Diversified Trust Co lessened its stake in NetApp, Inc. (NASDAQ:NTAP – Free Report) by 23.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,927 shares of the data storage provider’s stock after selling 9,975 shares during the quarter. Diversified Trust Co’s holdings in NetApp were worth $6,707,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of NetApp during the 2nd quarter worth approximately $2,925,168,000. Primecap Management Co. CA acquired a new stake in shares of NetApp in the 2nd quarter worth approximately $1,395,423,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in NetApp by 9.4% in 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 valued at $687,762,000 after purchasing an additional 383,701 shares in the last quarter. First Trust Advisors LP increased its stake in NetApp by 127.0% in the 1st quarter. First Trust Advisors LP now owns 3,658,066 shares of the data storage provider’s stock valued at $374,549,000 after purchasing an additional 2,046,912 shares in the last quarter. Finally, Aberdeen Group plc increased its stake in NetApp by 1,069.3% in the 3rd quarter. Aberdeen Group plc now owns 2,738,944 shares of the data storage provider’s stock valued at $575,397,000 after purchasing an additional 2,504,699 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on NTAP shares. Wedbush lifted their price objective on NetApp from $150.00 to $170.00 and gave the stock a “neutral” rating in a report on Thursday, September 3rd. Weiss Ratings lowered NetApp from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday. Zacks Research cut NetApp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Guggenheim began coverage on NetApp in a research report on Monday, October 26th. They issued a “neutral” rating for the company. Finally, Cantor Fitzgerald raised shares of NetApp to an “overweight” rating in a research note on Wednesday, October 7th. Eleven equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.24.
Get Our Latest Stock Analysis on NTAP
NetApp Trading Down 2.5%
Shares of NetApp stock opened at $181.37 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.24 and a quick ratio of 1.16. NetApp, Inc. has a 1 year low of $93.69 and a 1 year high of $240.87. The company has a market capitalization of $35.62 billion, a P/E ratio of 25.58, a P/E/G ratio of 2.00 and a beta of 1.52. The business has a 50 day moving average price of $203.82 and a 200 day moving average price of $153.98.
NetApp (NASDAQ:NTAP – Get Free Report) last posted its earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.46. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.84 billion. NetApp had a return on equity of 119.13% and a net margin of 19.18%. NetApp’s revenue was up 29.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.15 EPS. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. Sell-side analysts anticipate that NetApp, Inc. will post 8.32 EPS for the current fiscal year.
NetApp Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 28th. Stockholders of record on Friday, October 9th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, October 9th. NetApp’s payout ratio is 29.34%.
Insider Buying and Selling
In related news, CEO George Kurian sold 50,000 shares of the stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of $209.95, for a total transaction of $10,497,500.00. Following the sale, the chief executive officer owned 218,537 shares of the company’s stock, valued at $45,881,843.15. This trade represents a 18.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Deepak Ahuja sold 3,526 shares of NetApp stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $194.04, for a total value of $684,185.04. Following the sale, the director owned 16,264 shares of the company’s stock, valued at approximately $3,155,866.56. This represents a 17.82% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 173,524 shares of company stock valued at $35,000,256. Company insiders own 0.36% of the company’s stock.
NetApp Profile
NetApp, Inc. develops data storage and data management technologies for businesses and other organizations. Its offerings support workloads across on-premises infrastructure, public cloud environments and hybrid settings, with services for storing, managing, protecting and moving data. The company’s portfolio includes its ONTAP data management software, all-flash and hybrid-flash storage systems, object storage, and cloud storage and data services. NetApp also provides tools to help customers manage data across different environments and offers infrastructure through its Keystone storage-as-a-service model.
Read More
- Five stocks we like better than NetApp
- Nu Holdings Earnings Show a Compounder Priced Like a Brazil Bet
- Game On: The Hidden Value in Take-Two’s Stock
- LightPath Technologies’ Record Backlog Highlights a Bigger Defense Opportunity
- A 10-Stock Strategy That Balances AI Growth With Cash Flow
Want to see what other hedge funds are holding NTAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NetApp, Inc. (NASDAQ:NTAP – Free Report).
Receive News & Ratings for NetApp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetApp and related companies with MarketBeat.com's FREE daily email newsletter.
