NewEdge Wealth LLC Takes $597,000 Position in NetApp, Inc. $NTAP

NewEdge Wealth LLC purchased a new stake in shares of NetApp, Inc. (NASDAQ:NTAP) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 5,575 shares of the data storage provider’s stock, valued at approximately $597,000.

Other hedge funds have also added to or reduced their stakes in the company. Rossby Financial LCC boosted its stake in NetApp by 105.5% during the 3rd quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 115 shares during the last quarter. Abich Financial Wealth Management LLC acquired a new position in NetApp during the 3rd quarter valued at about $27,000. Measured Wealth Private Client Group LLC acquired a new position in NetApp during the 3rd quarter valued at about $35,000. JFS Wealth Advisors LLC boosted its stake in NetApp by 176.3% during the 4th quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider’s stock valued at $34,000 after purchasing an additional 201 shares during the last quarter. Finally, Torren Management LLC acquired a new position in NetApp during the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

NetApp Price Performance

NetApp stock opened at $119.93 on Friday. NetApp, Inc. has a 52 week low of $93.69 and a 52 week high of $126.66. The company’s 50 day moving average price is $105.21 and its two-hundred day moving average price is $106.50. The company has a quick ratio of 1.36, a current ratio of 1.39 and a debt-to-equity ratio of 2.15. The stock has a market cap of $23.67 billion, a P/E ratio of 20.06, a P/E/G ratio of 3.40 and a beta of 1.28.

NetApp (NASDAQ:NTAP) last posted its earnings results on Thursday, February 26th. The data storage provider reported $2.12 EPS for the quarter, topping the consensus estimate of $2.07 by $0.05. NetApp had a net margin of 18.07% and a return on equity of 118.11%. The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter last year, the firm earned $1.91 EPS. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. On average, equities analysts predict that NetApp, Inc. will post 6.48 earnings per share for the current year.

NetApp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 22nd. Shareholders of record on Friday, April 3rd were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $2.08 annualized dividend and a dividend yield of 1.7%. NetApp’s dividend payout ratio (DPR) is currently 34.78%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wall Street Zen downgraded NetApp from a “buy” rating to a “hold” rating in a research note on Sunday, April 19th. Wedbush reiterated a “neutral” rating and set a $115.00 price target on shares of NetApp in a research note on Wednesday, February 25th. Citigroup downgraded NetApp from a “neutral” rating to a “mixed” rating in a research note on Thursday. Weiss Ratings downgraded NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 13th. Finally, JPMorgan Chase & Co. downgraded NetApp from an “overweight” rating to a “neutral” rating and cut their price target for the company from $125.00 to $110.00 in a research note on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $122.64.

Insider Activity at NetApp

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $117.73, for a total value of $117,730.00. Following the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 3,000 shares of company stock valued at $314,650. Insiders own 0.28% of the company’s stock.

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.