4,424 Shares in NetApp, Inc. $NTAP Purchased by Focused Alpha LLC

Focused Alpha LLC bought a new position in NetApp, Inc. (NASDAQ:NTAP) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 4,424 shares of the data storage provider’s stock, valued at approximately $685,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geneos Wealth Management Inc. grew its stake in NetApp by 38.3% during the first quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider’s stock valued at $67,000 after acquiring an additional 210 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in NetApp in the 2nd quarter worth approximately $315,000. Cerity Partners LLC lifted its stake in NetApp by 9.9% in the 2nd quarter. Cerity Partners LLC now owns 46,792 shares of the data storage provider’s stock worth $4,986,000 after purchasing an additional 4,232 shares in the last quarter. Bank of Nova Scotia boosted its holdings in NetApp by 7.3% in the 2nd quarter. Bank of Nova Scotia now owns 24,301 shares of the data storage provider’s stock valued at $2,589,000 after purchasing an additional 1,662 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in NetApp by 12.7% in the 2nd quarter. NewEdge Advisors LLC now owns 20,161 shares of the data storage provider’s stock valued at $2,148,000 after purchasing an additional 2,277 shares during the period. 92.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Argus upped their price target on shares of NetApp from $130.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Weiss Ratings raised NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Wall Street Zen cut NetApp from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 29th. UBS Group reaffirmed a “neutral” rating and issued a $160.00 price target on shares of NetApp in a report on Friday, May 29th. Finally, Susquehanna lifted their price target on NetApp from $110.00 to $185.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Five investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $172.33.

NetApp Price Performance

Shares of NetApp stock opened at $204.20 on Tuesday. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 1.84. The firm has a market capitalization of $40.07 billion, a PE ratio of 32.11, a price-to-earnings-growth ratio of 3.72 and a beta of 1.45. The business’s 50-day moving average price is $170.20 and its 200-day moving average price is $132.39. NetApp, Inc. has a 12 month low of $93.69 and a 12 month high of $209.06.

NetApp (NASDAQ:NTAP) last released its earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.24). The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. NetApp had a return on equity of 117.23% and a net margin of 18.43%.The business’s quarterly 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 EPS. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. Sell-side analysts forecast that NetApp, Inc. will post 7.3 EPS for the current fiscal year.

NetApp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. NetApp’s dividend payout ratio (DPR) is 32.70%.

Insider Transactions at NetApp

In other news, President Cesar Cernuda sold 49,464 shares of the company’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $154.82, for a total value of $7,658,016.48. Following the completion of the sale, the president owned 46,806 shares of the company’s stock, valued at approximately $7,246,504.92. This represents a 51.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $193.82, for a total transaction of $193,820.00. Following the transaction, the executive vice president directly owned 30,297 shares in the company, valued at approximately $5,872,164.54. This represents a 3.20% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 52,689 shares of company stock worth $8,224,732. 0.36% of the stock is currently owned by 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.