Lorenzo Daniel De Sells 275 Shares of NetApp (NASDAQ:NTAP) Stock

NetApp, Inc. (NASDAQ:NTAP) CAO Lorenzo Daniel De sold 275 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $120.00, for a total value of $33,000.00. Following the completion of the transaction, the chief accounting officer owned 1,090 shares in the company, valued at $130,800. The trade was a 20.15% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

NetApp Trading Up 4.2%

Shares of NTAP stock opened at $123.94 on Friday. The stock’s fifty day moving average is $106.88 and its two-hundred day moving average is $106.57. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.36 and a current ratio of 1.39. The firm has a market capitalization of $24.46 billion, a P/E ratio of 20.73, a PEG ratio of 3.11 and a beta of 1.28. NetApp, Inc. has a fifty-two week low of $93.69 and a fifty-two week high of $126.66.

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

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 22nd. Stockholders of record on Friday, April 3rd were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Thursday, April 2nd. NetApp’s payout ratio is currently 34.78%.

Analyst Upgrades and Downgrades

NTAP has been the topic of several analyst reports. JPMorgan Chase & Co. lowered NetApp from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $125.00 to $110.00 in a report on Thursday, April 16th. Wall Street Zen lowered NetApp from a “buy” rating to a “hold” rating in a report on Sunday, April 19th. Wedbush reissued a “neutral” rating and set a $115.00 price objective on shares of NetApp in a research report on Wednesday, February 25th. Bank of America raised their price objective on NetApp from $118.00 to $125.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Citigroup downgraded NetApp from a “neutral” rating to a “mixed” rating in a research report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $122.27.

Hedge Funds Weigh In On NetApp

Institutional investors have recently bought and sold shares of the company. Abich Financial Wealth Management LLC acquired a new position in NetApp in the 3rd quarter valued at about $27,000. Rossby Financial LCC grew its position in NetApp by 105.5% in the 3rd quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 115 shares in the last quarter. Park Square Financial Group LLC grew its position in NetApp by 68.7% in the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock valued at $29,000 after acquiring an additional 103 shares in the last quarter. Gen Wealth Partners Inc acquired a new position in NetApp in the 4th quarter valued at about $30,000. Finally, DV Equities LLC acquired a new position in NetApp in the 4th quarter valued at about $30,000. 92.17% of the stock is owned by institutional investors and hedge funds.

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.