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

NetApp, Inc. (NASDAQ:NTAP) CAO Lorenzo Daniel De sold 326 shares of the stock in a transaction that occurred on 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 legal filing with the SEC, which is available through the SEC website.

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

NetApp Price Performance

NASDAQ:NTAP traded up $2.86 on Tuesday, reaching $122.20. The stock had a trading volume of 2,545,240 shares, compared to its average volume of 1,809,838. The company has a market capitalization of $25.02 billion, a P/E ratio of 23.24, a price-to-earnings-growth ratio of 3.01 and a beta of 1.24. The stock has a fifty day moving average price of $121.26 and a 200-day moving average price of $122.23. 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 1-year low of $77.08 and a 1-year high of $135.01.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, August 28th. The data storage provider reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.11. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. NetApp had a net margin of 17.01% and a return on equity of 121.41%. NetApp’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.84 EPS. Research analysts forecast that NetApp, Inc. will post 5.71 EPS for the current year.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Friday, October 4th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend was Friday, October 4th. NetApp’s dividend payout ratio is currently 40.63%.

Institutional Investors Weigh In On NetApp

Hedge funds have recently modified their holdings of the business. Blair William & Co. IL boosted its holdings in NetApp by 11.4% during the first quarter. Blair William & Co. IL now owns 19,411 shares of the data storage provider’s stock worth $2,038,000 after purchasing an additional 1,990 shares during the last quarter. Bessemer Group Inc. raised its holdings in 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 acquiring an additional 5,273 shares in the last quarter. Lake Street Advisors Group LLC acquired a new position in shares of NetApp during the 1st quarter worth approximately $208,000. National Bank of Canada FI raised its stake in shares of NetApp by 221.9% during the 1st quarter. National Bank of Canada FI now owns 301,699 shares of the data storage provider’s stock worth $32,731,000 after purchasing an additional 207,968 shares in the last quarter. Finally, Pitcairn Co. boosted its holdings in shares of NetApp by 18.3% in the 1st quarter. Pitcairn Co. now owns 9,486 shares of the data storage provider’s stock valued at $996,000 after buying an additional 1,466 shares during the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Evercore ISI upped their target price on NetApp from $120.00 to $130.00 and gave the company an “in-line” rating in a report on Monday, August 12th. Stifel Nicolaus increased their price target on shares of NetApp from $138.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. lifted their price objective on NetApp from $146.00 to $147.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Bank of America raised their price target on NetApp from $105.00 to $110.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Finally, Barclays increased their price objective on NetApp from $116.00 to $119.00 and gave the company an “equal weight” rating in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, NetApp presently has an average rating of “Hold” and an average target price of $129.06.

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.