Personal CFO Solutions LLC Increases Holdings in NetApp, Inc. $NTAP

Key Points

• Personal CFO Solutions LLC increased its NetApp stake by 298.3% in the first quarter, ending with 8,966 shares valued at about $918,000.
• Several institutional investors also boosted or initiated positions in NetApp, and institutional ownership remains high at 92.17% of the company’s stock.
• NetApp reported earnings below expectations for the latest quarter, even as revenue rose 12.5% year over year; meanwhile, analysts currently have a Hold consensus with a target price of $169.33.

Personal CFO Solutions LLC boosted its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 298.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,966 shares of the data storage provider's stock after buying an additional 6,715 shares during the quarter. Personal CFO Solutions LLC's holdings in NetApp were worth $918,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of NTAP. Geneos Wealth Management Inc. lifted its holdings in NetApp by 38.3% in the first quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider's stock valued at $67,000 after acquiring an additional 210 shares during the period. Sivia Capital Partners LLC acquired a new stake in NetApp in the 2nd quarter worth about $315,000. Cerity Partners LLC boosted its stake in shares of NetApp by 9.9% in the second quarter. Cerity Partners LLC now owns 46,792 shares of the data storage provider's stock worth $4,986,000 after acquiring an additional 4,232 shares during the last quarter. Bank of Nova Scotia grew its holdings in shares of NetApp by 7.3% during the second quarter. Bank of Nova Scotia now owns 24,301 shares of the data storage provider's stock worth $2,589,000 after buying an additional 1,662 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in NetApp by 12.7% in the 2nd quarter. NewEdge Advisors LLC now owns 20,161 shares of the data storage provider's stock valued at $2,148,000 after acquiring an additional 2,277 shares during the last quarter. Institutional investors and hedge funds own 92.17% of the company's stock.

Analyst Ratings Changes

NTAP has been the subject of a number of recent research reports. UBS Group reaffirmed a "neutral" rating and issued a $160.00 target price on shares of NetApp in a research note on Friday, May 29th. Susquehanna boosted their price objective on NetApp from $110.00 to $185.00 and gave the company a "neutral" rating in a report on Friday, May 29th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $200.00 target price on shares of NetApp in a research note on Tuesday, June 2nd. Argus lifted their price objective on NetApp from $130.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, June 1st. Finally, Bank of America increased their target price on NetApp from $125.00 to $150.00 and gave the company a "neutral" rating in a report on Friday, May 29th. Five research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $169.33.

Insider Buying and Selling

In other NetApp news, President Cesar Cernuda sold 49,464 shares of the firm's stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $154.82, for a total transaction of $7,658,016.48. Following the completion of the transaction, the president owned 46,806 shares of the company's stock, valued at approximately $7,246,504.92. This trade represents a 51.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Elizabeth M. O'callahan sold 1,000 shares of the firm's stock in a transaction 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 directly owned 32,297 shares of the company's stock, valued at $5,279,913.56. The trade was a 3.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 51,964 shares of company stock worth $8,010,722 in the last ninety days. Insiders own 0.28% of the company's stock.

NetApp Price Performance

Shares of NASDAQ:NTAP opened at $171.73 on Friday. The firm has a market capitalization of $33.65 billion, a price-to-earnings ratio of 27.00, a price-to-earnings-growth ratio of 3.02 and a beta of 1.46. 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 business's 50 day simple moving average is $146.95 and its 200-day simple moving average is $118.27. 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 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). The firm had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.87 billion. NetApp had a net margin of 18.43% and a return on equity of 117.23%. The business's revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.93 earnings per share. 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 7.16 earnings per share for the current fiscal 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 paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, July 10th. NetApp's dividend payout ratio (DPR) 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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