NetApp, Inc. $NTAP Holdings Cut by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC cut its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 32.2% in the 1st quarter, Holdings Channel reports. The firm owned 9,870 shares of the data storage provider’s stock after selling 4,688 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in NetApp were worth $1,011,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Park Square Financial Group LLC boosted its position in NetApp by 68.7% during the 4th 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 during the period. Gen Wealth Partners Inc acquired a new stake in NetApp in the fourth quarter worth $30,000. DV Equities LLC acquired a new stake in NetApp in the fourth quarter worth $30,000. Measured Wealth Private Client Group LLC bought a new stake in NetApp in the third quarter valued at $35,000. Finally, Roble Belko & Company Inc bought a new stake in NetApp in the first quarter valued at $31,000. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $117.73, for a total transaction of $117,730.00. Following the completion of the transaction, the executive vice president directly owned 18,382 shares of the company’s stock, valued at approximately $2,164,112.86. This trade represents a 5.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Lorenzo Daniel De sold 275 shares of NetApp stock in a transaction on Monday, May 18th. The shares were sold at an average price of $120.00, for a total value of $33,000.00. Following the transaction, the chief accounting officer owned 1,090 shares in the company, valued at approximately $130,800. This trade represents a 20.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 52,964 shares of company stock worth $8,106,972 over the last three months. Corporate insiders own 0.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NTAP. Morgan Stanley upped their price target on shares of NetApp from $88.00 to $137.00 and gave the stock an “underweight” rating in a research report on Friday, May 29th. UBS Group reiterated a “neutral” rating and issued a $160.00 price objective on shares of NetApp in a research report on Friday, May 29th. Susquehanna boosted their target price on shares of NetApp from $110.00 to $185.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Argus raised their price target on shares of NetApp from $130.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, June 1st. Finally, Northland Securities lifted their price target on NetApp from $137.00 to $171.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $169.33.

NetApp Trading Up 1.0%

NASDAQ:NTAP opened at $156.38 on Thursday. The stock has a market cap of $30.64 billion, a price-to-earnings ratio of 24.59, a PEG ratio of 2.83 and a beta of 1.46. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.39 and a current ratio of 1.44. NetApp, Inc. has a 1 year low of $93.69 and a 1 year high of $192.83. The business has a fifty day moving average of $140.58 and a 200-day moving average of $116.17.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Thursday, May 28th. The data storage provider reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.24). The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.87 billion. NetApp had a return on equity of 117.23% and a net margin of 18.43%.The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.93 EPS. 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 predict that NetApp, Inc. will post 7.16 earnings per share for the current year.

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Friday, July 10th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, July 10th. NetApp’s dividend payout ratio is currently 32.70%.

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.