NetApp, Inc. (NASDAQ:NTAP – Get Free Report) CEO George Kurian sold 40,000 shares of the stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $191.42, for a total transaction of $7,656,800.00. Following the sale, the chief executive officer directly owned 318,537 shares of the company’s stock, valued at approximately $60,974,352.54. The trade was a 11.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
NetApp Stock Up 0.8%
Shares of NetApp stock opened at $191.49 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.24 and a debt-to-equity ratio of 1.30. The company has a market cap of $37.61 billion, a P/E ratio of 27.01, a PEG ratio of 2.04 and a beta of 1.44. The firm’s 50 day moving average price is $183.59 and its 200-day moving average price is $146.09. NetApp, Inc. has a 52-week low of $93.69 and a 52-week high of $209.06.
NetApp (NASDAQ:NTAP – Get Free Report) last posted its earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.46. NetApp had a net margin of 19.18% and a return on equity of 119.13%. The company had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the prior year, the company posted $1.15 earnings per share. NetApp’s revenue for the quarter was up 29.9% compared to the same quarter last year. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. On average, sell-side analysts predict that NetApp, Inc. will post 8.32 EPS for the current fiscal year.
NetApp Dividend Announcement
Wall Street Analysts Forecast Growth
NTAP has been the subject of a number of research analyst reports. The Goldman Sachs Group reiterated a “buy” rating and issued a $210.00 price target on shares of NetApp in a research note on Thursday, September 3rd. Wall Street Zen upgraded shares of NetApp from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 5th. Argus set a $225.00 price objective on shares of NetApp in a research report on Friday, September 11th. Wedbush lifted their target price on shares of NetApp from $150.00 to $170.00 and gave the stock a “neutral” rating in a research note on Thursday, September 3rd. Finally, Morgan Stanley boosted their target price on shares of NetApp from $173.00 to $191.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, NetApp presently has an average rating of “Hold” and an average target price of $193.86.
Read Our Latest Report on NetApp
Key NetApp News
Here are the key news stories impacting NetApp this week:
- Positive Sentiment: NetApp’s latest quarterly results showed substantial momentum: earnings per share of $2.58 exceeded the $2.12 consensus estimate, while revenue of approximately $2.02 billion surpassed expectations of $1.84 billion and increased nearly 30% year over year. The company also issued fiscal 2027 EPS guidance of $9.73 to $10.03.
- Positive Sentiment: An upbeat earnings-call outlook highlighted demand for AI-related infrastructure, cloud services and data management, reinforcing the investment case for NetApp’s growth.
- Positive Sentiment: NetApp announced a partnership with the Tampa Bay Buccaneers, expanding its NFL sponsorship presence and promoting its data, analytics and cloud capabilities. The deal is primarily a branding initiative but could improve visibility with enterprise customers. NetApp and Tampa Bay Buccaneers Partner to Enable Data-Driven Operational Excellence
- Positive Sentiment: Analyst sentiment remains constructive after the earnings report. Barclays raised its price target to $219 with an overweight rating, while Evercore set a $210 target. The broader consensus rating remains Hold, with an average target of $193.86.
- Positive Sentiment: The company declared a quarterly dividend of $0.52 per share, equivalent to $2.08 annually and a yield of about 1.1%, providing continued shareholder income.
- Neutral Sentiment: NetApp’s strong stock performance has lifted its valuation to roughly 27 times earnings. Shares remain above both their 50-day and 200-day moving averages, indicating strong momentum but also leaving less room for disappointment.
- Negative Sentiment: Several insiders sold shares, including CEO George Kurian, who sold 40,000 shares worth approximately $7.7 million, and Director Deepak Ahuja, who sold about $684,000. Additional executive and director sales were also reported. These transactions may create modest sentiment pressure, although the insiders retained significant holdings and the filings do not establish a bearish outlook.
Institutional Trading of NetApp
Several large investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its holdings in shares of NetApp by 2.1% in the fourth quarter. Parallel Advisors LLC now owns 5,007 shares of the data storage provider’s stock valued at $536,000 after buying an additional 101 shares in the last quarter. Assetmark Inc. boosted its stake in shares of NetApp by 3.0% during the 1st quarter. Assetmark Inc. now owns 3,540 shares of the data storage provider’s stock worth $362,000 after acquiring an additional 104 shares in the last quarter. MRWM Advisors LLC boosted its stake in shares of NetApp by 1.8% during the 1st quarter. MRWM Advisors LLC now owns 6,794 shares of the data storage provider’s stock worth $696,000 after acquiring an additional 122 shares in the last quarter. Frank Rimerman Advisors LLC grew its holdings in shares of NetApp by 2.4% in the 1st quarter. Frank Rimerman Advisors LLC now owns 5,578 shares of the data storage provider’s stock worth $571,000 after acquiring an additional 131 shares during the last quarter. Finally, Cozad Asset Management Inc. grew its holdings in shares of NetApp by 7.1% in the 1st quarter. Cozad Asset Management Inc. now owns 2,175 shares of the data storage provider’s stock worth $223,000 after acquiring an additional 145 shares during the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.
NetApp Company Profile
NetApp, Inc (NASDAQ: NTAP) is a data infrastructure and cloud storage company that helps organizations manage, protect and access data across on-premises environments, private clouds and public clouds. Its offerings are designed to support enterprise workloads such as databases, business applications, artificial intelligence and virtualized computing.
The company’s portfolio includes all-flash and hybrid storage systems, cloud storage services, data management software and infrastructure-as-a-service solutions.
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