Insider Selling: NetApp, Inc. (NASDAQ:NTAP) EVP Sells 452 Shares of Stock

NetApp, Inc. (NASDAQ:NTAP) EVP Elizabeth M. O’callahan sold 452 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $120.75, for a total value of $54,579.00. Following the transaction, the executive vice president now owns 11,553 shares of the company’s stock, valued at $1,395,024.75. The trade was a 3.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

NetApp Stock Down 1.4 %

NTAP stock traded down $1.66 during mid-day trading on Wednesday, reaching $117.90. The company had a trading volume of 1,594,994 shares, compared to its average volume of 1,347,141. NetApp, Inc. has a 52 week low of $83.80 and a 52 week high of $135.45. The company has a market capitalization of $23.97 billion, a price-to-earnings ratio of 21.67, a PEG ratio of 2.94 and a beta of 1.23. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. The stock has a 50 day simple moving average of $120.88 and a two-hundred day simple moving average of $121.98.

NetApp (NASDAQ:NTAP) last issued its earnings results on Thursday, November 21st. The data storage provider reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.09. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.65 billion. NetApp had a net margin of 17.78% and a return on equity of 123.63%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.23 earnings per share. As a group, equities analysts predict that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend was Friday, January 3rd. NetApp’s payout ratio is currently 38.24%.

Institutional Trading of NetApp

Several institutional investors and hedge funds have recently bought and sold shares of NTAP. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of NetApp during the 4th quarter worth approximately $26,000. Northwest Investment Counselors LLC bought a new position in NetApp during the third quarter worth $27,000. Assetmark Inc. boosted its position in NetApp by 826.9% during the fourth quarter. Assetmark Inc. now owns 241 shares of the data storage provider’s stock worth $28,000 after purchasing an additional 215 shares during the period. Synergy Investment Management LLC bought a new position in shares of NetApp in the fourth quarter valued at about $32,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of NetApp during the 4th quarter worth about $35,000. Institutional investors own 92.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NTAP. JPMorgan Chase & Co. raised shares of NetApp from a “neutral” rating to an “overweight” rating and set a $160.00 target price for the company in a research note on Monday, December 16th. TD Cowen upped their price objective on shares of NetApp from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Susquehanna lowered NetApp from a “positive” rating to a “neutral” rating and reduced their target price for the stock from $155.00 to $130.00 in a report on Monday. Citigroup raised their price target on NetApp from $130.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, Barclays raised their target price on shares of NetApp from $119.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $137.53.

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.