6,410 Shares of NetApp, Inc. $NTAP Bought by Sigma Planning Corp

Key Points

• Sigma Planning Corp. acquired 6,410 NetApp shares during the third quarter, valued at approximately $1.345 million. Institutional investors and hedge funds collectively own 92.17% of NetApp.
• Analyst sentiment is positive, with NetApp receiving a consensus “Moderate Buy” rating and an average price target of $205.24; Evercore set the highest cited target at $300.
• NetApp reported quarterly EPS of $2.58, beating estimates by $0.46, while revenue rose 29.9% year over year to $2.02 billion. Insiders, however, sold $35.0 million of shares during the quarter.

Sigma Planning Corp bought a new stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 6,410 shares of the data storage provider's stock, valued at approximately $1,345,000.

A number of other large investors also recently added to or reduced their stakes in the business. Revolve Wealth Partners LLC raised its position in shares of NetApp by 6.2% during the 3rd quarter. Revolve Wealth Partners LLC now owns 2,327 shares of the data storage provider's stock valued at $489,000 after acquiring an additional 136 shares during the last quarter. Signaturefd LLC lifted its stake in shares of NetApp by 7.8% in the 3rd quarter. Signaturefd LLC now owns 5,014 shares of the data storage provider's stock valued at $1,053,000 after purchasing an additional 362 shares during the period. Citizens Financial Group Inc. RI lifted its stake in shares of NetApp by 23.2% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 2,508 shares of the data storage provider's stock valued at $527,000 after purchasing an additional 472 shares during the period. Simplicity Wealth LLC boosted its position in shares of NetApp by 10.6% in the 3rd quarter. Simplicity Wealth LLC now owns 1,445 shares of the data storage provider's stock worth $304,000 after purchasing an additional 138 shares during the last quarter. Finally, Sowell Financial Services LLC boosted its position in shares of NetApp by 75.5% in the 3rd quarter. Sowell Financial Services LLC now owns 2,925 shares of the data storage provider's stock worth $614,000 after purchasing an additional 1,258 shares during the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on NTAP shares. Susquehanna lifted their price objective on NetApp from $185.00 to $195.00 and gave the stock a "neutral" rating in a research note on Thursday, September 3rd. Cantor Fitzgerald upgraded NetApp to an "overweight" rating in a report on Wednesday, October 7th. Wall Street Zen raised NetApp from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 5th. Evercore upgraded NetApp from an "in-line" rating to an "outperform" rating and set a $300.00 target price on the stock in a report on Wednesday, October 7th. Finally, JPMorgan Chase & Co. raised their target price on NetApp from $175.00 to $195.00 and gave the stock a "neutral" rating in a report on Tuesday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, NetApp presently has a consensus rating of "Moderate Buy" and a consensus target price of $205.24.

Insider Buying and Selling at NetApp

In other NetApp news, EVP Elizabeth M. O'callahan sold 1,000 shares of the stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $237.42, for a total transaction of $237,420.00. Following the completion of the transaction, the executive vice president owned 29,737 shares in the company, valued at approximately $7,060,158.54. This represents a 3.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Deepak Ahuja sold 3,450 shares of the stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $200.00, for a total value of $690,000.00. Following the transaction, the director owned 12,814 shares of the company's stock, valued at approximately $2,562,800. This trade represents a 21.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 173,524 shares of company stock valued at $35,018,126 over the last quarter. 0.36% of the stock is currently owned by corporate insiders.

NetApp Trading Down 1.7%

NASDAQ NTAP opened at $223.66 on Thursday. The firm has a market cap of $43.93 billion, a P/E ratio of 31.55, a P/E/G ratio of 2.32 and a beta of 1.46. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.24 and a quick ratio of 1.16. The stock's 50-day moving average is $204.57 and its 200-day moving average is $149.00. NetApp, Inc. has a one year low of $93.69 and a one year high of $240.87.

NetApp (NASDAQ:NTAP - Get Free Report) last issued its quarterly earnings data on Wednesday, September 2nd. The data storage provider reported $2.58 earnings per share (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 business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the previous year, the firm earned $1.15 EPS. NetApp'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. Sell-side analysts anticipate that NetApp, Inc. will post 8.32 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 28th. Investors 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 0.9%. The ex-dividend date was Friday, October 9th. NetApp's dividend payout ratio (DPR) is presently 29.34%.

NetApp 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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