8,892 Shares in NetApp, Inc. $NTAP Purchased by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management purchased 8,892 NetApp shares worth approximately $1.38 million in the second quarter. Institutional investors and hedge funds collectively own 92.17% of NetApp.
• Analysts remain cautious: NetApp has a consensus “Hold” rating from MarketBeat, despite several price-target increases and an average target of $179.77.
• NetApp reported quarterly revenue of $1.95 billion, up 12.5% year over year and above estimates, but earnings of $2.03 per share missed consensus by $0.24. The company also pays a quarterly dividend of $0.52 per share, yielding about 1.1% annually.

Northwestern Mutual Wealth Management Co. purchased a new stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,892 shares of the data storage provider's stock, valued at approximately $1,376,000.

A number of other hedge funds have also recently bought and sold shares of the business. Park Square Financial Group LLC raised its position in shares of NetApp by 68.7% in the 4th 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 in the last quarter. Gen Wealth Partners Inc acquired a new stake in shares of NetApp during the fourth quarter worth approximately $30,000. DV Equities LLC bought a new stake in shares of NetApp in the fourth quarter worth $30,000. Roble Belko & Company Inc bought a new stake in shares of NetApp in the first quarter worth $31,000. Finally, Torren Management LLC acquired a new stake in NetApp in the fourth quarter valued at $34,000. Institutional investors and hedge funds own 92.17% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on NTAP shares. Weiss Ratings upgraded shares of NetApp from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, June 8th. Citigroup boosted their target price on shares of NetApp from $150.00 to $209.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 18th. Bank of America upped their target price on shares of NetApp from $125.00 to $150.00 and gave the company a "neutral" rating in a research note on Friday, May 29th. JPMorgan Chase & Co. increased their price target on shares of NetApp from $110.00 to $150.00 and gave the stock a "neutral" rating in a research report on Friday, May 29th. Finally, Wedbush lifted their price target on NetApp from $115.00 to $150.00 and gave the stock a "neutral" rating in a research note on Friday, May 29th. Five investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, NetApp currently has a consensus rating of "Hold" and an average target price of $179.77.

NetApp Stock Performance

NetApp stock opened at $187.43 on Wednesday. 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 12 month low of $93.69 and a 12 month high of $209.06. The company has a fifty day moving average price of $173.96 and a two-hundred day moving average price of $136.41. The company has a market cap of $36.78 billion, a PE ratio of 29.47, a P/E/G ratio of 3.34 and a beta of 1.45.

NetApp (NASDAQ:NTAP - Get Free Report) last issued its 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 business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period last year, the company posted $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. Research analysts expect that NetApp, Inc. will post 7.32 earnings per share for the current year.

NetApp Announces Dividend

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

Insider Buying and Selling

In other NetApp news, President Cesar Cernuda sold 2,608 shares of the firm's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $204.48, for a total value of $533,283.84. Following the transaction, the president owned 46,530 shares of the company's stock, valued at $9,514,454.40. This trade represents a 5.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Lorenzo Daniel De sold 225 shares of NetApp stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $171.09, for a total value of $38,495.25. Following the completion of the transaction, the chief accounting officer owned 1,090 shares of the company's stock, valued at approximately $186,488.10. The trade was a 17.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 55,297 shares of company stock worth $8,758,016 over the last quarter. 0.36% of the stock is owned by company insiders.

NetApp Company 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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