NetApp Inc. (NASDAQ:NTAP) SVP Matthew K. Fawcett Sells 38,195 Shares

NetApp Inc. (NASDAQ:NTAP) SVP Matthew K. Fawcett sold 38,195 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $61.55, for a total value of $2,350,902.25. Following the completion of the transaction, the senior vice president now owns 38,527 shares of the company’s stock, valued at $2,371,336.85. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Shares of NetApp stock traded down $0.50 on Thursday, reaching $58.82. The company’s stock had a trading volume of 1,750,108 shares, compared to its average volume of 2,651,746. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.45 and a quick ratio of 1.42. The business has a 50-day simple moving average of $61.11. The firm has a market capitalization of $14.15 billion, a P/E ratio of 14.63, a P/E/G ratio of 0.92 and a beta of 1.46. NetApp Inc. has a 52-week low of $54.50 and a 52-week high of $88.08.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Wednesday, May 22nd. The data storage provider reported $1.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.13 by ($0.03). The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.64 billion. NetApp had a return on equity of 71.66% and a net margin of 19.02%. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period last year, the firm posted $1.05 EPS. Research analysts expect that NetApp Inc. will post 4.38 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be given a $0.48 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.92 dividend on an annualized basis and a yield of 3.26%. This is an increase from NetApp’s previous quarterly dividend of $0.40. NetApp’s payout ratio is currently 47.76%.

NTAP has been the topic of several recent research reports. Goldman Sachs Group upgraded Lenovo Group from a “neutral” rating to a “buy” rating in a report on Thursday, May 23rd. They noted that the move was a valuation call. Bank of America set a $30.00 target price on L Brands and gave the stock a “hold” rating in a research note on Thursday, May 23rd. DA Davidson lowered Avon Products from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $4.75 to $3.60 in a research note on Thursday, May 23rd. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of in a research note on Tuesday, June 25th. Finally, ValuEngine downgraded Intersect ENT from a “buy” rating to a “hold” rating in a research report on Monday, June 3rd. Six analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the stock. NetApp currently has an average rating of “Hold” and an average target price of $73.35.

A number of large investors have recently bought and sold shares of the business. Foundry Partners LLC raised its position in NetApp by 13.1% in the second quarter. Foundry Partners LLC now owns 3,674 shares of the data storage provider’s stock valued at $227,000 after purchasing an additional 425 shares during the period. NuWave Investment Management LLC increased its holdings in NetApp by 4,541.2% during the 2nd quarter. NuWave Investment Management LLC now owns 2,367 shares of the data storage provider’s stock worth $146,000 after purchasing an additional 2,316 shares during the period. Fox Run Management L.L.C. purchased a new stake in NetApp during the 2nd quarter worth about $426,000. NEXT Financial Group Inc acquired a new position in shares of NetApp during the 2nd quarter worth about $49,000. Finally, CWM Advisors LLC boosted its position in shares of NetApp by 13.1% during the 2nd quarter. CWM Advisors LLC now owns 4,465 shares of the data storage provider’s stock worth $276,000 after acquiring an additional 518 shares in the last quarter. Institutional investors own 99.25% of the company’s stock.

NetApp Company Profile

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.

Further Reading: Preferred Stock

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

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