Monetta Financial Services Inc. bought a new stake in NetApp, Inc. (NASDAQ:NTAP – Free Report) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 9,000 shares of the data storage provider’s stock, valued at approximately $1,393,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its position in shares of NetApp by 2.1% during the 4th quarter. Parallel Advisors LLC now owns 5,007 shares of the data storage provider’s stock valued at $536,000 after acquiring an additional 101 shares during the last quarter. Park Square Financial Group LLC boosted its position in shares of NetApp by 68.7% in 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 last quarter. Assetmark Inc. boosted its position in shares of NetApp by 3.0% in the 1st quarter. Assetmark Inc. now owns 3,540 shares of the data storage provider’s stock worth $362,000 after purchasing an additional 104 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of NetApp by 0.9% during the fourth quarter. Fifth Third Bancorp now owns 12,559 shares of the data storage provider’s stock worth $1,345,000 after purchasing an additional 108 shares during the period. Finally, Transamerica Financial Advisors LLC grew its stake in shares of NetApp by 16.8% during the fourth quarter. Transamerica Financial Advisors LLC now owns 833 shares of the data storage provider’s stock worth $89,000 after purchasing an additional 120 shares during the period. Institutional investors own 92.17% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have weighed in on NTAP shares. Barclays increased their target price on 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 price target on NetApp from $130.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, June 1st. UBS Group reiterated a “neutral” rating and issued a $160.00 price target on shares of NetApp in a research report on Friday, May 29th. Wall Street Zen lowered shares of NetApp from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 29th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of NetApp from $110.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Five research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $177.25.
NetApp Trading Down 5.0%
NTAP opened at $194.48 on Thursday. The stock has a market capitalization of $38.16 billion, a P/E ratio of 30.58, a P/E/G ratio of 3.67 and a beta of 1.45. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 1.84. NetApp, Inc. has a 12 month low of $93.69 and a 12 month high of $209.06. The firm’s fifty day simple moving average is $171.67 and its 200 day simple moving average is $133.81.
NetApp (NASDAQ:NTAP – Get Free Report) last released 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 the consensus estimate of $1.87 billion. During the same quarter last year, the company posted $1.93 EPS. NetApp’s revenue for the quarter 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. As a group, research analysts anticipate that NetApp, Inc. will post 7.3 EPS for the current fiscal year.
NetApp Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Stockholders of record on Friday, July 10th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, July 10th. NetApp’s dividend payout ratio (DPR) is currently 32.70%.
Insider Buying and Selling
In other news, CAO Lorenzo Daniel De sold 225 shares of the stock in a transaction on Monday, June 1st. The stock was 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 of the company’s stock, valued at approximately $186,488.10. This represents a 17.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $193.82, for a total value of $193,820.00. Following the completion of the transaction, the executive vice president owned 30,297 shares in the company, valued at $5,872,164.54. The trade was a 3.20% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 55,297 shares of company stock valued at $8,758,016. Company insiders own 0.36% of the company’s stock.
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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