NetApp, Inc. (NASDAQ:NTAP – Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $201.32 and last traded at $200.7830, with a volume of 239311 shares changing hands. The stock had previously closed at $189.52.
Analyst Ratings Changes
Several research analysts have recently commented on the company. Wedbush boosted their price target on NetApp from $115.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Northland Securities lifted their target price on NetApp from $137.00 to $171.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Argus boosted their target price on shares of NetApp from $130.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Wall Street Zen lowered shares of NetApp from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 29th. Finally, Wells Fargo & Company raised their price target on shares of NetApp from $115.00 to $180.00 and gave the company an “equal weight” rating in a report on Friday, May 29th. Five research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $172.33.
Read Our Latest Research Report on NTAP
NetApp Stock Performance
NetApp (NASDAQ:NTAP – Get Free Report) last announced its earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.24). NetApp had a return on equity of 117.23% and a net margin of 18.43%.The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter last year, the firm earned $1.93 earnings per share. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. Research analysts forecast that NetApp, Inc. will post 7.16 earnings per share for the current fiscal year.
NetApp Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 29th. Stockholders of record on Friday, July 10th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, July 10th. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. NetApp’s dividend payout ratio is 32.70%.
Insider Activity
In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $163.48, for a total transaction of $163,480.00. Following the sale, the executive vice president owned 32,297 shares of the company’s stock, valued at approximately $5,279,913.56. The trade was a 3.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Cesar Cernuda sold 49,464 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $154.82, for a total transaction of $7,658,016.48. Following the transaction, the president owned 46,806 shares in the company, valued at $7,246,504.92. The trade was a 51.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 51,964 shares of company stock worth $8,063,912 over the last 90 days. 0.36% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On NetApp
Several institutional investors and hedge funds have recently made changes to their positions in the stock. West Financial Advisors LLC purchased a new position in NetApp in the 2nd quarter worth $37,000. Park Square Financial Group LLC grew its stake in NetApp by 68.7% during the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock valued at $29,000 after purchasing an additional 103 shares during the last quarter. Gen Wealth Partners Inc purchased a new stake in NetApp during the 4th quarter valued at about $30,000. DV Equities LLC acquired a new position in shares of NetApp in the fourth quarter valued at about $30,000. Finally, Measured Wealth Private Client Group LLC acquired a new position in shares of NetApp in the third quarter valued at about $35,000. 92.17% of the stock is currently owned by institutional investors and hedge funds.
NetApp Company Profile
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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