6,462 Shares in NetApp, Inc. $NTAP Acquired by Allworth Financial LP

Allworth Financial LP purchased a new position in NetApp, Inc. (NASDAQ:NTAP - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 6,462 shares of the data storage provider's stock, valued at approximately $1,000,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. purchased a new position in NetApp in the 2nd quarter worth about $2,925,168,000. State Street Corp boosted its holdings in shares of NetApp by 1.1% in the fourth quarter. State Street Corp now owns 10,192,354 shares of the data storage provider's stock worth $1,091,499,000 after buying an additional 115,451 shares during the period. Wellington Management Group LLP boosted its holdings in shares of NetApp by 17.1% in the third quarter. Wellington Management Group LLP now owns 4,915,553 shares of the data storage provider's stock worth $582,296,000 after buying an additional 718,409 shares during the period. Norges Bank purchased a new position in shares of NetApp in the fourth quarter worth approximately $458,060,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of NetApp by 17.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,127,533 shares of the data storage provider's stock worth $442,018,000 after acquiring an additional 611,003 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company's stock.

Insiders Place Their Bets

In other news, President Cesar Cernuda sold 2,608 shares of the company's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $204.48, for a total transaction of $533,283.84. Following the completion of the sale, the president owned 46,530 shares in the company, valued at approximately $9,514,454.40. This represents a 5.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Lorenzo Daniel De sold 225 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $171.09, for a total value of $38,495.25. Following the transaction, the chief accounting officer directly owned 1,090 shares in the company, valued at approximately $186,488.10. This represents a 17.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 55,297 shares of company stock valued at $8,758,016 over the last quarter. Insiders own 0.36% of the company's stock.

NetApp Stock Performance

Shares of NASDAQ NTAP opened at $192.27 on Friday. The business's 50-day moving average price is $172.93 and its two-hundred day moving average price is $134.89. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.44 and a quick ratio of 1.39. NetApp, Inc. has a one year low of $93.69 and a one year high of $209.06. The company has a market capitalization of $37.73 billion, a P/E ratio of 30.23, a price-to-earnings-growth ratio of 3.45 and a beta of 1.45.

NetApp (NASDAQ:NTAP - Get Free Report) last posted its quarterly earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share for the quarter, missing analysts' consensus estimates of $2.27 by ($0.24). NetApp had a return on equity of 117.23% and a net margin of 18.43%.The firm had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.87 billion. During the same period last year, the business earned $1.93 earnings per share. The firm's revenue for the quarter 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. Analysts anticipate that NetApp, Inc. will post 7.32 earnings per share for the current fiscal year.

NetApp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, July 10th. NetApp's dividend payout ratio (DPR) is 32.70%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Northland Securities raised their price objective on shares of NetApp from $137.00 to $171.00 and gave the stock an "outperform" rating in a research note on Friday, May 29th. Wall Street Zen cut NetApp from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, July 29th. Bank of America raised their target price on NetApp from $125.00 to $150.00 and gave the stock a "neutral" rating in a research report on Friday, May 29th. Susquehanna lifted their price target on NetApp from $110.00 to $185.00 and gave the company a "neutral" rating in a report on Friday, May 29th. Finally, JPMorgan Chase & Co. upped their price target on NetApp from $110.00 to $150.00 and gave the company a "neutral" rating in a research report on Friday, May 29th. Five investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $177.25.

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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