6,116 Shares in NetApp, Inc. $NTAP Acquired by Greenland Capital Management LP

Greenland Capital Management LP bought a new stake in NetApp, Inc. (NASDAQ:NTAP) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 6,116 shares of the data storage provider’s stock, valued at approximately $947,000.

A number of other large investors have also recently bought and sold shares of the stock. West Financial Advisors LLC purchased a new stake in shares of NetApp in the second quarter valued at $37,000. Park Square Financial Group LLC increased its position 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 worth $29,000 after purchasing an additional 103 shares in the last quarter. Gen Wealth Partners Inc purchased a new stake in NetApp during the 4th quarter worth about $30,000. DV Equities LLC acquired a new position in NetApp in the 4th quarter valued at about $30,000. Finally, Measured Wealth Private Client Group LLC acquired a new position in NetApp in the 3rd quarter valued at about $35,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insider Buying and Selling

In related news, President Cesar Cernuda sold 49,464 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $154.82, for a total transaction of $7,658,016.48. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was 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 SEC filing for this sale provides additional information. Over the last quarter, insiders sold 55,297 shares of company stock valued at $8,758,016. Insiders own 0.36% of the company’s stock.

NetApp Stock Down 0.3%

Shares of NASDAQ:NTAP opened at $192.27 on Friday. 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 cap of $37.73 billion, a price-to-earnings ratio of 30.23, a PEG ratio of 3.45 and a beta of 1.45. The stock’s 50-day moving average price is $172.93 and its two-hundred day moving average price is $134.89. NetApp, Inc. has a 12-month low of $93.69 and a 12-month high of $209.06.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Thursday, May 28th. The data storage provider reported $2.03 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.24). The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. NetApp had a net margin of 18.43% and a return on equity of 117.23%. The company’s revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the company 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. On average, research analysts forecast that NetApp, Inc. will post 7.32 EPS for the current year.

NetApp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Investors of record on Friday, July 10th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, July 10th. NetApp’s payout ratio is presently 32.70%.

Wall Street Analysts Forecast Growth

NTAP has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on shares of NetApp from $110.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Barclays lifted their price target on shares of NetApp from $120.00 to $199.00 and gave the stock an “overweight” rating in a report on Friday, May 29th. The Goldman Sachs Group reissued a “buy” rating and set a $200.00 price objective on shares of NetApp in a research note on Tuesday, June 2nd. Wedbush lifted their target price on shares of NetApp from $115.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Finally, Wells Fargo & Company boosted their price target on NetApp from $115.00 to $180.00 and gave the company an “equal weight” rating in a report on Friday, May 29th. Five equities research 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.com, the company presently has a consensus rating of “Hold” and an average target price of $177.25.

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.