Henri P. Richard Sells 1,976 Shares of NetApp, Inc. (NTAP) Stock
NetApp, Inc. (NASDAQ:NTAP) EVP Henri P. Richard sold 1,976 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $44.62, for a total value of $88,169.12. Following the completion of the transaction, the executive vice president now directly owns 13,860 shares in the company, valued at $618,433.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
NetApp, Inc. (NASDAQ:NTAP) traded down $0.29 during mid-day trading on Friday, reaching $44.24. 2,057,754 shares of the company’s stock were exchanged, compared to its average volume of 2,342,978. The company has a market cap of $11.94 billion, a price-to-earnings ratio of 18.59, a P/E/G ratio of 1.55 and a beta of 1.16. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27.
NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Wednesday, August 16th. The data storage provider reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.07. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.32 billion. NetApp had a net margin of 10.47% and a return on equity of 24.13%. The business’s revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.46 EPS. analysts predict that NetApp, Inc. will post 2.49 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Friday, October 6th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.81%. NetApp’s dividend payout ratio is currently 38.65%.
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NTAP has been the topic of several research reports. Morgan Stanley reissued an “underweight” rating on shares of NetApp in a research report on Saturday, September 23rd. ValuEngine downgraded NetApp from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Zacks Investment Research downgraded NetApp from a “buy” rating to a “hold” rating in a research report on Thursday, October 5th. Goldman Sachs Group, Inc. (The) raised 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. Finally, Argus raised NetApp from a “hold” rating to a “buy” rating in a research report on Monday, August 21st. Two equities research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and thirteen have issued a buy rating to the stock. NetApp currently has an average rating of “Hold” and an average target price of $45.12.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of NetApp by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 27,214,474 shares of the data storage provider’s stock worth $1,089,939,000 after buying an additional 481,365 shares during the last quarter. BlackRock Inc. increased its holdings in shares of NetApp by 7.5% during the 2nd quarter. BlackRock Inc. now owns 21,648,037 shares of the data storage provider’s stock worth $867,006,000 after buying an additional 1,517,967 shares during the last quarter. Boston Partners acquired a new stake in shares of NetApp during the 3rd quarter worth approximately $315,629,000. Renaissance Technologies LLC increased its holdings in shares of NetApp by 781.1% during the 2nd quarter. Renaissance Technologies LLC now owns 3,339,574 shares of the data storage provider’s stock worth $133,750,000 after buying an additional 2,960,542 shares during the last quarter. Finally, APG Asset Management N.V. increased its holdings in shares of NetApp by 22.9% during the 3rd quarter. APG Asset Management N.V. now owns 3,046,414 shares of the data storage provider’s stock worth $133,311,000 after buying an additional 567,300 shares during the last quarter. Institutional investors and hedge funds own 92.81% of the company’s stock.
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.
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