Vest Financial LLC Purchases 21,498 Shares of NetApp, Inc. $NTAP

Key Points

• Vest Financial LLC increased its stake in NetApp by 63.9%, buying 21,498 shares to hold 55,128 shares worth about $5.904 million at the end of the quarter.
• NetApp beat quarterly estimates, reporting $2.12 EPS vs. $2.07 expected and $1.71 billion revenue vs. $1.70 billion, and issued FY2026 guidance of 7.920–8.020 EPS (Q4 2026 guidance 2.210–2.310 EPS).
• Analyst sentiment is mixed: MarketBeat shows an average rating of "Hold" with a $122.64 target (1 Strong Buy, 4 Buy, 9 Hold), while Goldman Sachs started coverage with a "Buy" and $128 target.

Vest Financial LLC raised its stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 63.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 55,128 shares of the data storage provider's stock after purchasing an additional 21,498 shares during the quarter. Vest Financial LLC's holdings in NetApp were worth $5,904,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Abich Financial Wealth Management LLC bought a new stake in NetApp during the 3rd quarter valued at approximately $27,000. Rossby Financial LCC raised its position in NetApp by 105.5% in the 3rd quarter. Rossby Financial LCC now owns 224 shares of the data storage provider's stock worth $27,000 after buying an additional 115 shares during the last quarter. JFS Wealth Advisors LLC lifted its stake in NetApp by 176.3% during the 4th quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider's stock valued at $34,000 after acquiring an additional 201 shares during the period. Torren Management LLC purchased a new stake in shares of NetApp during the 4th quarter valued at about $34,000. Finally, Measured Wealth Private Client Group LLC bought a new stake in shares of NetApp in the third quarter worth approximately $35,000. Hedge funds and other institutional investors own 92.17% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of NetApp in a report on Tuesday, January 13th. They issued a "buy" rating and a $128.00 target price on the stock. Weiss Ratings cut NetApp from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, March 13th. Wall Street Zen lowered NetApp from a "buy" rating to a "hold" rating in a report on Sunday, April 19th. Wedbush reiterated a "neutral" rating and set a $115.00 price objective on shares of NetApp in a research report on Wednesday, February 25th. Finally, Citigroup increased their target price on NetApp from $110.00 to $114.00 and gave the company a "neutral" rating in a report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, NetApp has an average rating of "Hold" and an average price target of $122.64.

Insider Transactions at NetApp

In other news, EVP Elizabeth M. O'callahan sold 1,000 shares of the firm's stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $96.25, for a total value of $96,250.00. Following the completion of the transaction, the executive vice president directly owned 19,382 shares in the company, valued at $1,865,517.50. This trade represents a 4.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders have sold 3,000 shares of company stock worth $300,370. Corporate insiders own 0.28% of the company's stock.

NetApp Price Performance

Shares of NTAP stock opened at $108.35 on Wednesday. The stock has a 50 day moving average price of $101.93 and a 200 day moving average price of $106.67. The firm has a market capitalization of $21.38 billion, a P/E ratio of 18.17, a P/E/G ratio of 3.36 and a beta of 1.30. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.36 and a current ratio of 1.39. NetApp, Inc. has a 52-week low of $86.70 and a 52-week high of $126.66.

NetApp (NASDAQ:NTAP - Get Free Report) last released its quarterly earnings data on Thursday, February 26th. The data storage provider reported $2.12 EPS for the quarter, topping the consensus estimate of $2.07 by $0.05. NetApp had a return on equity of 118.11% and a net margin of 18.07%.The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period last year, the business posted $1.91 EPS. NetApp's quarterly revenue was up 4.4% on a year-over-year basis. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. As a group, sell-side analysts predict that NetApp, Inc. will post 6.48 earnings per share for the current year.

NetApp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 22nd. Investors of record on Friday, April 3rd were paid a $0.52 dividend. The ex-dividend date was Thursday, April 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 1.9%. NetApp's dividend payout ratio (DPR) is 34.78%.

About NetApp

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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