Insider Selling: NetApp, Inc. (NASDAQ:NTAP) EVP Sells 528 Shares of Stock

NetApp, Inc. (NASDAQ:NTAP) EVP Elizabeth M. O’callahan sold 528 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $92.58, for a total transaction of $48,882.24. Following the completion of the sale, the executive vice president now directly owns 12,900 shares in the company, valued at approximately $1,194,282. The trade was a 3.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

NetApp Stock Performance

Shares of NetApp stock opened at $91.49 on Thursday. NetApp, Inc. has a fifty-two week low of $90.08 and a fifty-two week high of $135.45. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. The firm has a market capitalization of $18.61 billion, a P/E ratio of 16.82, a P/E/G ratio of 2.45 and a beta of 1.24. The company’s 50 day moving average price is $115.94 and its two-hundred day moving average price is $119.69.

NetApp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be given a $0.52 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a yield of 2.27%. NetApp’s dividend payout ratio is currently 38.52%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Citigroup lowered their price target on shares of NetApp from $135.00 to $110.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Wedbush reissued a “neutral” rating and issued a $110.00 price target (down from $120.00) on shares of NetApp in a report on Friday, February 28th. Northland Securities increased their price target on shares of NetApp from $108.00 to $120.00 and gave the company a “market perform” rating in a report on Friday, November 22nd. Stifel Nicolaus increased their price target on shares of NetApp from $140.00 to $145.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Finally, Susquehanna cut shares of NetApp from a “positive” rating to a “neutral” rating and lowered their price target for the company from $155.00 to $130.00 in a report on Monday, February 10th. Twelve investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, NetApp has an average rating of “Hold” and an average target price of $129.07.

Institutional Trading of NetApp

Hedge funds have recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of NetApp during the fourth quarter valued at $26,000. Assetmark Inc. raised its stake in shares of NetApp by 826.9% during the fourth quarter. Assetmark Inc. now owns 241 shares of the data storage provider’s stock valued at $28,000 after acquiring an additional 215 shares during the last quarter. Synergy Investment Management LLC bought a new position in shares of NetApp during the fourth quarter valued at $32,000. Itau Unibanco Holding S.A. raised its stake in shares of NetApp by 929.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 278 shares of the data storage provider’s stock valued at $32,000 after acquiring an additional 251 shares during the last quarter. Finally, Golden State Wealth Management LLC bought a new position in shares of NetApp during the fourth quarter valued at $35,000. 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.