Quantbot Technologies LP purchased a new stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 10,132 shares of the data storage provider's stock, valued at approximately $1,568,000.
A number of other large investors have also recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in NetApp in the 2nd quarter worth approximately $2,925,168,000. State Street Corp boosted its position in NetApp by 1.1% in the fourth quarter. State Street Corp now owns 10,192,354 shares of the data storage provider's stock worth $1,091,499,000 after purchasing an additional 115,451 shares during the last quarter. Wellington Management Group LLP boosted its position in NetApp by 17.1% in the third quarter. Wellington Management Group LLP now owns 4,915,553 shares of the data storage provider's stock worth $582,296,000 after purchasing an additional 718,409 shares during the last quarter. Norges Bank bought a new stake in shares of NetApp during the 4th quarter valued at about $458,060,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of NetApp by 17.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,127,533 shares of the data storage provider's stock valued at $442,018,000 after purchasing an additional 611,003 shares during the period. 92.17% of the stock is currently owned by institutional investors.
NetApp Stock Down 2.8%
Shares of NTAP opened at $186.86 on Tuesday. The business's 50 day moving average is $173.43 and its 200 day moving average is $135.80. 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, Inc. has a 12-month low of $93.69 and a 12-month high of $209.06. The company has a market capitalization of $36.67 billion, a PE ratio of 29.38, a price-to-earnings-growth ratio of 3.44 and a beta of 1.45.
NetApp (NASDAQ:NTAP - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. NetApp had a return on equity of 117.23% and a net margin of 18.43%.The company's revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company 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. Research analysts expect that NetApp, Inc. will post 7.32 earnings per share for the current fiscal year.
NetApp Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Investors of record on Friday, July 10th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, July 10th. NetApp's dividend payout ratio (DPR) is presently 32.70%.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on NTAP. Morgan Stanley upgraded shares of NetApp from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $137.00 to $173.00 in a research note on Monday, August 10th. Weiss Ratings upgraded NetApp from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, June 8th. Susquehanna raised their target price on NetApp from $110.00 to $185.00 and gave the stock a "neutral" rating in a report on Friday, May 29th. Evercore set a $210.00 target price on NetApp in a research report on Monday. Finally, Wedbush upped their price target on NetApp from $115.00 to $150.00 and gave the stock a "neutral" rating in a research report on Friday, May 29th. Five investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $179.77.
Read Our Latest Report on NetApp
Insider Buying and Selling at NetApp
In other news, CAO Lorenzo Daniel De sold 225 shares of the firm's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $171.09, for a total transaction of $38,495.25. Following the completion of the transaction, the chief accounting officer owned 1,090 shares in the company, valued at $186,488.10. This trade represents a 17.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Elizabeth M. O'callahan sold 1,000 shares of NetApp stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $193.82, for a total value of $193,820.00. Following the completion of the sale, the executive vice president directly owned 30,297 shares in the company, valued at $5,872,164.54. This trade represents a 3.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 55,297 shares of company stock worth $8,758,016. Insiders own 0.36% of the company's stock.
NetApp Company Profile
(
Free Report)
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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