Daiwa Securities Group Inc. Has $4.82 Million Stock Holdings in NetApp, Inc. $NTAP

Key Points

• Daiwa Securities Group Inc. cut its NetApp stake by 37.2% in the fourth quarter, ending with 44,966 shares valued at about $4.82 million.
• NetApp reported fiscal Q earnings that missed EPS expectations at $2.03 versus $2.27, though revenue of $1.95 billion beat estimates and rose 12.5% year over year.
• The company also announced a quarterly dividend of $0.52 per share, and analysts currently rate the stock a consensus "Hold" with an average price target of $169.33.

Daiwa Securities Group Inc. decreased its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 37.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,966 shares of the data storage provider's stock after selling 26,670 shares during the quarter. Daiwa Securities Group Inc.'s holdings in NetApp were worth $4,815,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in NTAP. Abich Financial Wealth Management LLC acquired a new stake in NetApp during the 3rd quarter valued at $27,000. Rossby Financial LCC lifted its holdings in shares of NetApp by 105.5% during the third quarter. Rossby Financial LCC now owns 224 shares of the data storage provider's stock worth $27,000 after buying an additional 115 shares in the last quarter. Park Square Financial Group LLC lifted its holdings in shares of NetApp by 68.7% during the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider's stock worth $29,000 after buying an additional 103 shares in the last quarter. JFS Wealth Advisors LLC lifted its holdings in shares of NetApp by 176.3% during the fourth quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider's stock worth $34,000 after buying an additional 201 shares in the last quarter. Finally, Torren Management LLC acquired a new stake in shares of NetApp during the fourth quarter worth $34,000. Institutional investors and hedge funds own 92.17% of the company's stock.

Insider Transactions at NetApp

In other NetApp news, EVP Elizabeth M. O'callahan sold 1,000 shares of NetApp stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $117.73, for a total value of $117,730.00. Following the transaction, the executive vice president owned 18,382 shares in the company, valued at $2,164,112.86. The trade was a 5.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Lorenzo Daniel De sold 275 shares of NetApp stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $120.00, for a total value of $33,000.00. Following the completion of the transaction, the chief accounting officer owned 1,090 shares in the company, valued at approximately $130,800. This represents a 20.15% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 2,500 shares of company stock worth $285,475. Company insiders own 0.28% of the company's stock.

NetApp Stock Up 2.0%

NTAP stock opened at $170.31 on Tuesday. The company has a market cap of $33.61 billion, a PE ratio of 26.78, a price-to-earnings-growth ratio of 3.06 and a beta of 1.44. The business has a 50-day simple moving average of $121.12 and a 200 day simple moving average of $110.73. NetApp, Inc. has a 52 week low of $93.69 and a 52 week high of $192.83. 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 (NASDAQ:NTAP - Get Free Report) last posted its quarterly 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). The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.87 billion. NetApp had a net margin of 18.43% and a return on equity of 117.23%. The firm's revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period last year, the firm earned $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 anticipate that NetApp, Inc. will post 7.14 EPS for the current fiscal year.

NetApp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, July 10th. NetApp's payout ratio is currently 32.70%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on NTAP shares. Wells Fargo & Company lifted their target price on NetApp from $115.00 to $180.00 and gave the stock an "equal weight" rating in a report on Friday, May 29th. Susquehanna lifted their target price on NetApp from $110.00 to $185.00 and gave the stock a "neutral" rating in a report on Friday, May 29th. Northland Securities lifted their target price on NetApp from $137.00 to $171.00 and gave the stock an "outperform" rating in a report on Friday, May 29th. Wall Street Zen downgraded NetApp from a "buy" rating to a "hold" rating in a report on Sunday, April 19th. Finally, Morgan Stanley boosted their price target on NetApp from $88.00 to $137.00 and gave the company an "underweight" rating in a research note on Friday, May 29th. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $169.33.

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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