NetApp, Inc. $NTAP Shares Purchased by Raiffeisen Bank International AG

Raiffeisen Bank International AG increased its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 8.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 63,676 shares of the data storage provider’s stock after acquiring an additional 4,845 shares during the quarter. Raiffeisen Bank International AG’s holdings in NetApp were worth $6,904,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of NTAP. Parallel Advisors LLC grew its stake 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 in the last quarter. Park Square Financial Group LLC grew its stake in NetApp by 68.7% in the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock valued at $29,000 after purchasing an additional 103 shares in the last quarter. Transcend Capital Advisors LLC grew its stake in NetApp by 5.8% in the fourth quarter. Transcend Capital Advisors LLC now owns 1,953 shares of the data storage provider’s stock valued at $209,000 after purchasing an additional 107 shares in the last quarter. Fifth Third Bancorp grew its stake in NetApp by 0.9% in the fourth quarter. Fifth Third Bancorp now owns 12,559 shares of the data storage provider’s stock valued at $1,345,000 after purchasing an additional 108 shares in the last quarter. Finally, US Bancorp DE grew its stake in NetApp by 0.7% in the third quarter. US Bancorp DE now owns 15,398 shares of the data storage provider’s stock valued at $1,824,000 after purchasing an additional 114 shares in the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

NetApp Price Performance

Shares of NASDAQ NTAP opened at $160.47 on Friday. The stock has a market capitalization of $31.44 billion, a PE ratio of 25.23, a P/E/G ratio of 2.94 and a beta of 1.45. 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 has a fifty day moving average price of $124.72 and a two-hundred day moving average price of $111.92. NetApp, Inc. has a fifty-two week low of $93.69 and a fifty-two week high of $192.83.

NetApp (NASDAQ:NTAP) last announced 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 company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.87 billion. NetApp had a net margin of 18.43% and a return on equity of 117.23%. NetApp’s revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the firm 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 predict that NetApp, Inc. will post 7.16 earnings per share for the current fiscal year.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.08 annualized dividend and a yield of 1.3%. NetApp’s payout ratio is currently 32.70%.

Insider Buying and Selling at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction on Monday, May 11th. The stock was sold at an average price of $117.73, for a total value of $117,730.00. Following the completion of the transaction, the executive vice president directly owned 18,382 shares of the company’s stock, valued at $2,164,112.86. The trade was a 5.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lorenzo Daniel De sold 275 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $120.00, for a total value of $33,000.00. Following the transaction, the chief accounting officer directly owned 1,090 shares of the company’s stock, valued at $130,800. This trade represents a 20.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 2,500 shares of company stock valued at $285,475 over the last ninety days. Insiders own 0.28% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on NTAP. UBS Group restated a “neutral” rating and issued a $160.00 price target on shares of NetApp in a research note on Friday, May 29th. Citigroup lifted their price target on NetApp from $114.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Wall Street Zen cut NetApp from a “buy” rating to a “hold” rating in a report on Sunday, April 19th. The Goldman Sachs Group reissued a “buy” rating and set a $200.00 price target on shares of NetApp in a report on Tuesday, June 2nd. Finally, Northland Securities lifted their price target on NetApp from $137.00 to $171.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, NetApp currently has a consensus rating of “Hold” and an average target price of $169.33.

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.