Tobam boosted its stake in shares of NetApp, Inc. (NASDAQ:NTAP – Free Report) by 854.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,926 shares of the data storage provider’s stock after acquiring an additional 7,991 shares during the period. Tobam’s holdings in NetApp were worth $956,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Rossby Financial LCC grew its holdings in shares of NetApp by 105.5% during the 3rd quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 115 shares in the last quarter. Park Square Financial Group LLC raised its stake in NetApp by 68.7% in the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock valued at $29,000 after purchasing an additional 103 shares in the last quarter. Gen Wealth Partners Inc acquired a new position in NetApp in the fourth quarter valued at about $30,000. DV Equities LLC bought a new stake in NetApp during the fourth quarter worth about $30,000. Finally, Measured Wealth Private Client Group LLC bought a new stake in NetApp during the third quarter worth about $35,000. 92.17% of the stock is currently owned by institutional investors.
Insider Activity at NetApp
In related news, CAO Lorenzo Daniel De sold 225 shares of NetApp stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $171.09, for a total transaction of $38,495.25. Following the sale, the chief accounting officer directly owned 1,090 shares in the company, valued at $186,488.10. This trade represents a 17.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $163.48, for a total transaction of $163,480.00. Following the completion of the transaction, the executive vice president owned 32,297 shares of the company’s stock, valued at approximately $5,279,913.56. This trade represents a 3.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 3,500 shares of company stock worth $448,955. 0.28% of the stock is owned by corporate insiders.
NetApp Price Performance
NetApp (NASDAQ:NTAP – Get Free Report) last issued 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). NetApp had a net margin of 18.43% and a return on equity of 117.23%. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the prior year, the business earned $1.93 EPS. The business’s quarterly revenue was up 12.5% on a year-over-year basis. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. Research analysts anticipate that NetApp, Inc. will post 7.16 EPS for the current fiscal year.
NetApp Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 29th. Investors of record on Friday, July 10th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, July 10th. NetApp’s dividend payout ratio (DPR) is 32.70%.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on NTAP shares. The Goldman Sachs Group restated a “buy” rating and issued a $200.00 target price on shares of NetApp in a research report on Tuesday, June 2nd. Barclays lifted their price objective on shares of NetApp from $120.00 to $199.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. Argus upped their target price on NetApp from $130.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. Weiss Ratings raised NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Finally, Morgan Stanley lifted their price target on NetApp from $88.00 to $137.00 and gave the company an “underweight” rating in a research note on Friday, May 29th. Five investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $169.33.
Check Out Our Latest Stock Report on NetApp
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.
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