6,116 Shares in NetApp, Inc. $NTAP Bought by Greenland Capital Management LP

Key Points

• Greenland Capital Management initiated a NetApp position of 6,116 shares worth approximately $947,000 during the second quarter. Institutional investors and hedge funds own 92.17% of the company.
• NetApp reported strong quarterly results, with earnings of $2.58 per share and revenue of $2.02 billion, exceeding analyst expectations; revenue increased 29.9% year over year. Analysts’ average price target is $192.07, though the consensus rating remains “Hold.”
• NetApp declared a quarterly dividend of $0.52 per share, equating to an annualized dividend of $2.08 and a 1.1% yield. Company insiders have sold 55,072 shares worth approximately $8.72 million over the past 90 days.

Greenland Capital Management LP bought a new position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 6,116 shares of the data storage provider's stock, valued at approximately $947,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC purchased a new position in shares of NetApp in the second quarter valued at $173,000. Wedmont Private Capital grew its stake in NetApp by 4.1% in the 2nd quarter. Wedmont Private Capital now owns 6,486 shares of the data storage provider's stock valued at $1,095,000 after acquiring an additional 258 shares during the last quarter. Saudi Central Bank increased its holdings in NetApp by 88.9% during the 2nd quarter. Saudi Central Bank now owns 13,813 shares of the data storage provider's stock valued at $2,138,000 after acquiring an additional 6,502 shares in the last quarter. Hutchens & Kramer Investment Management Group LLC acquired a new position in NetApp during the second quarter worth about $287,000. Finally, Compass Financial Management LLC purchased a new stake in shares of NetApp in the second quarter valued at about $70,000. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NTAP has been the subject of several research reports. Argus lifted their price objective on NetApp from $130.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, June 1st. TD Cowen reissued a "buy" rating and set a $200.00 price target on shares of NetApp in a research report on Thursday. The Goldman Sachs Group reissued a "buy" rating and issued a $210.00 price target on shares of NetApp in a report on Thursday. Evercore set a $210.00 price objective on NetApp in a research report on Monday, August 24th. Finally, Weiss Ratings raised NetApp from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, June 8th. Six equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $192.07.

NetApp Price Performance

NTAP stock opened at $185.59 on Monday. The company has a 50 day moving average price of $178.73 and a two-hundred day moving average price of $141.13. 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 stock has a market capitalization of $36.45 billion, a P/E ratio of 26.18, a PEG ratio of 2.26 and a beta of 1.44. 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 released 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. NetApp had a return on equity of 119.13% and a net margin of 19.18%.The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the firm posted $1.15 earnings per share. The business'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, sell-side analysts expect that NetApp, Inc. will post 7.34 EPS for the current year.

NetApp Dividend Announcement

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

Trending Headlines about NetApp

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: NetApp reported record fiscal first-quarter results, with revenue rising 29.9% year over year to $2.03 billion and adjusted earnings of $2.58 per share, well above consensus estimates of $1.84 billion and approximately $2.13 per share. NTAP Q1 Earnings Beat Estimates on Hybrid, Public Cloud Revenue Growth
• Positive Sentiment: Management raised its fiscal 2027 adjusted EPS outlook to $9.73-$10.03 and forecast revenue of $7.975-$8.225 billion. Strong hybrid-cloud and public-cloud growth, all-flash storage demand and AI-related infrastructure upgrades are supporting the improved outlook. NetApp FY2027 Forecast and Raised EPS Outlook
• Positive Sentiment: Analysts largely raised their targets following the results. Goldman Sachs maintained a $210 target and TD Cowen reiterated its Buy rating with a $200 target, while Morgan Stanley lifted its target to $191. NetApp also expanded its AWS relationship by enabling storage migrations to Amazon FSx for NetApp ONTAP through AWS Transform.
• Neutral Sentiment: Analyst sentiment remains mixed: Citi downgraded the stock to Neutral with a $190 target, while Wedbush kept a Neutral rating despite raising its target to $170. The target changes suggest limited upside at current levels for some analysts.
• Negative Sentiment: The initial post-earnings selloff reflected a decline in free cash flow and management’s warning that second-quarter gross margin will decrease. Investors appear concerned that strong reported earnings and AI demand may not immediately translate into comparable cash generation.

Insider Buying and Selling

In other NetApp news, EVP Elizabeth O'Callahan sold 1,000 shares of NetApp stock in a transaction on Monday, August 10th. The shares were sold at an average price of $193.82, for a total value of $193,820.00. Following the transaction, the executive vice president owned 30,297 shares in the company, valued at $5,872,164.54. This trade represents a 3.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Cesar Cernuda sold 49,464 shares of the business's stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $154.82, for a total value of $7,658,016.48. Following the sale, the president owned 46,806 shares of the company's stock, valued at $7,246,504.92. The trade was a 51.38% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 55,072 shares of company stock worth $8,719,520. 0.36% of the stock is currently owned by insiders.

NetApp Profile

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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