of the data storage provider’s stock valued at $249,000 after acquiring an additional 100 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of NetApp by 2.1% in the 4th quarter. Parallel Advisors LLC now owns 5,007 shares of the data storage provider’s stock worth $536,000 after purchasing an additional 101 shares in the last quarter. Park Square Financial Group LLC boosted its position in shares of NetApp by 68.7% in the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock worth $29,000 after purchasing an additional 103 shares in the last quarter. Assetmark Inc. boosted its position in shares of NetApp by 3.0% in the 1st quarter. Assetmark Inc. now owns 3,540 shares of the data storage provider’s stock worth $362,000 after purchasing an additional 104 shares in the last quarter. Finally, Frank Rimerman Advisors LLC boosted its position in shares of NetApp by 2.0% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 5,526 shares of the data storage provider’s stock worth $655,000 after purchasing an additional 106 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors.

NetApp Company Profile

NetApp, Inc (NASDAQ: NTAP) is a data management and storage company that delivers hybrid cloud data services for applications and data. Founded in 1992 as Network Appliance and rebranded as NetApp in 2008, the company is headquartered in Sunnyvale, California. NetApp’s offering focuses on enabling organizations to store, manage, protect and move data across on-premises environments and major public clouds.

The company’s product portfolio centers on the ONTAP data management software and a range of storage systems and services built around it.