NetApp Inc. (NASDAQ:NTAP) – Equities research analysts at Oppenheimer issued their Q1 2021 earnings per share estimates for NetApp in a research report issued on Wednesday, August 14th. Oppenheimer analyst G. Iwanyc anticipates that the data storage provider will post earnings of $0.76 per share for the quarter. Oppenheimer also issued estimates for NetApp’s Q2 2021 earnings at $0.89 EPS, Q3 2021 earnings at $1.04 EPS and Q4 2021 earnings at $1.15 EPS.
NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Wednesday, August 14th. The data storage provider reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.19. NetApp had a return on equity of 77.11% and a net margin of 16.74%. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the business earned $1.04 earnings per share. The business’s revenue was down 16.1% on a year-over-year basis.
Shares of NetApp stock opened at $46.09 on Monday. The stock’s 50-day simple moving average is $54.88 and its 200-day simple moving average is $63.89. NetApp has a 52 week low of $44.55 and a 52 week high of $88.08. The company has a market capitalization of $11.17 billion, a price-to-earnings ratio of 11.47, a PEG ratio of 1.08 and a beta of 1.48. The company has a quick ratio of 1.39, a current ratio of 1.42 and a debt-to-equity ratio of 1.33.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. First Interstate Bank increased its stake in NetApp by 15.0% during the first quarter. First Interstate Bank now owns 1,130 shares of the data storage provider’s stock worth $78,000 after acquiring an additional 147 shares during the last quarter. Destination Wealth Management boosted its position in shares of NetApp by 53.3% during the first quarter. Destination Wealth Management now owns 460 shares of the data storage provider’s stock valued at $32,000 after buying an additional 160 shares during the period. Commerce Bank boosted its position in shares of NetApp by 1.3% during the first quarter. Commerce Bank now owns 13,951 shares of the data storage provider’s stock valued at $967,000 after buying an additional 183 shares during the period. Wetherby Asset Management Inc. boosted its position in shares of NetApp by 6.1% during the first quarter. Wetherby Asset Management Inc. now owns 4,032 shares of the data storage provider’s stock valued at $280,000 after buying an additional 231 shares during the period. Finally, Parallel Advisors LLC boosted its position in shares of NetApp by 83.8% during the first quarter. Parallel Advisors LLC now owns 509 shares of the data storage provider’s stock valued at $35,000 after buying an additional 232 shares during the period. 93.62% of the stock is currently owned by institutional investors.
In other news, VP Joel D. Reich sold 23,650 shares of NetApp stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $61.49, for a total value of $1,454,238.50. Following the sale, the vice president now directly owns 16,212 shares of the company’s stock, valued at $996,875.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Joel D. Reich sold 30,000 shares of NetApp stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $60.59, for a total value of $1,817,700.00. Following the completion of the sale, the vice president now directly owns 55,361 shares in the company, valued at $3,354,322.99. The disclosure for this sale can be found here. Insiders sold 161,092 shares of company stock worth $9,676,120 over the last ninety days. Insiders own 0.33% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Friday, October 4th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.92 annualized dividend and a dividend yield of 4.17%. NetApp’s dividend payout ratio (DPR) is 47.76%.
NetApp, Inc provides software, systems, and services to manage and share data on-premises, and private and public clouds worldwide. It offers cloud data services, such as ONTAP cloud storage data management and NetApp cloud sync data synchronization services; NetApp SaaS backup for Microsoft Office 365; NetApp cloud backup solutions; OnCommand management software and management integration tools; and NetApp private storage for cloud.
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