Gulf International Bank UK Ltd lowered its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 21.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,810 shares of the data storage provider's stock after selling 3,229 shares during the period. Gulf International Bank UK Ltd's holdings in NetApp were worth $1,037,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Manchester Capital Management LLC raised its holdings in NetApp by 375.0% in the first quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider's stock worth $25,000 after buying an additional 225 shares during the last quarter. Olde Wealth Management LLC purchased a new position in NetApp in the first quarter worth about $29,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in NetApp by 54.9% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 350 shares of the data storage provider's stock worth $31,000 after buying an additional 124 shares during the last quarter. Itau Unibanco Holding S.A. raised its holdings in NetApp by 929.6% in the fourth quarter. Itau Unibanco Holding S.A. now owns 278 shares of the data storage provider's stock worth $32,000 after buying an additional 251 shares during the last quarter. Finally, Coppell Advisory Solutions LLC raised its holdings in NetApp by 50.0% in the fourth quarter. Coppell Advisory Solutions LLC now owns 300 shares of the data storage provider's stock worth $35,000 after buying an additional 100 shares during the last quarter. Institutional investors own 92.17% of the company's stock.
NetApp Price Performance
Shares of NASDAQ NTAP traded down $1.8080 during midday trading on Wednesday, reaching $107.3520. The stock had a trading volume of 1,199,398 shares, compared to its average volume of 2,020,524. The stock has a 50-day moving average of $105.42 and a 200-day moving average of $100.65. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.22 and a current ratio of 1.25. The company has a market capitalization of $21.51 billion, a price-to-earnings ratio of 18.89, a price-to-earnings-growth ratio of 2.50 and a beta of 1.44. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $135.45.
NetApp (NASDAQ:NTAP - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The data storage provider reported $1.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.90 by $0.03. The firm had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.72 billion. NetApp had a net margin of 18.05% and a return on equity of 126.96%. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.80 earnings per share. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q1 2026 guidance at 1.480-1.580 EPS. As a group, research analysts anticipate that NetApp, Inc. will post 5.89 EPS for the current fiscal year.
NetApp Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd were given a dividend of $0.52 per share. The ex-dividend date was Thursday, July 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.9%. NetApp's dividend payout ratio is currently 36.62%.
Insider Buying and Selling
In related news, CAO Lorenzo Daniel De sold 302 shares of the company's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $98.77, for a total transaction of $29,828.54. Following the completion of the transaction, the chief accounting officer owned 455 shares in the company, valued at approximately $44,940.35. This represents a 39.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Elizabeth M. O'callahan sold 1,000 shares of the company's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $105.90, for a total transaction of $105,900.00. Following the transaction, the executive vice president owned 23,251 shares of the company's stock, valued at approximately $2,462,280.90. This represents a 4.12% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,302 shares of company stock worth $2,026,379. 0.28% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Several research analysts have issued reports on the stock. Wedbush reaffirmed a "neutral" rating and issued a $110.00 target price on shares of NetApp in a report on Friday, May 30th. UBS Group lowered their target price on NetApp from $115.00 to $108.00 and set a "neutral" rating on the stock in a report on Friday, May 30th. JPMorgan Chase & Co. raised their target price on NetApp from $115.00 to $130.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Barclays raised their target price on NetApp from $115.00 to $117.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. Finally, Wells Fargo & Company reduced their target price on shares of NetApp from $115.00 to $100.00 and set an "equal weight" rating for the company in a report on Friday, May 30th. Six equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $119.21.
Read Our Latest Research Report on NTAP
About NetApp
(
Free Report)
NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.
See Also
Before you consider NetApp, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NetApp wasn't on the list.
While NetApp currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
MarketBeat All Access