Insider Selling: NetApp (NASDAQ:NTAP) EVP Sells $184,740.00 in Stock

by · The Markets Daily

NetApp, Inc. (NASDAQ:NTAP – Get Free Report) EVP Elizabeth O’callahan sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $184.74, for a total transaction of $184,740.00. Following the completion of the sale, the executive vice president directly owned 30,737 shares in the company, valued at $5,678,353.38. This trade represents a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

NetApp Stock Performance

Shares of NTAP stock opened at $191.49 on Thursday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.16 and a current ratio of 1.24. The firm has a market cap of $37.61 billion, a P/E ratio of 27.01, a P/E/G 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 one year low of $93.69 and a one year high of $209.06.

NetApp (NASDAQ:NTAP – Get Free Report) last announced its earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.46. NetApp had a return on equity of 119.13% and a net margin of 19.18%.The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the previous year, the company earned $1.15 earnings per share. The firm’s quarterly revenue 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. As a group, equities research analysts predict that NetApp, Inc. will post 8.32 EPS for the current year.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Friday, October 9th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, October 9th. NetApp’s dividend payout ratio (DPR) is 29.34%.

Key Stories Impacting NetApp

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.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NTAP. Citigroup reduced their price target on shares of NetApp from $209.00 to $190.00 and set a “neutral” rating on the stock in a research report on Thursday, September 3rd. Northland Securities increased their target price on shares of NetApp from $171.00 to $187.00 and gave the stock an “outperform” rating in a report on Thursday, September 3rd. TD Cowen restated a “buy” rating and issued a $200.00 price target on shares of NetApp in a research note on Thursday, September 3rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of NetApp in a research note on Friday, September 4th. Finally, Wedbush increased their price target on NetApp from $150.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $193.86.

View Our Latest Stock Report on NTAP

Hedge Funds Weigh In On NetApp

Institutional investors and hedge funds have recently modified their holdings of the company. West Financial Advisors LLC acquired a new stake in NetApp in the second quarter valued at $37,000. Park Square Financial Group LLC increased its holdings in shares of NetApp by 68.7% in the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock valued at $29,000 after acquiring an additional 103 shares during the last quarter. Roble Belko & Company Inc acquired a new stake in shares of NetApp during the 1st quarter worth about $31,000. Elyxium Wealth LLC acquired a new stake in shares of NetApp during the 4th quarter worth about $35,000. Finally, Bell Investment Advisors Inc purchased a new stake in NetApp during the second quarter worth approximately $55,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

NetApp Company Profile

(Get Free Report)

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.

Further Reading