B. Metzler seel. Sohn & Co. AG Takes $6.33 Million Position in NetApp, Inc. $NTAP

B. Metzler seel. Sohn & Co. AG purchased a new position in NetApp, Inc. (NASDAQ:NTAP - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 40,897 shares of the data storage provider's stock, valued at approximately $6,329,000.

A number of other hedge funds also recently bought and sold shares of NTAP. BlackRock Inc. purchased a new stake in NetApp in the 2nd quarter worth $2,925,168,000. Norges Bank purchased a new position in NetApp during the fourth quarter valued at $458,060,000. First Trust Advisors LP lifted its holdings in NetApp by 127.0% during the first quarter. First Trust Advisors LP now owns 3,658,066 shares of the data storage provider's stock valued at $374,549,000 after purchasing an additional 2,046,912 shares in the last quarter. Deutsche Bank AG acquired a new stake in shares of NetApp in the second quarter valued at about $195,203,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of NetApp in the second quarter valued at about $181,772,000. Hedge funds and other institutional investors own 92.17% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on NTAP shares. Citigroup upped their price target on shares of NetApp from $150.00 to $209.00 and gave the stock a "neutral" rating in a research report on Tuesday. The Goldman Sachs Group reiterated a "buy" rating and issued a $200.00 price objective on shares of NetApp in a report on Tuesday, June 2nd. Susquehanna boosted their price objective on NetApp from $110.00 to $185.00 and gave the stock a "neutral" rating in a research note on Friday, May 29th. Barclays increased their target price on NetApp from $120.00 to $199.00 and gave the company an "overweight" rating in a report on Friday, May 29th. Finally, Wall Street Zen downgraded NetApp from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, July 29th. Five investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $177.25.

NetApp Price Performance

NASDAQ:NTAP opened at $192.27 on Friday. NetApp, Inc. has a 52 week low of $93.69 and a 52 week high of $209.06. 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 company has a market capitalization of $37.73 billion, a P/E ratio of 30.23, a P/E/G ratio of 3.46 and a beta of 1.45. The stock's fifty day moving average is $172.93 and its two-hundred day moving average is $134.89.

NetApp (NASDAQ:NTAP - Get Free Report) last released its quarterly 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). The business had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.87 billion. NetApp had a return on equity of 117.23% and a net margin of 18.43%.The business's revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $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 expect that NetApp, Inc. will post 7.3 EPS for the current year.

NetApp Announces Dividend

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

Insider Activity

In other NetApp news, CAO Lorenzo Daniel De sold 225 shares of the business's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $171.09, for a total value of $38,495.25. Following the sale, the chief accounting officer owned 1,090 shares of the company's stock, valued at $186,488.10. The trade was a 17.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 value of $533,283.84. Following the transaction, the president owned 46,530 shares in the company, valued at $9,514,454.40. This trade represents a 5.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 55,297 shares of company stock valued at $8,758,016. Company insiders own 0.36% of the company's stock.

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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