EP Wealth Advisors LLC purchased a new position in NetApp, Inc. (NASDAQ:NTAP - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 18,398 shares of the data storage provider's stock, valued at approximately $2,847,000.
Other hedge funds have also recently made changes to their positions in the company. Parallel Advisors LLC grew its position in shares of NetApp by 2.1% in the 4th quarter. Parallel Advisors LLC now owns 5,007 shares of the data storage provider's stock worth $536,000 after buying an additional 101 shares during the last quarter. Park Square Financial Group LLC lifted its position in NetApp by 68.7% during the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider's stock valued at $29,000 after acquiring an additional 103 shares during the last quarter. Assetmark Inc. lifted its position in NetApp by 3.0% during the first quarter. Assetmark Inc. now owns 3,540 shares of the data storage provider's stock valued at $362,000 after acquiring an additional 104 shares during the last quarter. Fifth Third Bancorp boosted its stake in NetApp by 0.9% in the fourth quarter. Fifth Third Bancorp now owns 12,559 shares of the data storage provider's stock valued at $1,345,000 after acquiring an additional 108 shares in the last quarter. Finally, Transamerica Financial Advisors LLC boosted its stake in NetApp by 16.8% in the fourth quarter. Transamerica Financial Advisors LLC now owns 833 shares of the data storage provider's stock valued at $89,000 after acquiring an additional 120 shares in the last quarter. 92.17% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at NetApp
In other NetApp news, President Cesar Cernuda sold 2,608 shares of the company's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $204.48, for a total transaction of $533,283.84. Following the completion of the transaction, the president directly owned 46,530 shares in the company, valued at approximately $9,514,454.40. This represents a 5.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Lorenzo Daniel De sold 225 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $171.09, for a total transaction of $38,495.25. Following the transaction, the chief accounting officer directly owned 1,090 shares in the company, valued at approximately $186,488.10. The trade was a 17.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 55,297 shares of company stock valued at $8,758,016. 0.36% of the stock is owned by company insiders.
NetApp Trading Down 0.3%
Shares of NetApp stock opened at $192.27 on Friday. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.44 and a quick ratio of 1.39. The firm has a fifty day moving average price of $172.93 and a 200 day moving average price of $134.89. NetApp, Inc. has a 1 year low of $93.69 and a 1 year high of $209.06. The stock has a market cap of $37.73 billion, a PE ratio of 30.23, a price-to-earnings-growth ratio of 3.45 and a beta of 1.45.
NetApp (NASDAQ:NTAP - Get Free Report) last announced its quarterly earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share 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 for the quarter, compared to analyst estimates of $1.87 billion. During the same period in the prior year, the business posted $1.93 earnings per share. NetApp's revenue for the quarter was up 12.5% on a year-over-year basis. 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 research analysts predict that NetApp, Inc. will post 7.32 earnings per share for the current year.
NetApp Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 29th. Investors of record on Friday, July 10th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.08 dividend on an annualized basis and a yield of 1.1%. NetApp's dividend payout ratio (DPR) is currently 32.70%.
Wall Street Analysts Forecast Growth
NTAP has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price objective on NetApp from $110.00 to $150.00 and gave the stock a "neutral" rating in a research report on Friday, May 29th. Wells Fargo & Company upped their target price on NetApp from $115.00 to $180.00 and gave the company an "equal weight" rating in a research report on Friday, May 29th. Northland Securities increased their price target on NetApp from $137.00 to $171.00 and gave the company an "outperform" rating in a research note on Friday, May 29th. Weiss Ratings raised NetApp from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, June 8th. Finally, Barclays boosted their price target on NetApp from $120.00 to $199.00 and gave the stock an "overweight" rating in a research note on Friday, May 29th. Five analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, NetApp currently has a consensus rating of "Hold" and a consensus price target of $177.25.
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About NetApp
(
Free Report)
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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