NetApp, Inc. $NTAP Stake Lifted by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 30.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 845,036 shares of the data storage provider’s stock after purchasing an additional 197,922 shares during the period. Hsbc Holdings PLC’s holdings in NetApp were worth $90,556,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Parallel Advisors LLC raised its holdings in NetApp by 2.1% during the fourth quarter. Parallel Advisors LLC now owns 5,007 shares of the data storage provider’s stock worth $536,000 after purchasing an additional 101 shares in the last quarter. Park Square Financial Group LLC boosted 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 valued at $29,000 after purchasing an additional 103 shares in the last quarter. Transcend Capital Advisors LLC increased its position in shares of NetApp by 5.8% during the 4th 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 during the period. Fifth Third Bancorp increased its position in shares of NetApp by 0.9% during the 4th 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 during the period. Finally, US Bancorp DE raised its stake in shares of NetApp by 0.7% in the 3rd quarter. US Bancorp DE now owns 15,398 shares of the data storage provider’s stock worth $1,824,000 after buying an additional 114 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

NetApp Price Performance

Shares of NASDAQ:NTAP opened at $159.71 on Monday. NetApp, Inc. has a one year low of $93.69 and a one year high of $192.83. The stock has a fifty day moving average of $131.77 and a 200-day moving average of $114.00. The company has a market capitalization of $31.29 billion, a PE ratio of 25.11, a price-to-earnings-growth ratio of 2.92 and a beta of 1.44. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.39 and a current ratio of 1.44.

NetApp (NASDAQ:NTAP) last issued its earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 117.23% and a net margin of 18.43%.The business’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous 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 anticipate that NetApp, Inc. will post 7.16 EPS for the current fiscal year.

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Investors of record on Friday, July 10th will be given a $0.52 dividend. The ex-dividend date is Friday, July 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.3%. NetApp’s dividend payout ratio (DPR) is 32.70%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NTAP. Citigroup upped their price objective on NetApp from $114.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Morgan Stanley boosted their price target on shares of NetApp from $88.00 to $137.00 and gave the stock an “underweight” rating in a research report on Friday, May 29th. Susquehanna upped their price target on shares of NetApp from $110.00 to $185.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Wall Street Zen upgraded shares of NetApp from a “hold” rating to a “strong-buy” rating in a research report on Saturday, June 13th. Finally, Wells Fargo & Company lifted their price objective 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. Five investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $169.33.

Insider Transactions at NetApp

In other NetApp news, CAO Lorenzo Daniel De sold 275 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $120.00, for a total transaction of $33,000.00. Following the completion of the sale, the chief accounting officer directly owned 1,090 shares of the company’s stock, valued at approximately $130,800. This represents a 20.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $117.73, for a total transaction of $117,730.00. Following the completion of the transaction, the executive vice president owned 18,382 shares of the company’s stock, valued at approximately $2,164,112.86. The trade was a 5.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 3,500 shares of company stock worth $448,955 in the last three months. 0.28% of the stock is currently owned by company insiders.

NetApp 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.