NetApp, Inc. $NTAP Shares Bought by Kepler Cheuvreux Suisse SA

Key Points

• Kepler Cheuvreux Suisse SA increased its NetApp stake by 25.6% in the first quarter, buying 35,701 additional shares and bringing its total holding to 175,017 shares worth about $17.9 million.
• Several analysts raised their price targets on NetApp, but the overall Wall Street view remains cautious: the stock carries a consensus Hold rating with an average price target of $169.33.
• NetApp posted mixed quarterly results, missing earnings estimates but beating revenue expectations, while also announcing a quarterly dividend of $0.52 per share payable on July 29.

Kepler Cheuvreux Suisse SA grew its stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 25.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 175,017 shares of the data storage provider's stock after buying an additional 35,701 shares during the quarter. Kepler Cheuvreux Suisse SA owned 0.09% of NetApp worth $17,920,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Park Square Financial Group LLC lifted its stake in NetApp by 68.7% in the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider's stock worth $29,000 after acquiring an additional 103 shares during the last quarter. Gen Wealth Partners Inc purchased a new stake in shares of NetApp in the 4th quarter valued at approximately $30,000. DV Equities LLC purchased a new stake in shares of NetApp in the 4th quarter valued at approximately $30,000. Roble Belko & Company Inc acquired a new stake in shares of NetApp in the 1st quarter valued at $31,000. Finally, JFS Wealth Advisors LLC raised its holdings in shares of NetApp by 176.3% in the 4th quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider's stock valued at $34,000 after purchasing an additional 201 shares in the last quarter. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NTAP has been the subject of several recent analyst reports. Northland Securities lifted their price objective on shares of NetApp from $137.00 to $171.00 and gave the stock an "outperform" rating in a research report on Friday, May 29th. Susquehanna increased their target price on NetApp from $110.00 to $185.00 and gave the company a "neutral" rating in a report on Friday, May 29th. Barclays raised their price target on NetApp from $120.00 to $199.00 and gave the company an "overweight" rating in a research note on Friday, May 29th. Wells Fargo & Company lifted their price target on NetApp from $115.00 to $180.00 and gave the stock an "equal weight" rating in a report on Friday, May 29th. Finally, UBS Group reiterated a "neutral" rating and issued a $160.00 price objective on shares of NetApp in a report on Friday, May 29th. Five analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $169.33.

Insider Activity

In related news, President Cesar Cernuda sold 49,464 shares of the company's stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $154.82, for a total value of $7,658,016.48. Following the completion of the sale, the president directly owned 46,806 shares of the company's stock, valued at $7,246,504.92. This represents a 51.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Elizabeth M. O'callahan sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $163.48, for a total value of $163,480.00. Following the transaction, the executive vice president owned 32,297 shares in the company, valued at $5,279,913.56. This represents a 3.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 52,964 shares of company stock valued at $8,106,972. Insiders own 0.28% of the company's stock.

NetApp Stock Performance

NASDAQ NTAP opened at $154.17 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's fifty day moving average price is $142.29 and its 200 day moving average price is $116.71. The company has a market capitalization of $30.20 billion, a price-to-earnings ratio of 24.24, a price-to-earnings-growth ratio of 2.82 and a beta of 1.46. NetApp, Inc. has a 12 month low of $93.69 and a 12 month high of $192.83.

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 analysts' consensus estimates of $2.27 by ($0.24). NetApp had a net margin of 18.43% and a return on equity of 117.23%. The company had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.87 billion. During the same period last year, the firm earned $1.93 earnings per share. NetApp's revenue 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, sell-side analysts expect that NetApp, Inc. will post 7.16 earnings per share for the current fiscal year.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Friday, July 10th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, July 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.3%. NetApp's payout ratio is 32.70%.

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.

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