15,491 Shares in NetApp, Inc. $NTAP Acquired by Entropy Technologies LP

Key Points

• Entropy Technologies LP opened a new position in NetApp during the fourth quarter, buying 15,491 shares worth about $1.66 million.
• NetApp’s latest quarterly results showed EPS of $2.03, missing analyst expectations, but revenue came in at $1.95 billion, above estimates and up 12.5% year over year.
• The company announced a quarterly dividend of $0.52 per share, and Wall Street remains cautious overall with an average Hold rating and a consensus price target of $169.33.

Entropy Technologies LP acquired a new position in NetApp, Inc. (NASDAQ:NTAP - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 15,491 shares of the data storage provider's stock, valued at approximately $1,659,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. Abich Financial Wealth Management LLC purchased a new stake in NetApp during the 3rd quarter valued at $27,000. Rossby Financial LCC raised its stake in NetApp by 105.5% during the 3rd quarter. Rossby Financial LCC now owns 224 shares of the data storage provider's stock valued at $27,000 after buying an additional 115 shares during the last quarter. Park Square Financial Group LLC raised its stake in NetApp by 68.7% during the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider's stock valued at $29,000 after buying an additional 103 shares during the last quarter. Gen Wealth Partners Inc purchased a new stake in NetApp during the 4th quarter valued at $30,000. Finally, JFS Wealth Advisors LLC raised its stake in NetApp by 176.3% during the 4th quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider's stock valued at $34,000 after buying an additional 201 shares during the last quarter. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Elizabeth M. O'callahan sold 1,000 shares of the firm's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $117.73, for a total transaction of $117,730.00. Following the completion of the transaction, the executive vice president owned 18,382 shares in the company, valued at $2,164,112.86. This trade represents a 5.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Lorenzo Daniel De sold 275 shares of the business's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $120.00, for a total value of $33,000.00. Following the completion of the sale, the chief accounting officer owned 1,090 shares in the company, valued at $130,800. This represents a 20.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,500 shares of company stock valued at $448,955 in the last three months. Insiders own 0.28% of the company's stock.

NetApp Stock Up 0.1%

NASDAQ NTAP opened at $161.82 on Tuesday. NetApp, Inc. has a 12 month low of $93.69 and a 12 month high of $192.83. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 1.84. The stock has a market cap of $31.70 billion, a PE ratio of 25.44, a P/E/G ratio of 2.95 and a beta of 1.44. The stock's 50 day moving average is $127.09 and its 200 day moving average is $112.64.

NetApp (NASDAQ:NTAP - Get Free Report) last released its quarterly earnings data on Thursday, May 28th. The data storage provider reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.24). NetApp had a net margin of 18.43% and a return on equity of 117.23%. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the business earned $1.93 EPS. The company's quarterly revenue was up 12.5% on a year-over-year basis. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. Research analysts predict that NetApp, Inc. will post 7.16 EPS for the current fiscal year.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, July 10th. NetApp's dividend payout ratio is 32.70%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on NTAP shares. Susquehanna boosted their target price on shares of NetApp from $110.00 to $185.00 and gave the company a "neutral" rating in a research note on Friday, May 29th. Wedbush boosted their target price on shares of NetApp from $115.00 to $150.00 and gave the company a "neutral" rating in a research note on Friday, May 29th. Bank of America boosted their target price on shares of NetApp from $125.00 to $150.00 and gave the company a "neutral" rating in a research note on Friday, May 29th. Morgan Stanley boosted their price objective on shares of NetApp from $88.00 to $137.00 and gave the company an "underweight" rating in a research report on Friday, May 29th. Finally, Citigroup boosted their price objective on shares of NetApp from $114.00 to $150.00 and gave the company a "neutral" rating in a research report on Friday, May 29th. Five research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $169.33.

About NetApp

NetApp, Inc NASDAQ: NTAP is a data management and storage company that delivers hybrid cloud data services for applications and data. Founded in 1992 as Network Appliance and rebranded as NetApp in 2008, the company is headquartered in Sunnyvale, California. NetApp's offering focuses on enabling organizations to store, manage, protect and move data across on-premises environments and major public clouds.

The company's product portfolio centers on the ONTAP data management software and a range of storage systems and services built around it.

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