Arkadios Wealth Advisors Raises Stock Position in NetApp, Inc. $NTAP

Arkadios Wealth Advisors increased its position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 73.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,891 shares of the data storage provider's stock after acquiring an additional 7,165 shares during the period. Arkadios Wealth Advisors' holdings in NetApp were worth $1,729,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geneos Wealth Management Inc. increased its position in shares of NetApp by 38.3% in the first quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider's stock worth $67,000 after purchasing an additional 210 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in NetApp in the second quarter worth $315,000. Cerity Partners LLC grew its position in NetApp by 9.9% in the second quarter. Cerity Partners LLC now owns 46,792 shares of the data storage provider's stock worth $4,986,000 after acquiring an additional 4,232 shares in the last quarter. Bank of Nova Scotia increased its stake in NetApp by 7.3% in the second quarter. Bank of Nova Scotia now owns 24,301 shares of the data storage provider's stock valued at $2,589,000 after acquiring an additional 1,662 shares during the last quarter. Finally, NewEdge Advisors LLC increased its stake in NetApp by 12.7% in the second quarter. NewEdge Advisors LLC now owns 20,161 shares of the data storage provider's stock valued at $2,148,000 after acquiring an additional 2,277 shares during the last quarter. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at NetApp

In other news, CAO Lorenzo Daniel De sold 275 shares of the business's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $120.00, for a total transaction of $33,000.00. Following the sale, the chief accounting officer owned 1,090 shares in the company, valued at approximately $130,800. The trade was a 20.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Cesar Cernuda sold 49,464 shares of the stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $154.82, for a total transaction of $7,658,016.48. Following the completion of the transaction, the president owned 46,806 shares of the company's stock, valued at approximately $7,246,504.92. The trade was a 51.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 52,964 shares of company stock valued at $8,181,642. Corporate insiders own 0.36% of the company's stock.

NetApp Stock Performance

NTAP opened at $178.50 on Monday. The firm has a market capitalization of $35.03 billion, a price-to-earnings ratio of 28.07, a PEG ratio of 3.26 and a beta of 1.45. NetApp, Inc. has a one year low of $93.69 and a one year high of $192.83. The business has a 50 day simple moving average of $162.88 and a two-hundred day simple moving average of $125.07. 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 (NASDAQ:NTAP - Get Free Report) last announced its earnings results on Thursday, May 28th. The data storage provider reported $2.03 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 business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the company earned $1.93 EPS. NetApp'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. Analysts predict that NetApp, Inc. will post 7.16 EPS for the current year.

NetApp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, July 10th. NetApp's payout ratio is presently 32.70%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on NTAP shares. Wells Fargo & Company upped their price objective on NetApp from $115.00 to $180.00 and gave the stock an "equal weight" rating in a report on Friday, May 29th. Northland Securities boosted their target price on NetApp from $137.00 to $171.00 and gave the stock an "outperform" rating in a research report on Friday, May 29th. Susquehanna boosted their price objective on shares of NetApp from $110.00 to $185.00 and gave the stock a "neutral" rating in a report on Friday, May 29th. Barclays upped their price objective on shares of NetApp from $120.00 to $199.00 and gave the company an "overweight" rating in a research note on Friday, May 29th. Finally, Citigroup increased their target price on shares of NetApp from $114.00 to $150.00 and gave the company a "neutral" rating in a report on Friday, May 29th. Five analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, NetApp currently has an average rating of "Hold" and a consensus target price of $169.33.

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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