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

NetApp, Inc. (NASDAQ:NTAP) CAO Lorenzo Daniel De sold 326 shares of the firm’s stock in a transaction dated 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 document filed with the SEC, which is accessible through this hyperlink.

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 stock was sold at an average price of $123.60, for a total transaction of $208,266.00.

NetApp Stock Performance

NASDAQ:NTAP opened at $126.75 on Friday. The firm has a market capitalization of $25.96 billion, a PE ratio of 24.76, a PEG ratio of 3.13 and a beta of 1.24. NetApp, Inc. has a 1 year low of $77.46 and a 1 year high of $135.01. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 1.34. The firm’s fifty day simple moving average is $121.77 and its 200 day simple moving average is $122.39.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Thursday, November 21st. The data storage provider reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.09. The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.65 billion. NetApp had a return on equity of 121.41% and a net margin of 17.01%. NetApp’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.23 earnings per share. On average, sell-side analysts anticipate that NetApp, Inc. will post 5.71 EPS for the current year.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.64%. NetApp’s dividend payout ratio (DPR) is presently 40.62%.

Hedge Funds Weigh In On NetApp

Several large investors have recently added to or reduced their stakes in NTAP. Unigestion Holding SA grew its holdings in shares of NetApp by 926.1% during the 3rd quarter. Unigestion Holding SA now owns 283,674 shares of the data storage provider’s stock worth $35,022,000 after purchasing an additional 256,028 shares in the last quarter. TCW Group Inc. raised its stake in shares of NetApp by 14.9% in the third quarter. TCW Group Inc. now owns 502,438 shares of the data storage provider’s stock valued at $62,056,000 after purchasing an additional 65,223 shares in the last quarter. Fortem Financial Group LLC lifted its position in NetApp by 11.2% in the third quarter. Fortem Financial Group LLC now owns 9,306 shares of the data storage provider’s stock worth $1,149,000 after purchasing an additional 934 shares during the period. Chiron Investment Management LLC boosted its stake in NetApp by 93.2% during the third quarter. Chiron Investment Management LLC now owns 11,106 shares of the data storage provider’s stock worth $1,372,000 after buying an additional 5,357 shares in the last quarter. Finally, Coldstream Capital Management Inc. increased its holdings in NetApp by 5.7% in the 3rd quarter. Coldstream Capital Management Inc. now owns 3,080 shares of the data storage provider’s stock valued at $380,000 after buying an additional 166 shares during the period. Institutional investors and hedge funds own 92.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on NTAP. Morgan Stanley upped their price objective on shares of NetApp from $127.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday. JPMorgan Chase & Co. increased their price objective on NetApp from $146.00 to $147.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Oppenheimer started coverage on NetApp in a research report on Wednesday, November 13th. They set a “market perform” rating for the company. Northland Securities upped their target price on NetApp from $108.00 to $120.00 and gave the stock a “market perform” rating in a research report on Friday. Finally, Barclays lifted their price target on NetApp from $116.00 to $119.00 and gave the company an “equal weight” rating in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, NetApp has an average rating of “Hold” and an average target price of $132.25.

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.