9,836 Shares in NetApp, Inc. $NTAP Purchased by Impact Partnership Wealth LLC

Key Points

• Impact Partnership Wealth LLC opened a new position in NetApp, buying 9,836 shares worth about $1.05 million in the fourth quarter.
• NetApp’s latest quarterly results were mixed: revenue beat estimates at $1.95 billion and rose 12.5% year over year, but EPS missed consensus at $2.03 versus $2.27 expected.
• The company reiterated growth expectations and returned cash to shareholders, including a quarterly dividend of $0.52 per share and FY2027 guidance of $8.70-$9.00 EPS, while analysts broadly kept a Hold view with higher price targets.

Impact Partnership Wealth LLC bought a new position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 9,836 shares of the data storage provider's stock, valued at approximately $1,053,000.

Several other institutional investors have also recently made changes to their positions in the business. Norges Bank bought a new position in NetApp during the fourth quarter valued at approximately $458,060,000. Eurizon Capital SGR S.p.A. purchased a new position in NetApp during the 4th quarter valued at approximately $43,175,000. Hillsdale Investment Management Inc. purchased a new position in NetApp during the 4th quarter valued at approximately $910,000. National Pension Service grew its holdings in NetApp by 13.6% during the 4th quarter. National Pension Service now owns 180,917 shares of the data storage provider's stock valued at $19,374,000 after buying an additional 21,643 shares in the last quarter. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in NetApp during the 4th quarter valued at approximately $13,271,000. Hedge funds and other institutional investors own 92.17% of the company's stock.

Insider Activity at NetApp

In other news, CAO Lorenzo Daniel De sold 275 shares of the firm's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $120.00, for a total value of $33,000.00. Following the completion of the sale, the chief accounting officer directly owned 1,090 shares of the company's stock, valued at $130,800. This trade represents a 20.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Elizabeth M. O'callahan sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $117.73, for a total value of $117,730.00. Following the completion of the sale, the executive vice president directly owned 18,382 shares of the company's stock, valued at $2,164,112.86. The trade was a 5.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,275 shares of company stock valued at $347,650 over the last ninety days. Corporate insiders own 0.28% of the company's stock.

NetApp Price Performance

NASDAQ:NTAP opened at $174.29 on Friday. The firm has a market capitalization of $34.39 billion, a price-to-earnings ratio of 27.40, a PEG ratio of 2.60 and a beta of 1.28. NetApp, Inc. has a 1 year low of $93.69 and a 1 year high of $192.83. The business has a 50 day simple moving average of $112.46 and a 200-day simple moving average of $107.95. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.39 and a quick ratio of 1.36.

NetApp (NASDAQ:NTAP - Get Free Report) last posted its quarterly earnings data on Thursday, May 28th. The data storage provider reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.24). The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. NetApp had a net margin of 18.43% and a return on equity of 126.01%. NetApp's revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.93 earnings per share. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. Equities analysts forecast that NetApp, Inc. will post 7.14 EPS for the current year.

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Friday, July 10th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, July 10th. NetApp's dividend payout ratio (DPR) is presently 32.70%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on NTAP shares. Susquehanna raised their price target on NetApp from $110.00 to $185.00 and gave the company a "neutral" rating in a report on Friday. UBS Group restated a "neutral" rating and set a $160.00 price target on shares of NetApp in a report on Friday. Bank of America lifted their price objective on shares of NetApp from $125.00 to $150.00 and gave the stock a "neutral" rating in a research note on Friday. Wedbush lifted their price objective on shares of NetApp from $115.00 to $150.00 and gave the stock a "neutral" rating in a research note on Friday. Finally, Citigroup lifted their price objective on shares of NetApp from $114.00 to $150.00 and gave the stock a "neutral" rating in a research note on Friday. Four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, NetApp currently has a consensus rating of "Hold" and an average price target of $157.50.

Key Headlines Impacting NetApp

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: NetApp reported fiscal Q4 revenue of $1.95 billion, topping estimates and rising 12.5% year over year, while non-GAAP EPS came in at $2.43, also above expectations. NetApp Q4 Earnings and Revenues Top Estimates
• Positive Sentiment: Management issued FY2027 guidance above Wall Street estimates, pointing to revenue of about $7.3 billion-$7.6 billion and EPS of $8.70-$9.00, which supports optimism for continued growth and margin expansion. Why NetApp Stock Soared 35% Friday Morning
• Positive Sentiment: Analysts sharply lifted price targets after the report, including JPMorgan, Bank of America, Citigroup, Wedbush, Susquehanna, Northland, and Wells Fargo, signaling that the earnings beat may lead to higher estimates even if several firms kept neutral or hold-type ratings. Analyst price target updates
• Positive Sentiment: NetApp also announced a quarterly dividend and a new $1 billion share repurchase program, adding to shareholder returns and potentially supporting the stock. NetApp Announces New $1 Billion Share Repurchase Program

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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