NetApp, Inc. (NASDAQ:NTAP – Get Free Report) EVP Elizabeth O’callahan sold 1,000 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $117.73, for a total value of $117,730.00. Following the completion of the sale, the executive vice president directly owned 18,382 shares of the company’s stock, valued at $2,164,112.86. The trade was a 5.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
NetApp Stock Up 2.0%
Shares of NetApp stock traded up $2.35 during trading on Wednesday, reaching $118.58. The company’s stock had a trading volume of 2,122,227 shares, compared to its average volume of 2,331,554. The company has a quick ratio of 1.36, a current ratio of 1.39 and a debt-to-equity ratio of 2.15. The company has a market cap of $23.40 billion, a price-to-earnings ratio of 19.83, a P/E/G ratio of 3.33 and a beta of 1.28. NetApp, Inc. has a 1-year low of $93.69 and a 1-year high of $126.66. The company has a 50-day simple moving average of $104.02 and a two-hundred day simple moving average of $106.37.
NetApp (NASDAQ:NTAP – Get Free Report) last issued its earnings results on Thursday, February 26th. The data storage provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.05. The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.70 billion. NetApp had a return on equity of 118.11% and a net margin of 18.07%.The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the business posted $1.91 EPS. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. As a group, equities analysts forecast that NetApp, Inc. will post 6.48 earnings per share for the current year.
NetApp Announces Dividend
Hedge Funds Weigh In On NetApp
A number of institutional investors have recently modified their holdings of the stock. Arvest Bank Trust Division purchased a new position in shares of NetApp during the 1st quarter valued at about $3,071,000. First Trust Advisors LP raised its stake in shares of NetApp by 127.0% during the 1st quarter. First Trust Advisors LP now owns 3,658,066 shares of the data storage provider’s stock valued at $374,549,000 after buying an additional 2,046,912 shares during the last quarter. ABN Amro Investment Solutions raised its stake in shares of NetApp by 2.5% during the 1st quarter. ABN Amro Investment Solutions now owns 28,785 shares of the data storage provider’s stock valued at $2,947,000 after buying an additional 702 shares during the last quarter. Oslo Pensjonsforsikring AS purchased a new position in shares of NetApp during the 1st quarter valued at about $126,000. Finally, Johnson Financial Group Inc. increased its stake in shares of NetApp by 79.0% in the 1st quarter. Johnson Financial Group Inc. now owns 3,331 shares of the data storage provider’s stock valued at $341,000 after purchasing an additional 1,470 shares in the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on NTAP. The Goldman Sachs Group began coverage on NetApp in a research note on Tuesday, January 13th. They issued a “buy” rating and a $128.00 target price for the company. Weiss Ratings lowered NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 13th. Wall Street Zen lowered NetApp from a “buy” rating to a “hold” rating in a research note on Sunday, April 19th. Wedbush restated a “neutral” rating and issued a $115.00 target price on shares of NetApp in a research note on Wednesday, February 25th. Finally, Citigroup lifted their price objective on NetApp from $110.00 to $114.00 and gave the company a “neutral” rating in a research note on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $122.64.
Check Out Our Latest Stock Report on NTAP
About NetApp
NetApp, Inc (NASDAQ: NTAP) is a data management and storage company that delivers hybrid cloud data services for applications and data. Founded in 1992 as Network Appliance and rebranded as NetApp in 2008, the company is headquartered in Sunnyvale, California. NetApp’s offering focuses on enabling organizations to store, manage, protect and move data across on-premises environments and major public clouds.
The company’s product portfolio centers on the ONTAP data management software and a range of storage systems and services built around it.
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