4,033 Shares in NetApp, Inc. $NTAP Bought by MGO One Seven LLC

Key Points

• MGO One Seven LLC acquired 4,033 shares of NetApp, Inc., valued at approximately $430,000, according to a recent 13F filing.
• NetApp reported a quarterly EPS of $1.19, missing the consensus estimate of $1.54, while its revenue increased by 1.2% compared to the same quarter last year.
• The company declared a quarterly dividend of $0.52 per share, representing an annualized yield of 1.7% and a payout ratio of 36.75%.

MGO One Seven LLC acquired a new stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,033 shares of the data storage provider's stock, valued at approximately $430,000.

Several other hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its holdings in shares of NetApp by 62.8% in the 1st quarter. Farther Finance Advisors LLC now owns 1,141 shares of the data storage provider's stock valued at $102,000 after purchasing an additional 440 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in NetApp by 6.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 51,950 shares of the data storage provider's stock valued at $4,563,000 after buying an additional 3,196 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of NetApp by 12.7% in the first quarter. Exchange Traded Concepts LLC now owns 2,311 shares of the data storage provider's stock valued at $203,000 after acquiring an additional 261 shares during the period. Kingswood Wealth Advisors LLC grew its position in shares of NetApp by 29.4% during the first quarter. Kingswood Wealth Advisors LLC now owns 3,837 shares of the data storage provider's stock worth $337,000 after acquiring an additional 872 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its position in shares of NetApp by 28.9% during the first quarter. State of Alaska Department of Revenue now owns 35,029 shares of the data storage provider's stock worth $3,076,000 after acquiring an additional 7,850 shares during the last quarter. Hedge funds and other institutional investors own 92.17% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on NTAP. JPMorgan Chase & Co. upped their price target on shares of NetApp from $115.00 to $130.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Citigroup raised their price target on NetApp from $115.00 to $130.00 and gave the stock a "neutral" rating in a report on Thursday. William Blair restated a "market perform" rating on shares of NetApp in a research report on Thursday. Morgan Stanley set a $117.00 target price on NetApp in a research report on Thursday, August 28th. Finally, Argus reissued a "buy" rating and issued a $130.00 price target on shares of NetApp in a report on Friday, August 29th. Seven equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $122.40.

NetApp Trading Down 0.3%

Shares of NetApp stock opened at $119.07 on Friday. The company has a 50-day moving average of $117.42 and a two-hundred day moving average of $104.68. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $135.45. The company has a current ratio of 1.31, a quick ratio of 1.28 and a debt-to-equity ratio of 2.55. The stock has a market cap of $23.77 billion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 2.59 and a beta of 1.45.

NetApp (NASDAQ:NTAP - Get Free Report) last announced its quarterly earnings results on Wednesday, August 27th. The data storage provider reported $1.19 EPS for the quarter, missing the consensus estimate of $1.54 by ($0.35). NetApp had a return on equity of 123.24% and a net margin of 17.77%.The firm had revenue of $1.56 billion for the quarter, compared to analysts' expectations of $1.54 billion. During the same period last year, the firm earned $1.56 EPS. NetApp's revenue was up 1.2% compared to the same quarter last year. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. On average, research analysts anticipate that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, October 3rd. NetApp's payout ratio is 36.75%.

Insider Buying and Selling

In related news, EVP Elizabeth M. O'callahan sold 1,000 shares of the stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $119.00, for a total value of $119,000.00. Following the sale, the executive vice president directly owned 22,628 shares of the company's stock, valued at approximately $2,692,732. This represents a 4.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Lorenzo Daniel De sold 779 shares of the firm's stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $121.87, for a total transaction of $94,936.73. The disclosure for this sale can be found here. Insiders have sold 29,529 shares of company stock worth $3,362,874 in the last three months. Corporate insiders own 0.28% of the company's stock.

NetApp Company Profile

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.