Lorenzo Daniel De Sells 1,685 Shares of NetApp, Inc. (NASDAQ:NTAP) Stock

NetApp, Inc. (NASDAQ:NTAP) CAO Lorenzo Daniel De sold 1,685 shares of the company’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $123.60, for a total transaction of $208,266.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

NetApp Price Performance

NTAP stock opened at $121.24 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 1.34. The firm has a market cap of $24.95 billion, a price-to-earnings ratio of 26.17, a PEG ratio of 4.61 and a beta of 1.23. The company’s fifty day simple moving average is $123.27 and its 200 day simple moving average is $117.10. NetApp, Inc. has a 12-month low of $70.82 and a 12-month high of $135.01.

NetApp (NASDAQ:NTAP) last announced its earnings results on Wednesday, August 28th. The data storage provider reported $1.56 EPS for the quarter, beating the consensus estimate of $1.45 by $0.11. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the company earned $0.84 EPS. On average, analysts expect that NetApp, Inc. will post 5.71 earnings per share for the current year.

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Friday, October 4th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.08 annualized dividend and a dividend yield of 1.72%. NetApp’s dividend payout ratio is currently 44.83%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NTAP. JPMorgan Chase & Co. upped their target price on NetApp from $146.00 to $147.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Wells Fargo & Company upped their price objective on NetApp from $120.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 12th. Citigroup raised their price objective on shares of NetApp from $120.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Bank of America boosted their target price on shares of NetApp from $105.00 to $110.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Finally, Loop Capital raised shares of NetApp from a “hold” rating to a “buy” rating and raised their price target for the company from $121.00 to $150.00 in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $129.06.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of NTAP. Hollencrest Capital Management bought a new stake in NetApp in the second quarter valued at $26,000. Rise Advisors LLC bought a new stake in NetApp in the 1st quarter valued at about $27,000. J.Safra Asset Management Corp raised its stake in NetApp by 706.3% during the 1st quarter. J.Safra Asset Management Corp now owns 258 shares of the data storage provider’s stock worth $27,000 after buying an additional 226 shares during the period. New Covenant Trust Company N.A. bought a new position in NetApp in the first quarter worth approximately $28,000. Finally, Redwood Wealth Management Group LLC acquired a new stake in NetApp in the second quarter valued at approximately $32,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

About NetApp

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.