NetApp, Inc. $NTAP Stock Acquired by Vise Technologies Inc.

Vise Technologies Inc. grew its holdings in NetApp, Inc. (NASDAQ:NTAP) by 76.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,318 shares of the data storage provider’s stock after acquiring an additional 4,900 shares during the quarter. Vise Technologies Inc.’s holdings in NetApp were worth $2,378,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in NTAP. West Financial Advisors LLC acquired a new stake in NetApp during the second quarter worth about $37,000. Fortitude Family Office LLC increased its holdings in NetApp by 56.9% in the 3rd quarter. Fortitude Family Office LLC now owns 204 shares of the data storage provider’s stock worth $43,000 after purchasing an additional 74 shares in the last quarter. Bell Investment Advisors Inc acquired a new position in shares of NetApp in the second quarter valued at approximately $55,000. Elevation Wealth Partners LLC raised its stake in shares of NetApp by 90.8% during the third quarter. Elevation Wealth Partners LLC now owns 292 shares of the data storage provider’s stock valued at $61,000 after acquiring an additional 139 shares during the last quarter. Finally, Compass Financial Management LLC bought a new position in NetApp during the 2nd quarter worth $70,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insiders Place Their Bets

In other NetApp news, Director Deepak Ahuja sold 3,450 shares of the business’s stock in a transaction on Monday, September 21st. The stock was sold at an average price of $200.00, for a total value of $690,000.00. Following the sale, the director directly owned 12,814 shares in the company, valued at $2,562,800. The trade was a 21.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Carrie Palin sold 5,000 shares of NetApp stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $216.43, for a total value of $1,082,150.00. Following the completion of the sale, the director directly owned 6,660 shares of the company’s stock, valued at approximately $1,441,423.80. This trade represents a 42.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 173,524 shares of company stock valued at $35,018,126. Company insiders own 0.36% of the company’s stock.

NetApp Stock Down 9.7%

Shares of NASDAQ:NTAP opened at $169.38 on Friday. The business’s 50 day moving average is $204.63 and its 200 day moving average is $151.55. NetApp, Inc. has a 12-month low of $93.69 and a 12-month high of $240.87. The stock has a market cap of $33.27 billion, a price-to-earnings ratio of 23.89, a PEG ratio of 2.02 and a beta of 1.52. The company has a quick ratio of 1.16, a current ratio of 1.24 and a debt-to-equity ratio of 1.30.

NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.46. The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.84 billion. NetApp had a return on equity of 119.13% and a net margin of 19.18%. NetApp’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.15 EPS. 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 forecast that NetApp, Inc. will post 8.32 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 28th. Investors of record on Friday, October 9th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, October 9th. NetApp’s dividend payout ratio (DPR) is 29.34%.

Wall Street Analysts Forecast Growth

NTAP has been the topic of a number of recent analyst reports. Guggenheim started coverage on shares of NetApp in a research report on Monday, October 26th. They issued a “neutral” rating on the stock. Daiwa Securities Group raised their target price on NetApp from $180.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, September 16th. Zacks Research raised NetApp from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 9th. Bank of America upped their price target on NetApp from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 30th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $240.00 price target (up from $210.00) on shares of NetApp in a report on Tuesday, October 6th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, NetApp currently has an average rating of “Moderate Buy” and a consensus price target of $205.24.

NetApp Company Profile

NetApp, Inc is a data infrastructure and cloud storage company that helps organizations manage, protect and access data across on-premises data centers, public clouds and hybrid environments. Its offerings support enterprise applications, artificial intelligence workloads, business analytics, backup and disaster recovery.

The company’s portfolio includes all-flash and hybrid-flash storage systems, the ONTAP data management operating system, StorageGRID object storage and Keystone storage-as-a-service.