Henri P. Richard Sells 4,900 Shares of NetApp (NTAP) Stock

NetApp (NASDAQ:NTAP) EVP Henri P. Richard sold 4,900 shares of the company’s stock in a transaction dated Tuesday, April 10th. The shares were sold at an average price of $66.00, for a total value of $323,400.00. Following the completion of the transaction, the executive vice president now owns 6,984 shares in the company, valued at approximately $460,944. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Shares of NetApp stock opened at $67.47 on Friday. The company has a market cap of $17,720.41, a price-to-earnings ratio of 32.13, a P/E/G ratio of 2.19 and a beta of 1.27. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.91 and a quick ratio of 1.88. NetApp has a 12-month low of $37.43 and a 12-month high of $68.79.

NetApp (NASDAQ:NTAP) last announced its earnings results on Wednesday, February 14th. The data storage provider reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.08. The firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.49 billion. NetApp had a positive return on equity of 29.38% and a negative net margin of 0.09%. During the same quarter in the prior year, the business earned $0.82 earnings per share. equities analysts predict that NetApp will post 2.92 EPS for the current fiscal year.



The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Friday, April 6th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, April 5th. This represents a $0.80 dividend on an annualized basis and a yield of 1.19%. NetApp’s payout ratio is currently 38.10%.

Institutional investors have recently made changes to their positions in the business. Investec Asset Management LTD bought a new stake in shares of NetApp in the fourth quarter valued at approximately $290,829,000. Boston Partners boosted its position in shares of NetApp by 68.1% in the fourth quarter. Boston Partners now owns 12,127,140 shares of the data storage provider’s stock valued at $670,873,000 after acquiring an additional 4,914,409 shares during the period. Shellback Capital LP bought a new stake in shares of NetApp in the fourth quarter valued at approximately $36,817,000. Millennium Management LLC boosted its position in shares of NetApp by 39.6% in the fourth quarter. Millennium Management LLC now owns 1,233,888 shares of the data storage provider’s stock valued at $68,259,000 after acquiring an additional 350,081 shares during the period. Finally, PGGM Investments boosted its position in shares of NetApp by 268.0% in the fourth quarter. PGGM Investments now owns 452,900 shares of the data storage provider’s stock valued at $25,054,000 after acquiring an additional 329,816 shares during the period. 94.97% of the stock is owned by hedge funds and other institutional investors.

NTAP has been the subject of several recent research reports. UBS boosted their price target on NetApp from $62.00 to $71.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Morgan Stanley raised NetApp from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $41.00 to $64.00 in a research note on Tuesday, January 23rd. Zacks Investment Research raised NetApp from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research note on Tuesday, February 20th. TheStreet cut NetApp from a “b” rating to a “c+” rating in a research note on Wednesday, February 14th. Finally, Bank of America raised NetApp from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 13th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eighteen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $59.81.

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NetApp Company Profile

NetApp, Inc provides software, systems, and services to manage and store computer data worldwide. It offers flash; flash arrays that support data management; hybrid arrays to deploy the speed of flash storage; hybrid cloud; ONTAP cloud storage data management service; NetApp cloud sync hybrid data management Software as a Service; NetApp private storage for cloud; and AltaVault cloud-integrated solutions.

Insider Buying and Selling by Quarter for NetApp (NASDAQ:NTAP)

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