NetApp (NASDAQ:NTAP) CAO Lorenzo Daniel De Sells 779 Shares

NetApp, Inc. (NASDAQ:NTAP) CAO Lorenzo Daniel De sold 779 shares of the business’s stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $121.87, for a total transaction of $94,936.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

NetApp Price Performance

NASDAQ NTAP opened at $118.57 on Tuesday. NetApp, Inc. has a one year low of $71.84 and a one year high of $135.45. The stock has a 50-day moving average of $113.27 and a 200 day moving average of $102.08. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.28 and a current ratio of 1.31. The company has a market capitalization of $23.67 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 2.60 and a beta of 1.46.

NetApp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd will be issued a $0.52 dividend. The ex-dividend date is Friday, October 3rd. This represents a $2.08 annualized dividend and a yield of 1.8%. NetApp’s dividend payout ratio (DPR) is currently 36.75%.

Institutional Investors Weigh In On NetApp

A number of institutional investors and hedge funds have recently bought and sold shares of NTAP. Norges Bank purchased a new stake in NetApp in the 2nd quarter worth $281,093,000. Boston Partners increased its holdings in shares of NetApp by 108.9% in the second quarter. Boston Partners now owns 2,947,200 shares of the data storage provider’s stock worth $313,997,000 after purchasing an additional 1,536,339 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of NetApp by 4,687.6% in the first quarter. Pacer Advisors Inc. now owns 1,068,694 shares of the data storage provider’s stock worth $93,874,000 after purchasing an additional 1,046,372 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of NetApp by 16.8% in the second quarter. Geode Capital Management LLC now owns 7,112,316 shares of the data storage provider’s stock worth $756,665,000 after purchasing an additional 1,024,626 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its stake in NetApp by 1,230.3% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,007,591 shares of the data storage provider’s stock worth $107,359,000 after acquiring an additional 931,850 shares during the last quarter. 92.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Argus restated a “buy” rating and issued a $130.00 target price on shares of NetApp in a report on Friday, August 29th. Citigroup raised their target price on shares of NetApp from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Monday, August 11th. Wedbush restated a “neutral” rating and issued a $150.00 target price on shares of NetApp in a report on Thursday, August 28th. Northland Securities raised their target price on shares of NetApp from $119.00 to $120.00 and gave the stock a “market perform” rating in a report on Thursday, August 28th. Finally, Barclays raised their target price on shares of NetApp from $117.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Seven investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $124.07.

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.