Mizuho Markets Cayman LP lifted its stake in NetApp, Inc. (NASDAQ:NTAP – Free Report) by 12.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,860 shares of the data storage provider’s stock after purchasing an additional 4,680 shares during the period. Mizuho Markets Cayman LP’s holdings in NetApp were worth $4,184,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Park Square Financial Group LLC raised its holdings 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 acquiring an additional 103 shares in the last quarter. Gen Wealth Partners Inc purchased a new position in NetApp in the fourth quarter worth approximately $30,000. DV Equities LLC acquired a new position in NetApp during the 4th quarter worth approximately $30,000. Roble Belko & Company Inc acquired a new position in NetApp during the 1st quarter worth approximately $31,000. Finally, JFS Wealth Advisors LLC increased its position in shares of NetApp by 176.3% in the 4th 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. Hedge funds and other institutional investors own 92.17% of the company’s stock.
Insider Activity
In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $170.92, for a total value of $170,920.00. Following the completion of the sale, the executive vice president directly owned 31,297 shares of the company’s stock, valued at $5,349,283.24. This represents a 3.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Cesar Cernuda sold 49,464 shares of NetApp stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $154.82, for a total value of $7,658,016.48. Following the transaction, the president directly owned 46,806 shares in the company, valued at approximately $7,246,504.92. This trade represents a 51.38% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 52,964 shares of company stock valued at $8,181,642. Insiders own 0.28% of the company’s stock.
Wall Street Analyst Weigh In
Read Our Latest Stock Report on NTAP
NetApp Stock Up 0.5%
Shares of NASDAQ:NTAP opened at $166.54 on Thursday. The firm has a 50 day simple moving average of $156.10 and a 200-day simple moving average of $121.82. NetApp, Inc. has a twelve month low of $93.69 and a twelve month high of $192.83. 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 company has a market capitalization of $32.68 billion, a PE ratio of 26.19, a P/E/G ratio of 3.03 and a beta of 1.46.
NetApp (NASDAQ:NTAP – Get Free Report) last announced its quarterly 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 analysts’ expectations of $1.87 billion. During the same period last year, the firm earned $1.93 earnings per share. NetApp’s 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. On average, equities analysts predict that NetApp, Inc. will post 7.16 EPS for the current fiscal year.
NetApp Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Friday, July 10th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, July 10th. NetApp’s payout ratio is presently 32.70%.
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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