Emerald Investment Advisers LLC Makes New Investment in NetApp, Inc. $NTAP

Key Points

• Emerald Investment Advisers acquired 13,743 NetApp shares worth approximately $2.13 million in the second quarter. Institutional investors collectively own 92.17% of the company.
• NetApp’s latest quarter showed 12.5% year-over-year revenue growth to $1.95 billion, though adjusted EPS of $2.03 missed analysts’ $2.27 estimate. The company reaffirmed FY 2027 EPS guidance of $8.70–$9.00.
• NetApp trades near $192.27 and recently paid a quarterly dividend of $0.52, equivalent to a 1.1% yield. Analysts maintain a consensus “Hold” rating with a $177.25 price target, while insiders sold $8.76 million of stock over the past 90 days.

Emerald Investment Advisers LLC acquired a new position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 13,743 shares of the data storage provider's stock, valued at approximately $2,127,000.

Several other hedge funds have also added to or reduced their stakes in NTAP. Geneos Wealth Management Inc. increased its stake in shares of NetApp by 38.3% during the first quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider's stock valued at $67,000 after buying an additional 210 shares during the period. Sivia Capital Partners LLC purchased a new stake in NetApp in the second quarter worth $315,000. Cerity Partners LLC boosted its holdings in NetApp by 9.9% in the second quarter. Cerity Partners LLC now owns 46,792 shares of the data storage provider's stock valued at $4,986,000 after acquiring an additional 4,232 shares in the last quarter. Bank of Nova Scotia boosted its holdings 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 in the last quarter. Finally, NewEdge Advisors LLC increased its position in NetApp by 12.7% during the 2nd quarter. NewEdge Advisors LLC now owns 20,161 shares of the data storage provider's stock valued at $2,148,000 after purchasing an additional 2,277 shares during the period. 92.17% of the stock is owned by institutional investors.

Insider Activity at NetApp

In other NetApp news, CAO Lorenzo Daniel De sold 225 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $171.09, for a total transaction of $38,495.25. Following the sale, the chief accounting officer directly owned 1,090 shares in the company, valued at approximately $186,488.10. This trade represents a 17.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Elizabeth M. O'callahan sold 1,000 shares of the business's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $193.82, for a total value of $193,820.00. Following the completion of the transaction, the executive vice president owned 30,297 shares of the company's stock, valued at $5,872,164.54. This represents a 3.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 55,297 shares of company stock valued at $8,758,016 over the last 90 days. Corporate insiders own 0.36% of the company's stock.

NetApp Trading Down 0.3%

NASDAQ NTAP opened at $192.27 on Friday. NetApp, Inc. has a 12 month low of $93.69 and a 12 month high of $209.06. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 1.84. The stock's fifty day moving average price is $172.93 and its 200-day moving average price is $134.89. The stock has a market cap of $37.73 billion, a P/E ratio of 30.23, a P/E/G ratio of 3.45 and a beta of 1.45.

NetApp (NASDAQ:NTAP - Get Free Report) last posted its quarterly earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.24). NetApp had a return on equity of 117.23% and a net margin of 18.43%.The company had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.87 billion. During the same period in the prior year, the firm earned $1.93 EPS. NetApp's revenue for the quarter 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. As a group, equities analysts forecast that NetApp, Inc. will post 7.32 EPS for the current fiscal year.

NetApp Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, July 10th. NetApp's dividend payout ratio is currently 32.70%.

Analysts Set New Price Targets

Several brokerages have commented on NTAP. UBS Group reaffirmed a "neutral" rating and issued a $160.00 target price on shares of NetApp in a research report on Friday, May 29th. The Goldman Sachs Group reiterated a "buy" rating and set a $200.00 price target on shares of NetApp in a research report on Tuesday, June 2nd. Morgan Stanley raised shares of NetApp from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $137.00 to $173.00 in a research note on Monday, August 10th. Susquehanna lifted 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. Finally, Citigroup lifted their price target on NetApp from $150.00 to $209.00 and gave the company a "neutral" rating in a research report on Tuesday. Five analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, NetApp has a consensus rating of "Hold" and a consensus price target of $177.25.

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.

Want to see what other hedge funds are holding NTAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NetApp, Inc. (NASDAQ:NTAP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source