NetApp, Inc. (NASDAQ:NTAP) Director Sells $397,393.59 in Stock

NetApp, Inc. (NASDAQ:NTAP) Director Thomas Michael Nevens sold 3,333 shares of NetApp stock in a transaction on Monday, November 18th. The stock was sold at an average price of $119.23, for a total value of $397,393.59. Following the completion of the transaction, the director now owns 9,277 shares in the company, valued at $1,106,096.71. The trade was a 26.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

NetApp Trading Down 3.4 %

Shares of NASDAQ NTAP opened at $122.34 on Friday. The business has a 50 day simple moving average of $121.87 and a 200 day simple moving average of $122.49. NetApp, Inc. has a 52 week low of $77.56 and a 52 week high of $135.45. The stock has a market cap of $25.05 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 3.26 and a beta of 1.24. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.91 and a current ratio of 0.96.

NetApp (NASDAQ:NTAP) last posted its earnings results on Thursday, November 21st. The data storage provider reported $1.87 EPS for the quarter, topping the consensus estimate of $1.78 by $0.09. The company had revenue of $1.66 billion during 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 119.68%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.23 earnings per share. On average, research analysts predict that NetApp, Inc. will post 5.71 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Friday, January 3rd. NetApp’s dividend payout ratio is presently 38.24%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Stifel Nicolaus lifted their target price on NetApp from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Friday. UBS Group lifted their target price on NetApp from $121.00 to $134.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Bank of America lifted their target price on NetApp from $115.00 to $121.00 and gave the stock an “underperform” rating in a report on Friday. Citigroup lifted their price target on NetApp from $130.00 to $135.00 and gave the company a “neutral” rating in a report on Friday. Finally, Northland Securities lifted their price target on NetApp from $108.00 to $120.00 and gave the company a “market perform” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, NetApp presently has a consensus rating of “Hold” and a consensus price target of $134.00.

Institutional Investors Weigh In On NetApp

A number of large investors have recently bought and sold shares of NTAP. Hollencrest Capital Management bought a new stake in NetApp in the second quarter worth $26,000. Northwest Investment Counselors LLC acquired a new stake in shares of NetApp in the third quarter worth $27,000. New Covenant Trust Company N.A. bought a new stake in shares of NetApp during the 1st quarter worth $28,000. Redwood Wealth Management Group LLC acquired a new position in NetApp in the 2nd quarter valued at $32,000. Finally, Crewe Advisors LLC bought a new position in NetApp in the 1st quarter worth $35,000. 92.17% of the stock is currently owned by institutional investors.

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.