NetApp, Inc. $NTAP Stock: Crossmark Global Holdings Inc. Boosts Position

Crossmark Global Holdings Inc. boosted its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 11.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 127,768 shares of the data storage provider’s stock after buying an additional 12,803 shares during the period. Crossmark Global Holdings Inc.’s holdings in NetApp were worth $26,842,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NTAP. BlackRock Inc. purchased a new position in NetApp during the 2nd quarter valued at approximately $2,925,168,000. Primecap Management Co. CA bought a new stake in NetApp in the 2nd quarter worth approximately $1,395,423,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of NetApp by 9.4% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,444,057 shares of the data storage provider’s stock worth $687,762,000 after acquiring an additional 383,701 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of NetApp by 127.0% during the 1st quarter. First Trust Advisors LP now owns 3,658,066 shares of the data storage provider’s stock worth $374,549,000 after acquiring an additional 2,046,912 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of NetApp by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,129,773 shares of the data storage provider’s stock worth $218,065,000 after acquiring an additional 30,559 shares in the last quarter. 92.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Wedbush increased their target price on NetApp from $150.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, September 3rd. Morgan Stanley boosted their price target on shares of NetApp from $173.00 to $191.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 3rd. Weiss Ratings upgraded shares of NetApp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Northland Securities upped their price target on shares of NetApp from $171.00 to $187.00 and gave the company an “outperform” rating in a research note on Thursday, September 3rd. Finally, Barclays downgraded shares of NetApp from an “overweight” rating to an “equal weight” rating and set a $219.00 price target on the stock. in a research note on Wednesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $213.20.

Insiders Place Their Bets

In other news, Director Deepak Ahuja sold 3,450 shares of NetApp stock in a transaction that occurred 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 completion of the transaction, the director owned 12,814 shares in the company, valued at approximately $2,562,800. The trade was a 21.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Elizabeth O’Callahan sold 1,000 shares of NetApp stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $237.42, for a total value of $237,420.00. Following the completion of the transaction, the executive vice president owned 29,737 shares of the company’s stock, valued at approximately $7,060,158.54. This trade represents a 3.25% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, 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 Up 3.4%

Shares of NASDAQ:NTAP opened at $217.21 on Thursday. The company has a current ratio of 1.24, a quick ratio of 1.16 and a debt-to-equity ratio of 1.30. NetApp, Inc. has a 12 month low of $93.69 and a 12 month high of $240.87. The company has a 50-day moving average price of $202.67 and a 200 day moving average price of $166.00. The company has a market cap of $42.66 billion, a price-to-earnings ratio of 28.26, a PEG ratio of 2.26 and a beta of 1.46.

NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $1.84 billion. During the same quarter last year, the business posted $1.15 earnings per share. The firm’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. As a group, equities research analysts predict that NetApp, Inc. will post 8.32 earnings per share for the current year.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Friday, October 9th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend 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%.

NetApp 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.