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 company’s stock in a transaction that occurred on Monday, November 18th. The shares were 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 Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $123.60, for a total value of $208,266.00.

NetApp Stock Up 1.0 %

NetApp stock opened at $123.45 on Thursday. The company’s 50-day moving average price is $121.56 and its two-hundred day moving average price is $122.36. The stock has a market cap of $25.28 billion, a price-to-earnings ratio of 24.11, a PEG ratio of 3.13 and a beta of 1.24. NetApp, Inc. has a 52 week low of $77.30 and a 52 week 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.

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

NetApp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Friday, October 4th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend was Friday, October 4th. NetApp’s payout ratio is 40.63%.

Analyst Ratings Changes

Several research firms have recently commented on NTAP. Citigroup upped their price target on NetApp from $120.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Barclays boosted their price target on NetApp from $116.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 29th. Loop Capital upgraded shares of NetApp from a “hold” rating to a “buy” rating and raised their target price for the company from $121.00 to $150.00 in a report on Tuesday, September 3rd. JPMorgan Chase & Co. raised their price target on NetApp from $146.00 to $147.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Finally, Stifel Nicolaus boosted their price objective 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. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, NetApp has a consensus rating of “Hold” and a consensus target price of $129.06.

Hedge Funds Weigh In On NetApp

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Blair William & Co. IL increased its position in shares of NetApp by 11.4% in the first quarter. Blair William & Co. IL now owns 19,411 shares of the data storage provider’s stock worth $2,038,000 after acquiring an additional 1,990 shares in the last quarter. Bessemer Group Inc. grew its position in NetApp by 46.1% during the 1st quarter. Bessemer Group Inc. now owns 16,720 shares of the data storage provider’s stock worth $1,754,000 after purchasing an additional 5,273 shares in the last quarter. Lake Street Advisors Group LLC acquired a new stake in NetApp during the 1st quarter valued at $208,000. National Bank of Canada FI boosted its position in shares of NetApp by 221.9% in the first quarter. National Bank of Canada FI now owns 301,699 shares of the data storage provider’s stock worth $32,731,000 after buying an additional 207,968 shares during the period. Finally, Pitcairn Co. boosted its position in shares of NetApp by 18.3% in the first quarter. Pitcairn Co. now owns 9,486 shares of the data storage provider’s stock worth $996,000 after buying an additional 1,466 shares during the period. Institutional investors and hedge funds own 92.17% of the company’s stock.

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.