12,328 Shares of NetApp, Inc. $NTAP Purchased by IPG Investment Advisors LLC

Key Points

• IPG Investment Advisors bought a new 12,328-share position in NetApp during the third quarter, valued at approximately $2.59 million. Institutional investors collectively own 92.17% of the company’s stock.
• NetApp reported quarterly EPS of $2.58, beating the $2.12 consensus, while revenue of $2.02 billion topped expectations and rose 29.9% year over year. The company also issued fiscal 2027 EPS guidance of $9.73–$10.03.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $205.24. NetApp’s quarterly dividend is $0.52 per share, equivalent to a 1.1% annual yield.

IPG Investment Advisors LLC bought a new position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,328 shares of the data storage provider's stock, valued at approximately $2,590,000.

A number of other large investors also recently bought and sold shares of NTAP. West Financial Advisors LLC acquired a new position in shares of NetApp in the 2nd quarter valued at about $37,000. Fortitude Family Office LLC raised its stake in shares of NetApp by 56.9% during the third quarter. Fortitude Family Office LLC now owns 204 shares of the data storage provider's stock valued at $43,000 after purchasing an additional 74 shares during the period. Bell Investment Advisors Inc purchased a new stake in shares of NetApp during the second quarter valued at approximately $55,000. Elevation Wealth Partners LLC lifted its position in shares of NetApp by 90.8% during the third quarter. Elevation Wealth Partners LLC now owns 292 shares of the data storage provider's stock worth $61,000 after purchasing an additional 139 shares in the last quarter. Finally, Compass Financial Management LLC purchased a new position in NetApp in the second quarter valued at about $70,000. Hedge funds and other institutional investors own 92.17% of the company's stock.

NetApp Stock Performance

Shares of NASDAQ NTAP opened at $190.78 on Wednesday. NetApp, Inc. has a 12-month low of $93.69 and a 12-month high of $240.87. The company has a market cap of $37.47 billion, a PE ratio of 26.91, a P/E/G ratio of 1.99 and a beta of 1.52. The stock has a 50 day simple moving average of $205.11 and a 200-day simple moving average of $150.83. The company has a current ratio of 1.24, a quick ratio of 1.16 and a debt-to-equity ratio of 1.30.

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 the consensus estimate of $2.12 by $0.46. The firm had revenue of $2.02 billion for the quarter, compared to analysts' expectations of $1.84 billion. NetApp had a return on equity of 119.13% and a net margin of 19.18%. The firm's revenue was up 29.9% compared to the same quarter last year. During the same period last year, the firm earned $1.15 EPS. 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, equities research analysts forecast that NetApp, Inc. will post 8.32 EPS for the current year.

NetApp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 28th. Stockholders of record on Friday, October 9th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, October 9th. NetApp's dividend payout ratio (DPR) is 29.34%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NTAP shares. Argus set a $225.00 target price on shares of NetApp and gave the stock a "buy" rating in a research report on Friday, September 11th. Zacks Research upgraded NetApp from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 9th. Loop Capital set a $300.00 target price on NetApp in a research note on Wednesday, October 7th. Daiwa Securities Group upped their price target on shares of NetApp from $180.00 to $210.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 16th. Finally, Northland Securities increased their price objective on shares of NetApp from $171.00 to $187.00 and gave the stock an "outperform" rating in a report on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $205.24.

Insider Buying and Selling at NetApp

In related news, EVP Elizabeth O'Callahan sold 1,000 shares of NetApp stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $237.42, for a total transaction of $237,420.00. Following the sale, the executive vice president directly owned 29,737 shares in the company, valued at $7,060,158.54. The trade was a 3.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO George Kurian sold 10,000 shares of the company's stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $210.04, for a total transaction of $2,100,400.00. Following the completion of the sale, the chief executive officer directly owned 208,537 shares of the company's stock, valued at $43,801,111.48. The trade was a 4.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 173,524 shares of company stock valued at $35,018,126. 0.36% of the stock is currently owned by insiders.

NetApp Company Profile

NetApp, Inc is a data infrastructure and cloud storage company that helps organizations manage, protect and access data across on-premises data centers, public clouds and hybrid environments. Its offerings support enterprise applications, artificial intelligence workloads, business analytics, backup and disaster recovery.

The company's portfolio includes all-flash and hybrid-flash storage systems, the ONTAP data management operating system, StorageGRID object storage and Keystone storage-as-a-service.

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