Hillsdale Investment Management Inc. Acquires Shares of 8,500 NetApp, Inc. $NTAP

Hillsdale Investment Management Inc. acquired a new stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 8,500 shares of the data storage provider's stock, valued at approximately $910,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NTAP. Abich Financial Wealth Management LLC bought a new position in shares of NetApp during the third 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 valued at $27,000 after acquiring an additional 115 shares during the period. 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 valued at $29,000 after acquiring an additional 103 shares during the period. 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 valued at $34,000 after acquiring an additional 201 shares during the period. Finally, Torren Management LLC acquired a new stake in shares of NetApp in the fourth quarter valued at $34,000. 92.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Argus raised their target price on NetApp from $130.00 to $200.00 and gave the company a "buy" rating in a research note on Monday. Wells Fargo & Company raised their target price on NetApp from $115.00 to $180.00 and gave the company an "equal weight" rating in a research note on Friday. UBS Group restated a "neutral" rating and issued a $160.00 target price on shares of NetApp in a research note on Friday. Citigroup raised their target price on NetApp from $114.00 to $150.00 and gave the company a "neutral" rating in a research note on Friday. Finally, JPMorgan Chase & Co. raised their target price on NetApp from $110.00 to $150.00 and gave the company a "neutral" rating in a research note on Friday. Four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $163.33.

NetApp Price Performance

NetApp stock opened at $179.70 on Tuesday. The firm has a market capitalization of $35.46 billion, a P/E ratio of 28.25, a PEG ratio of 3.18 and a beta of 1.28. NetApp, Inc. has a 1 year low of $93.69 and a 1 year high of $192.83. The business has a 50-day moving average of $113.99 and a 200-day moving average of $108.41. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 1.84.

NetApp (NASDAQ:NTAP - Get Free Report) last released its quarterly earnings data 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 net margin of 18.43% and a return on equity of 117.23%. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter last year, the firm earned $1.93 EPS. The company'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. On average, equities analysts anticipate that NetApp, Inc. will post 7.14 EPS for the current year.

NetApp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Friday, July 10th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, July 10th. NetApp's payout ratio is 32.70%.

Insider Activity

In other 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 transaction 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction, the chief accounting officer owned 1,090 shares in the company, valued at $130,800. This trade represents a 20.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,275 shares of company stock worth $347,650 in the last quarter. 0.28% of the stock is currently owned by company insiders.

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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