29,444 Shares in NetApp, Inc. $NTAP Bought by Fideuram Intesa Sanpaolo Private Banking S.P.A.

Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in NetApp, Inc. (NASDAQ:NTAP) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 29,444 shares of the data storage provider’s stock, valued at approximately $3,015,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. increased its position in NetApp by 38.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider’s stock valued at $67,000 after buying an additional 210 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in NetApp in the second quarter valued at approximately $315,000. Cerity Partners LLC grew its stake in NetApp by 9.9% in the second quarter. Cerity Partners LLC now owns 46,792 shares of the data storage provider’s stock valued at $4,986,000 after acquiring an additional 4,232 shares during the period. Bank of Nova Scotia increased its holdings in shares of NetApp by 7.3% during the second quarter. Bank of Nova Scotia now owns 24,301 shares of the data storage provider’s stock valued at $2,589,000 after acquiring an additional 1,662 shares in the last quarter. Finally, NewEdge Advisors LLC increased its holdings in shares of NetApp by 12.7% during the second quarter. NewEdge Advisors LLC now owns 20,161 shares of the data storage provider’s stock valued at $2,148,000 after acquiring an additional 2,277 shares in the last quarter. 92.17% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, President Cesar Cernuda sold 49,464 shares of NetApp stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $154.82, for a total transaction of $7,658,016.48. Following the sale, the president directly owned 46,806 shares in the company, valued at $7,246,504.92. The trade was a 51.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Lorenzo Daniel De sold 225 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $171.09, for a total transaction of $38,495.25. Following the completion of the transaction, the chief accounting officer directly owned 1,090 shares in the company, valued at $186,488.10. This trade represents a 17.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 52,964 shares of company stock worth $8,106,972. 0.28% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on NTAP shares. Northland Securities increased their target price on NetApp from $137.00 to $171.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Barclays upped their price objective on shares of NetApp from $120.00 to $199.00 and gave the stock an “overweight” rating in a report on Friday, May 29th. JPMorgan Chase & Co. raised their price objective on shares of NetApp from $110.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Bank of America lifted their price objective on shares of NetApp from $125.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $200.00 target price on shares of NetApp in a report on Tuesday, June 2nd. Five 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. Based on data from MarketBeat.com, NetApp has a consensus rating of “Hold” and a consensus price target of $169.33.

NetApp Price Performance

Shares of NASDAQ:NTAP opened at $154.17 on Friday. 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 stock has a market cap of $30.20 billion, a PE ratio of 24.24, a price-to-earnings-growth ratio of 2.82 and a beta of 1.46. The stock’s fifty day simple moving average is $142.29 and its two-hundred day simple moving average is $116.71. NetApp, Inc. has a 1-year low of $93.69 and a 1-year high of $192.83.

NetApp (NASDAQ:NTAP) last posted its earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the company earned $1.93 EPS. The business’s revenue 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. As a group, analysts forecast that NetApp, Inc. will post 7.16 EPS for the current fiscal year.

NetApp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Investors 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 dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, July 10th. NetApp’s dividend payout ratio (DPR) is presently 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.