Private Wealth Asset Management LLC Has $490,000 Holdings in NetApp, Inc. $NTAP

Key Points

• Private Wealth Asset Management LLC significantly increased its stake in NetApp by 95.3% during Q2, now holding shares valued at $490,000.
• NetApp CEO George Kurian sold 8,750 shares of the company on September 17th, decreasing his ownership by 3.08% and leaving him with shares valued at approximately $33.79 million.
• Analysts have set varied price targets for NetApp, with JPMorgan Chase raising its target to $130.00, while the average target price is currently around $121.40.

Private Wealth Asset Management LLC raised its position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 95.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,596 shares of the data storage provider's stock after purchasing an additional 2,243 shares during the period. Private Wealth Asset Management LLC's holdings in NetApp were worth $490,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Farther Finance Advisors LLC lifted its stake in NetApp by 62.8% in the first quarter. Farther Finance Advisors LLC now owns 1,141 shares of the data storage provider's stock valued at $102,000 after acquiring an additional 440 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of NetApp by 6.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 51,950 shares of the data storage provider's stock valued at $4,563,000 after purchasing an additional 3,196 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of NetApp by 12.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 2,311 shares of the data storage provider's stock valued at $203,000 after purchasing an additional 261 shares during the last quarter. Mission Wealth Management LP increased its position in NetApp by 17.8% during the first quarter. Mission Wealth Management LP now owns 4,352 shares of the data storage provider's stock worth $382,000 after buying an additional 658 shares during the last quarter. Finally, QRG Capital Management Inc. raised its holdings in NetApp by 73.9% during the first quarter. QRG Capital Management Inc. now owns 91,685 shares of the data storage provider's stock valued at $8,054,000 after buying an additional 38,961 shares in the last quarter. Institutional investors own 92.17% of the company's stock.

Insiders Place Their Bets

In other news, CEO George Kurian sold 8,750 shares of the company's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $122.91, for a total transaction of $1,075,462.50. Following the sale, the chief executive officer owned 274,938 shares in the company, valued at $33,792,629.58. This represents a 3.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Lorenzo Daniel De sold 779 shares of the firm's stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $121.87, for a total transaction of $94,936.73. The disclosure for this sale can be found here. Insiders have sold 29,529 shares of company stock valued at $3,362,874 in the last 90 days. 0.28% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on NTAP. JPMorgan Chase & Co. upped their price objective on shares of NetApp from $115.00 to $130.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Morgan Stanley set a $117.00 price objective on NetApp in a research report on Thursday, August 28th. Wedbush reiterated a "neutral" rating and set a $110.00 target price on shares of NetApp in a research report on Friday, October 10th. Barclays lifted their target price on NetApp from $117.00 to $125.00 and gave the stock an "overweight" rating in a report on Thursday, August 28th. Finally, UBS Group upped their target price on shares of NetApp from $108.00 to $114.00 and gave the stock a "neutral" rating in a research note on Thursday, August 28th. Seven analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, NetApp presently has an average rating of "Hold" and an average target price of $121.40.

NetApp Stock Performance

Shares of NTAP opened at $121.47 on Thursday. The stock has a market capitalization of $24.25 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 2.62 and a beta of 1.45. NetApp, Inc. has a 12 month low of $71.84 and a 12 month high of $135.45. The firm has a fifty day simple moving average of $116.85 and a 200 day simple moving average of $104.16. The company has a current ratio of 1.31, a quick ratio of 1.28 and a debt-to-equity ratio of 2.55.

NetApp (NASDAQ:NTAP - Get Free Report) last issued its quarterly earnings results on Wednesday, August 27th. The data storage provider reported $1.19 EPS for the quarter, missing the consensus estimate of $1.54 by ($0.35). NetApp had a return on equity of 123.24% and a net margin of 17.77%.The business had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same period last year, the firm earned $1.56 earnings per share. The company's quarterly revenue was up 1.2% compared to the same quarter last year. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. Research analysts forecast that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, October 3rd. NetApp's dividend payout ratio (DPR) is currently 36.75%.

NetApp Company Profile

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.

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