2,470 Shares of NetApp, Inc. $NTAP Bought by Pension & Wealth Management Advisors Inc.

Pension & Wealth Management Advisors Inc. bought a new stake in NetApp, Inc. (NASDAQ:NTAP) during the third quarter, HoldingsChannel.com reports. The fund bought 2,470 shares of the data storage provider’s stock, valued at approximately $519,000.

Other hedge funds have also bought and sold shares of the company. Roble Belko & Company Inc bought a new position in NetApp during the first quarter worth about $31,000. West Financial Advisors LLC bought a new stake in NetApp in the second quarter valued at approximately $37,000. Fortitude Family Office LLC lifted its position in shares of NetApp by 56.9% in the third quarter. Fortitude Family Office LLC now owns 204 shares of the data storage provider’s stock valued at $43,000 after buying an additional 74 shares during the last quarter. Bell Investment Advisors Inc acquired a new stake in shares of NetApp in the second quarter valued at approximately $55,000. Finally, Elevation Wealth Partners LLC lifted its position in shares of NetApp by 90.8% in the third quarter. Elevation Wealth Partners LLC now owns 292 shares of the data storage provider’s stock valued at $61,000 after buying an additional 139 shares during the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NetApp

In other NetApp news, President Cesar Cernuda sold 2,608 shares of the company’s stock in a transaction 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 transaction, the president directly owned 46,530 shares of the company’s stock, valued at $9,514,454.40. This represents a 5.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Deepak Ahuja sold 3,526 shares of the stock in a transaction on Monday, September 14th. The stock was sold at an average price of $194.04, for a total value of $684,185.04. Following the transaction, the director owned 16,264 shares in the company, valued at $3,155,866.56. The trade was a 17.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 173,524 shares of company stock worth $35,018,126. 0.36% of the stock is currently owned by company insiders.

NetApp Stock Performance

NetApp stock traded down $10.90 during trading hours on Friday, hitting $203.80. The company had a trading volume of 3,217,450 shares, compared to its average volume of 2,725,941. The firm has a 50-day moving average of $201.97 and a 200 day moving average of $163.26. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.24 and a quick ratio of 1.16. The firm has a market cap of $40.03 billion, a PE ratio of 28.74, a PEG ratio of 2.31 and a beta of 1.46. NetApp, Inc. has a one year low of $93.69 and a one year high of $240.87.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Wednesday, September 2nd. The data storage provider reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.46. NetApp had a return on equity of 119.13% and a net margin of 19.18%. The company had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the previous year, the company posted $1.15 earnings per share. The business’s revenue was up 29.9% on a year-over-year basis. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. On average, sell-side analysts expect that NetApp, Inc. will post 8.32 earnings per share for the current year.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Friday, October 9th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, October 9th. NetApp’s dividend payout ratio (DPR) is presently 29.34%.

Wall Street Analysts Forecast Growth

NTAP has been the subject of several research analyst reports. Loop Capital set a $300.00 target price on NetApp in a research note on Wednesday, October 7th. Wedbush increased their price target on NetApp from $150.00 to $170.00 and gave the company a “neutral” rating in a research note on Thursday, September 3rd. Northland Securities raised their price target on NetApp from $171.00 to $187.00 and gave the company an “outperform” rating in a report on Thursday, September 3rd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $240.00 price objective on shares of NetApp in a research report on Tuesday, October 6th. Finally, Wall Street Zen upgraded shares of NetApp from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $213.20.

About NetApp

NetApp, Inc develops intelligent data infrastructure and data management solutions for enterprises, service providers, and government organizations. The company helps customers store, manage, protect, and access data across on-premises environments, private clouds, public clouds, and hybrid multicloud infrastructures.

Its portfolio includes enterprise storage systems, all-flash arrays, cloud-connected storage, object storage, and data management software. NetApp’s offerings include the ONTAP data management operating system, AFF and ASA storage systems, StorageGRID object storage, and BlueXP, a platform designed to help customers manage data and storage resources across multiple environments.