Allworth Financial LP Sells 9,337 Shares of NetApp, Inc. $NTAP

Key Points

• Allworth Financial reduced its NetApp stake by 59.1% in the second quarter, selling 9,337 shares and retaining 6,462 shares. Institutional investors collectively own 92.17% of NetApp.
• NetApp reported strong quarterly results, with EPS of $2.58 versus the $2.12 consensus and revenue of about $2.02 billion, up 29.9% year over year. The company also issued fiscal 2027 earnings guidance.
• NetApp shares opened at $199.28, near their 52-week high, while analysts maintained a generally positive view; the stock carries a consensus “Hold” rating and an average price target of $193.86. The company declared a quarterly dividend of $0.52 per share.

Allworth Financial LP decreased its stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 59.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,462 shares of the data storage provider's stock after selling 9,337 shares during the period. Allworth Financial LP's holdings in NetApp were worth $1,000,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. West Financial Advisors LLC purchased a new stake in shares of NetApp in the second quarter valued at about $37,000. Park Square Financial Group LLC increased its stake in 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 buying an additional 103 shares during the last quarter. Gen Wealth Partners Inc purchased a new stake in NetApp in the 4th quarter valued at about $30,000. DV Equities LLC bought a new position in shares of NetApp during the 4th quarter worth approximately $30,000. Finally, Measured Wealth Private Client Group LLC bought a new position in shares of NetApp during the 3rd quarter worth approximately $35,000. Institutional investors own 92.17% of the company's stock.

NetApp Stock Up 8.5%

NetApp stock opened at $199.28 on Friday. The firm has a 50 day simple moving average of $182.09 and a 200 day simple moving average of $143.89. The company has a current ratio of 1.24, a quick ratio of 1.16 and a debt-to-equity ratio of 1.30. NetApp, Inc. has a 1-year low of $93.69 and a 1-year high of $209.06. The firm has a market capitalization of $39.14 billion, a price-to-earnings ratio of 28.11, a P/E/G ratio of 2.14 and a beta of 1.44.

NetApp (NASDAQ:NTAP - Get Free Report) last posted its earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the business posted $1.15 earnings per share. The business's quarterly revenue was up 29.9% on a year-over-year basis. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. On average, analysts predict that NetApp, Inc. will post 8.32 earnings per share for the current year.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Friday, October 9th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, October 9th. NetApp's dividend payout ratio is presently 29.34%.

Trending Headlines about NetApp

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: Zacks upgraded NetApp to “Strong Buy” from “Hold,” adding to the stock’s positive momentum and likely providing a near-term catalyst for investors.
• Positive Sentiment: NetApp’s inclusion on Zacks’ list of top momentum stocks reinforces the view that its recent operating performance and share-price trend remain favorable. Best Momentum Stock to Buy for September 10th
• Positive Sentiment: Northland Securities raised its FY2027 EPS forecast to $8.14 from $7.11 and its FY2028 forecast to $9.15 from $7.85. It also increased estimates for several quarterly periods while maintaining an “Outperform” rating, signaling stronger expectations for demand and profitability.
• Positive Sentiment: Recent results showed substantial earnings and revenue strength: NetApp reported quarterly EPS of $2.58 versus the $2.12 consensus estimate, while revenue of $2.03 billion exceeded the $1.84 billion forecast and grew nearly 30% year over year. The company also raised its product and earnings outlook, supporting optimism around its storage and data-management strategy.
• Positive Sentiment: Shareholders approved NetApp’s governance changes and re-elected the company’s director nominees, including CEO George Kurian. The result removes a potential governance overhang and maintains leadership continuity. NetApp Shareholders Approve Governance Changes and Board Slate
• Neutral Sentiment: Analysts are comparing NetApp with Super Micro Computer as a value investment, but the article does not represent a specific change in NetApp’s outlook. SMCI or NTAP: Which Is the Better Value Stock Right Now?
• Negative Sentiment: Northland’s $187 price target remains below NetApp’s recent trading level, suggesting that at least one analyst sees limited near-term upside despite raising earnings estimates.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. TD Cowen reaffirmed a "buy" rating and issued a $200.00 target price on shares of NetApp in a report on Thursday, September 3rd. The Goldman Sachs Group reiterated a "buy" rating and set a $210.00 price target on shares of NetApp in a report on Thursday, September 3rd. JPMorgan Chase & Co. boosted their price objective on NetApp from $110.00 to $150.00 and gave the stock a "neutral" rating in a research report on Friday, May 29th. Argus set a $225.00 price objective on NetApp in a research note on Friday. Finally, Evercore set a $210.00 target price on NetApp in a research report on Monday, August 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $193.86.

Insider Transactions at NetApp

In other news, EVP Elizabeth M. O'callahan sold 1,000 shares of the business's 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 completion of the transaction, the executive vice president directly owned 30,297 shares in the company, valued at $5,872,164.54. The trade was a 3.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Cesar Cernuda sold 2,608 shares of the company's stock in a transaction on 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 transaction, the president directly owned 46,530 shares in the company, valued at approximately $9,514,454.40. The trade was a 5.31% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 54,072 shares of company stock worth $8,556,040. Insiders own 0.36% of the company's stock.

NetApp Profile

NetApp, Inc NASDAQ: NTAP is a data infrastructure and cloud storage company that helps organizations manage, protect and access data across on-premises environments, private clouds and public clouds. Its offerings are designed to support enterprise workloads such as databases, business applications, artificial intelligence and virtualized computing.

The company's portfolio includes all-flash and hybrid storage systems, cloud storage services, data management software and infrastructure-as-a-service solutions.

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