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 dated Tuesday, September 24th. The shares were sold at an average price of $123.60, for a total transaction of $208,266.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

NetApp Price Performance

NASDAQ:NTAP 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. NetApp, Inc. has a 12-month low of $70.82 and a 12-month high of $135.01. The stock’s 50 day moving average price is $123.27 and its two-hundred day moving average price is $117.10. The firm has a market capitalization of $24.95 billion, a price-to-earnings ratio of 26.17, a P/E/G ratio of 4.61 and a beta of 1.23.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Wednesday, August 28th. The data storage provider reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.11. The business had revenue of $1.54 billion during 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 company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 EPS. On average, analysts anticipate that NetApp, Inc. will post 5.71 earnings per share for the current year.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Friday, October 4th will be paid a $0.52 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.08 annualized dividend and a yield of 1.72%. NetApp’s dividend payout ratio (DPR) is presently 44.83%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Argus raised their price objective on shares of NetApp from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, June 5th. JPMorgan Chase & Co. increased their target price on NetApp from $146.00 to $147.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Citigroup raised their target price on NetApp from $120.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Morgan Stanley increased their price target on shares of NetApp from $106.00 to $127.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 12th. Finally, UBS Group boosted their price objective on shares of NetApp from $121.00 to $134.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $129.06.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NTAP. TD Asset Management Inc boosted its position in shares of NetApp by 127.0% in the fourth quarter. TD Asset Management Inc now owns 1,698,277 shares of the data storage provider’s stock valued at $149,720,000 after acquiring an additional 950,204 shares during the period. Bessemer Group Inc. increased its holdings in shares of NetApp by 46.1% during the first quarter. Bessemer Group Inc. now owns 16,720 shares of the data storage provider’s stock worth $1,754,000 after purchasing an additional 5,273 shares during the period. Headlands Technologies LLC bought a new position in shares of NetApp during the first quarter worth approximately $473,000. Alpha DNA Investment Management LLC acquired a new stake in shares of NetApp in the fourth quarter valued at approximately $802,000. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of NetApp by 189.2% in the fourth quarter. Cubist Systematic Strategies LLC now owns 263,103 shares of the data storage provider’s stock valued at $23,195,000 after buying an additional 172,132 shares during the period. 92.17% of the stock is owned by institutional investors and hedge funds.

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.