Vise Technologies Inc. Makes New $993,000 Investment in NetApp, Inc. $NTAP

Key Points

• Vise Technologies acquired 6,418 NetApp shares worth approximately $993,000 in the second quarter. Institutional investors collectively own 92.17% of the company.
• NetApp insiders sold 55,297 shares valued at $8.76 million over the past 90 days, while the company’s president separately sold 2,608 shares for about $533,000.
• NetApp reported $1.95 billion in quarterly revenue, up 12.5% year over year, but earnings of $2.03 per share missed estimates. Analysts maintain a consensus “Hold” rating with an average price target of $177.25, and the company pays a quarterly dividend of $0.52.

Vise Technologies Inc. purchased a new position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,418 shares of the data storage provider's stock, valued at approximately $993,000.

Several other hedge funds and other institutional investors have also made changes to their positions in NTAP. Parallel Advisors LLC boosted its holdings in NetApp by 2.1% in the fourth quarter. Parallel Advisors LLC now owns 5,007 shares of the data storage provider's stock valued at $536,000 after purchasing an additional 101 shares during the period. Park Square Financial Group LLC grew its stake in NetApp by 68.7% during the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider's stock worth $29,000 after purchasing an additional 103 shares in the last quarter. Assetmark Inc. increased its holdings in NetApp by 3.0% during the 1st quarter. Assetmark Inc. now owns 3,540 shares of the data storage provider's stock worth $362,000 after purchasing an additional 104 shares during the period. Fifth Third Bancorp increased its holdings in NetApp by 0.9% during the 4th quarter. Fifth Third Bancorp now owns 12,559 shares of the data storage provider's stock worth $1,345,000 after purchasing an additional 108 shares during the period. Finally, Transamerica Financial Advisors LLC raised its position in NetApp by 16.8% in the 4th quarter. Transamerica Financial Advisors LLC now owns 833 shares of the data storage provider's stock valued at $89,000 after purchasing an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 92.17% of the company's stock.

Insider Activity

In other news, President Cesar Cernuda sold 2,608 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $204.48, for a total value of $533,283.84. Following the completion of the sale, the president directly owned 46,530 shares of the company's stock, valued at approximately $9,514,454.40. This represents a 5.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Lorenzo Daniel De sold 225 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $171.09, for a total transaction of $38,495.25. Following the transaction, the chief accounting officer owned 1,090 shares in the company, valued at approximately $186,488.10. This trade represents a 17.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 55,297 shares of company stock valued at $8,758,016. 0.36% of the stock is currently owned by company insiders.

NetApp Trading Down 0.3%

Shares of NetApp stock opened at $192.27 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 1.84. The company has a fifty day simple moving average of $172.93 and a 200-day simple moving average of $134.89. The stock has a market cap of $37.73 billion, a price-to-earnings ratio of 30.23, a PEG ratio of 3.45 and a beta of 1.45. NetApp, Inc. has a 12-month low of $93.69 and a 12-month high of $209.06.

NetApp (NASDAQ:NTAP - Get Free Report) last announced its quarterly earnings results on Thursday, May 28th. The data storage provider reported $2.03 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.24). The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. NetApp had a return on equity of 117.23% and a net margin of 18.43%.NetApp's revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior 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. On average, equities analysts forecast that NetApp, Inc. will post 7.32 EPS for the current fiscal year.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th were paid a $0.52 dividend. The ex-dividend date was Friday, July 10th. This represents a $2.08 dividend on an annualized basis and a yield of 1.1%. NetApp's payout ratio is currently 32.70%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NTAP. JPMorgan Chase & Co. lifted their price objective on NetApp from $110.00 to $150.00 and gave the company a "neutral" rating in a research note on Friday, May 29th. Bank of America raised their target price on shares of NetApp from $125.00 to $150.00 and gave the company a "neutral" rating in a report on Friday, May 29th. Wells Fargo & Company lifted their price target on shares of NetApp from $115.00 to $180.00 and gave the stock an "equal weight" rating in a research note on Friday, May 29th. Wedbush boosted their price target on shares of NetApp from $115.00 to $150.00 and gave the stock a "neutral" rating in a report on Friday, May 29th. Finally, Weiss Ratings raised shares of NetApp from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, June 8th. Five research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $177.25.

NetApp Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source