Bleakley Financial Group LLC Purchases Shares of 11,258 NetApp, Inc. $NTAP

Key Points

• Bleakley Financial Group LLC opened a new position in NetApp during the first quarter, buying 11,258 shares valued at about $1.153 million.
• NetApp’s latest quarterly results were mixed: EPS of $2.03 missed estimates, but revenue of $1.95 billion topped forecasts and rose 12.5% year over year.
• The company also declared a quarterly dividend of $0.52 per share, and recent analyst commentary remained generally constructive, with Goldman Sachs reiterating a Buy rating and a $200 price target.

Bleakley Financial Group LLC bought a new stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 11,258 shares of the data storage provider's stock, valued at approximately $1,153,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Park Square Financial Group LLC lifted its stake 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 in the fourth quarter worth $30,000. DV Equities LLC purchased a new position in shares of NetApp in the 4th quarter valued at $30,000. Roble Belko & Company Inc purchased a new position in shares of NetApp in the 1st quarter valued at $31,000. Finally, JFS Wealth Advisors LLC lifted its holdings in shares of NetApp by 176.3% during the 4th quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider's stock valued at $34,000 after acquiring an additional 201 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

NetApp Price Performance

Shares of NASDAQ NTAP opened at $163.88 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.44 and a debt-to-equity ratio of 1.84. NetApp, Inc. has a fifty-two week low of $93.69 and a fifty-two week high of $192.83. The business has a 50 day moving average price of $153.28 and a two-hundred day moving average price of $120.54. The firm has a market cap of $32.11 billion, a PE ratio of 25.77, a price-to-earnings-growth ratio of 2.92 and a beta of 1.46.

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 company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. NetApp had a return on equity of 117.23% and a net margin of 18.43%.The firm's quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.93 EPS. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. Sell-side analysts expect that NetApp, Inc. will post 7.16 earnings per share for the current fiscal year.

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Friday, July 10th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. NetApp's dividend payout ratio (DPR) is presently 32.70%.

NetApp News Summary

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: Goldman Sachs reiterated a Buy rating on NetApp and kept its $200 price target, citing the company’s AI-driven storage capabilities and potential to support emerging “agentic” workloads. Article Title
• Positive Sentiment: Susquehanna reportedly had a largely positive view of NetApp heading into the second half of the year, reinforcing optimism around the stock’s outlook after recent earnings. Article Title
• Positive Sentiment: NetApp’s acquisition of DataPelago was framed as a strategic move to make data AI-ready at the infrastructure layer, potentially strengthening its long-term position in AI and analytics. Article Title
• Neutral Sentiment: Market commentary said NetApp stock is pausing after earnings, with support at the 10-week moving average potentially offering an entry point for investors. Article Title
• Neutral Sentiment: Additional coverage highlighted NetApp as a long-term growth name and noted new trading products tied to the stock, which may be helping keep investor attention elevated. Article Title

Insider Buying and Selling

In related news, CAO Lorenzo Daniel De sold 275 shares of the company'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 transaction of $33,000.00. Following the sale, the chief accounting officer directly owned 1,090 shares of the company's stock, valued at approximately $130,800. This represents a 20.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Cesar Cernuda sold 49,464 shares of the stock in a transaction on 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 sale, the president directly owned 46,806 shares in the company, valued at $7,246,504.92. This trade represents a 51.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 52,964 shares of company stock worth $8,181,642. Corporate insiders own 0.28% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on NTAP. Susquehanna raised their price objective on NetApp from $110.00 to $185.00 and gave the company a "neutral" rating in a research report on Friday, May 29th. Wedbush increased their target price on NetApp from $115.00 to $150.00 and gave the company a "neutral" rating in a research note on Friday, May 29th. Bank of America raised their target price on NetApp from $125.00 to $150.00 and gave the company a "neutral" rating in a report on Friday, May 29th. JPMorgan Chase & Co. upped their price target on NetApp from $110.00 to $150.00 and gave the stock a "neutral" rating in a report on Friday, May 29th. Finally, Argus lifted their price objective on shares of NetApp from $130.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, June 1st. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, NetApp has a consensus rating of "Hold" and an average price target of $169.33.

About NetApp

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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