NetApp, Inc. (NASDAQ:NTAP) EVP Henri P. Richard sold 3,952 shares of the company’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $42.20, for a total value of $166,774.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of NetApp, Inc. (NASDAQ NTAP) traded up 1.00% during midday trading on Thursday, hitting $44.60. The company had a trading volume of 3,926,177 shares. NetApp, Inc. has a 1-year low of $25.68 and a 1-year high of $44.69. The firm has a market capitalization of $12.12 billion, a P/E ratio of 24.64 and a beta of 1.19. The stock has a 50 day moving average price of $39.80 and a 200 day moving average price of $39.75.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Wednesday, May 24th. The data storage provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. NetApp had a net margin of 9.22% and a return on equity of 21.66%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the prior year, the firm earned $0.55 EPS. The business’s revenue was up 7.3% on a year-over-year basis. On average, equities analysts anticipate that NetApp, Inc. will post $3.03 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 26th. Shareholders of record on Friday, July 7th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend is Wednesday, July 5th. This is an increase from NetApp’s previous quarterly dividend of $0.19. NetApp’s dividend payout ratio is 44.20%.

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Several hedge funds have recently made changes to their positions in NTAP. UBS Asset Management Americas Inc. raised its stake in NetApp by 17.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,030,110 shares of the data storage provider’s stock worth $36,332,000 after buying an additional 149,690 shares during the period. Kentucky Retirement Systems purchased a new stake in NetApp during the fourth quarter worth $705,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in NetApp during the fourth quarter worth $314,000. Chevy Chase Trust Holdings Inc. raised its stake in NetApp by 1.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 233,576 shares of the data storage provider’s stock worth $9,776,000 after buying an additional 3,470 shares during the period. Finally, Contravisory Investment Management Inc. raised its stake in NetApp by 27.4% in the first quarter. Contravisory Investment Management Inc. now owns 7,014 shares of the data storage provider’s stock worth $294,000 after buying an additional 1,510 shares during the period. Hedge funds and other institutional investors own 91.24% of the company’s stock.

A number of equities research analysts have commented on NTAP shares. Piper Jaffray Companies set a $50.00 price target on NetApp and gave the company a “buy” rating in a research report on Thursday, April 6th. Drexel Hamilton reiterated a “buy” rating on shares of NetApp in a research report on Monday, April 3rd. Goldman Sachs Group, Inc. (The) upgraded NetApp from a “neutral” rating to a “buy” rating and upped their target price for the company from $46.00 to $47.00 in a research report on Friday, July 14th. BidaskClub upgraded NetApp from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Royal Bank Of Canada restated a “hold” rating on shares of NetApp in a research report on Friday, April 28th. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $41.52.

NetApp Company Profile

NetApp, Inc (NetApp) provides software, systems and services to manage and store customer data. The Company enables enterprises, service providers, governmental organizations, and partners to envision, deploy and evolve their information technology (IT) environments. The Company offers a portfolio of products and services that satisfy a range of customer workloads across different data types and deployment models.

Insider Buying and Selling by Quarter for NetApp (NASDAQ:NTAP)

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