NetApp, Inc. (NASDAQ:NTAP) CAO Lorenzo Daniel De Sells 326 Shares

NetApp, Inc. (NASDAQ:NTAP) CAO Lorenzo Daniel De sold 326 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $117.44, for a total value of $38,285.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Lorenzo Daniel De also recently made the following trade(s):

• On Tuesday, September 24th, Lorenzo Daniel De sold 1,685 shares of NetApp stock. The shares were sold at an average price of $123.60, for a total value of $208,266.00.

NetApp Stock Performance

NTAP stock traded up $2.86 during trading on Tuesday, reaching $122.20. 2,545,240 shares of the stock were exchanged, compared to its average volume of 1,809,838. NetApp, Inc. has a twelve month low of $77.08 and a twelve month high of $135.01. The company has a market capitalization of $25.02 billion, a P/E ratio of 23.24, a price-to-earnings-growth ratio of 3.01 and a beta of 1.24. The stock has a 50 day simple moving average of $121.26 and a 200-day simple moving average of $122.23. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 1.34.

NetApp (NASDAQ:NTAP) last released its earnings results on Wednesday, August 28th. The data storage provider reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.11. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. NetApp had a return on equity of 121.41% and a net margin of 17.01%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the business earned $0.84 earnings per share. As a group, sell-side analysts anticipate that NetApp, Inc. will post 5.71 earnings per share for the current year.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Friday, October 4th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend was Friday, October 4th. NetApp’s payout ratio is 40.63%.

Institutional Investors Weigh In On NetApp

A number of institutional investors have recently added to or reduced their stakes in NTAP. Blair William & Co. IL boosted its holdings in NetApp by 11.4% during the first quarter. Blair William & Co. IL now owns 19,411 shares of the data storage provider’s stock valued at $2,038,000 after purchasing an additional 1,990 shares in the last quarter. Bessemer Group Inc. boosted its holdings in NetApp by 46.1% during the first quarter. Bessemer Group Inc. now owns 16,720 shares of the data storage provider’s stock valued at $1,754,000 after purchasing an additional 5,273 shares in the last quarter. Lake Street Advisors Group LLC acquired a new stake in NetApp during the first quarter valued at approximately $208,000. National Bank of Canada FI boosted its holdings in NetApp by 221.9% during the first quarter. National Bank of Canada FI now owns 301,699 shares of the data storage provider’s stock valued at $32,731,000 after purchasing an additional 207,968 shares in the last quarter. Finally, Pitcairn Co. raised its stake in shares of NetApp by 18.3% in the first quarter. Pitcairn Co. now owns 9,486 shares of the data storage provider’s stock valued at $996,000 after acquiring an additional 1,466 shares during the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NTAP has been the topic of several recent research reports. JPMorgan Chase & Co. raised their target price on NetApp from $146.00 to $147.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Oppenheimer initiated coverage on NetApp in a report on Wednesday, November 13th. They set a “market perform” rating on the stock. Susquehanna restated a “positive” rating and set a $155.00 target price on shares of NetApp in a report on Monday, August 26th. Loop Capital upgraded NetApp from a “hold” rating to a “buy” rating and raised their target price for the company from $121.00 to $150.00 in a report on Tuesday, September 3rd. Finally, Evercore ISI raised their price target on NetApp from $120.00 to $130.00 and gave the company an “in-line” rating in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $129.06.

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.