7,352 Shares in NetApp, Inc. $NTAP Acquired by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. acquired a new position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 7,352 shares of the data storage provider's stock, valued at approximately $1,138,000.

A number of other large investors have also recently made changes to their positions in the stock. Park Square Financial Group LLC increased its holdings in shares of NetApp by 68.7% in the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider's stock valued at $29,000 after purchasing an additional 103 shares during the period. Gen Wealth Partners Inc purchased a new stake in NetApp in the fourth quarter valued at approximately $30,000. DV Equities LLC purchased a new stake in NetApp in the fourth quarter valued at approximately $30,000. Roble Belko & Company Inc purchased a new stake in NetApp in the first quarter valued at approximately $31,000. Finally, Torren Management LLC acquired a new position in NetApp in the 4th quarter worth approximately $34,000. 92.17% of the stock is owned by hedge funds and other institutional investors.

NetApp Stock Down 5.0%

NetApp stock opened at $194.48 on Thursday. The business's 50-day moving average price is $171.67 and its 200 day moving average price is $133.81. The company has a quick ratio of 1.39, a current ratio of 1.44 and a debt-to-equity ratio of 1.84. The firm has a market cap of $38.16 billion, a price-to-earnings ratio of 30.58, a price-to-earnings-growth ratio of 3.67 and a beta of 1.45. NetApp, Inc. has a 52 week low of $93.69 and a 52 week high of $209.06.

NetApp (NASDAQ:NTAP - Get Free Report) last announced its quarterly earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.87 billion. During the same period in the previous year, the firm posted $1.93 earnings per share. The company's revenue was up 12.5% compared to the same quarter last year. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. As a group, sell-side analysts anticipate that NetApp, Inc. will post 7.3 earnings per share for the current year.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Investors of record on Friday, July 10th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, July 10th. NetApp's payout ratio is currently 32.70%.

Insider Activity at NetApp

In related news, EVP Elizabeth M. O'callahan sold 1,000 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $193.82, for a total transaction of $193,820.00. Following the sale, the executive vice president directly owned 30,297 shares of the company's stock, valued at approximately $5,872,164.54. This represents a 3.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Lorenzo Daniel De sold 225 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $171.09, for a total transaction of $38,495.25. Following the sale, the chief accounting officer directly owned 1,090 shares in the company, valued at $186,488.10. This trade represents a 17.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 55,297 shares of company stock worth $8,758,016 in the last three months. Company insiders own 0.36% of the company's stock.

Analyst Upgrades and Downgrades

NTAP has been the subject of a number of recent research reports. Wells Fargo & Company raised their price target on shares of NetApp from $115.00 to $180.00 and gave the stock an "equal weight" rating in a research report on Friday, May 29th. Weiss Ratings raised shares of NetApp from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, June 8th. Argus increased their price objective on shares of NetApp from $130.00 to $200.00 and gave the stock a "buy" rating in a research note on Monday, June 1st. Barclays raised their target price on shares of NetApp from $120.00 to $199.00 and gave the stock an "overweight" rating in a report on Friday, May 29th. Finally, UBS Group restated a "neutral" rating and set a $160.00 target price on shares of NetApp in a research report on Friday, May 29th. Five investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $177.25.

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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