Personal CFO Solutions LLC lifted its position in shares of NetApp, Inc. (NASDAQ:NTAP – Free Report) by 298.3% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 8,966 shares of the data storage provider’s stock after buying an additional 6,715 shares during the period. Personal CFO Solutions LLC’s holdings in NetApp were worth $918,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Park Square Financial Group LLC lifted its stake in shares of 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 during the period. Gen Wealth Partners Inc purchased a new stake in shares of NetApp in the fourth quarter valued at $30,000. DV Equities LLC purchased a new stake in shares of NetApp in the fourth quarter valued at $30,000. Roble Belko & Company Inc acquired a new position in NetApp in the first quarter valued at $31,000. Finally, JFS Wealth Advisors LLC increased its stake in NetApp by 176.3% in the fourth 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. Institutional investors and hedge funds own 92.17% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have issued reports on the company. Bank of America raised their price target on NetApp from $125.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Argus raised their target price on shares of NetApp from $130.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Morgan Stanley boosted their target price on shares of NetApp from $88.00 to $137.00 and gave the company an “underweight” rating in a report on Friday, May 29th. Weiss Ratings raised shares of NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, June 8th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $200.00 price target on shares of NetApp in a research note on Tuesday, June 2nd. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, NetApp presently has an average rating of “Hold” and an average target price of $169.33.
NetApp Stock Performance
NetApp stock opened at $171.73 on Friday. The stock’s 50-day moving average is $146.95 and its 200-day moving average is $118.27. The company has a market cap of $33.65 billion, a price-to-earnings ratio of 27.00, a price-to-earnings-growth ratio of 3.02 and a beta of 1.46. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.44 and a quick ratio of 1.39. NetApp, Inc. has a 12 month low of $93.69 and a 12 month high of $192.83.
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 (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.24). NetApp had a return on equity of 117.23% and a net margin of 18.43%.The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the previous year, the firm posted $1.93 EPS. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. Equities analysts anticipate that NetApp, Inc. will post 7.16 earnings per share for the current year.
NetApp Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, July 10th. NetApp’s payout ratio is 32.70%.
Insiders Place Their Bets
In other news, President Cesar Cernuda sold 49,464 shares of the firm’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 transaction, the president owned 46,806 shares of the company’s stock, valued at approximately $7,246,504.92. This trade represents a 51.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction 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 transaction, the executive vice president owned 32,297 shares in the company, valued at $5,279,913.56. The trade was a 3.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 51,964 shares of company stock worth $8,010,722 over the last ninety days. 0.28% of the stock is owned by company insiders.
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.
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