NetApp (NASDAQ:NTAP) CAO Sells $33,000.00 in Stock

NetApp, Inc. (NASDAQ:NTAP) CAO Lorenzo Daniel De sold 275 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $120.00, for a total value of $33,000.00. Following the completion of the sale, the chief accounting officer owned 1,090 shares of the company’s stock, valued at approximately $130,800. This represents a 20.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

NetApp Stock Down 1.3%

Shares of NTAP traded down $1.62 during trading hours on Wednesday, hitting $118.97. The stock had a trading volume of 1,828,248 shares, compared to its average volume of 2,355,972. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.39 and a quick ratio of 1.36. The firm has a 50 day simple moving average of $105.97 and a 200-day simple moving average of $106.50. The firm has a market capitalization of $23.48 billion, a P/E ratio of 19.89, a price-to-earnings-growth ratio of 3.42 and a beta of 1.28. NetApp, Inc. has a 1-year low of $93.69 and a 1-year high of $126.66.

NetApp (NASDAQ:NTAP) last issued its earnings results on Thursday, February 26th. The data storage provider reported $2.12 EPS for the quarter, beating the consensus estimate of $2.07 by $0.05. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.70 billion. NetApp had a return on equity of 118.11% and a net margin of 18.07%.The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the business posted $1.91 EPS. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. Sell-side analysts predict that NetApp, Inc. will post 6.48 EPS for the current fiscal year.

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 22nd. Shareholders of record on Friday, April 3rd were paid a dividend of $0.52 per share. The ex-dividend date was Thursday, April 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 1.7%. NetApp’s payout ratio is 34.78%.

Hedge Funds Weigh In On NetApp

Hedge funds have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. boosted its stake in shares of NetApp by 38.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider’s stock worth $67,000 after buying an additional 210 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in shares of NetApp in the 2nd quarter worth approximately $315,000. Cerity Partners LLC boosted its stake in shares of NetApp by 9.9% in the 2nd quarter. Cerity Partners LLC now owns 46,792 shares of the data storage provider’s stock worth $4,986,000 after buying an additional 4,232 shares during the last quarter. Bank of Nova Scotia boosted its stake in shares of NetApp by 7.3% in the 2nd quarter. Bank of Nova Scotia now owns 24,301 shares of the data storage provider’s stock worth $2,589,000 after buying an additional 1,662 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its stake in shares of NetApp by 12.7% in the 2nd quarter. NewEdge Advisors LLC now owns 20,161 shares of the data storage provider’s stock worth $2,148,000 after buying an additional 2,277 shares during the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NTAP. Weiss Ratings downgraded NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 13th. Wedbush reiterated a “neutral” rating and set a $115.00 price target on shares of NetApp in a research note on Wednesday, February 25th. Citigroup downgraded NetApp from a “neutral” rating to a “mixed” rating in a research note on Thursday, May 14th. JPMorgan Chase & Co. downgraded NetApp from an “overweight” rating to a “neutral” rating and cut their price target for the company from $125.00 to $110.00 in a research note on Thursday, April 16th. Finally, Wall Street Zen downgraded NetApp from a “buy” rating to a “hold” rating in a research note on Sunday, April 19th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $122.27.

About NetApp

NetApp, Inc (NASDAQ: NTAP) is a data management and storage company that delivers hybrid cloud data services for applications and data. Founded in 1992 as Network Appliance and rebranded as NetApp in 2008, the company is headquartered in Sunnyvale, California. NetApp’s offering focuses on enabling organizations to store, manage, protect and move data across on-premises environments and major public clouds.

The company’s product portfolio centers on the ONTAP data management software and a range of storage systems and services built around it.