Resona Asset Management Co. Ltd. Purchases 3,146 Shares of NetApp, Inc. $NTAP

Resona Asset Management Co. Ltd. boosted its position in NetApp, Inc. (NASDAQ:NTAP) by 5.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,633 shares of the data storage provider’s stock after buying an additional 3,146 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in NetApp were worth $6,706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Geneos Wealth Management Inc. boosted its stake in shares of 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 purchasing an additional 210 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in NetApp in the 2nd quarter worth $315,000. Cerity Partners LLC raised its position in NetApp by 9.9% in the 2nd quarter. Cerity Partners LLC now owns 46,792 shares of the data storage provider’s stock worth $4,986,000 after purchasing an additional 4,232 shares during the period. Bank of Nova Scotia lifted its stake in NetApp by 7.3% in the second quarter. Bank of Nova Scotia now owns 24,301 shares of the data storage provider’s stock worth $2,589,000 after purchasing an additional 1,662 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its stake in NetApp by 12.7% in the second quarter. NewEdge Advisors LLC now owns 20,161 shares of the data storage provider’s stock worth $2,148,000 after purchasing an additional 2,277 shares during the last quarter. 92.17% of the stock is currently owned by institutional investors.

NetApp Stock Down 1.7%

Shares of NTAP traded down $2.86 on Friday, reaching $168.87. The stock had a trading volume of 3,302,832 shares, compared to its average volume of 2,894,544. The firm has a market capitalization of $33.09 billion, a price-to-earnings ratio of 26.55, a price-to-earnings-growth ratio of 3.09 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. The company has a 50-day simple moving average of $148.15 and a 200-day simple moving average of $118.63. NetApp, Inc. has a 12-month low of $93.69 and a 12-month high of $192.83.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results 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 firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.87 billion. NetApp had a return on equity of 117.23% and a net margin of 18.43%.NetApp’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.93 earnings per share. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. Sell-side analysts predict that NetApp, Inc. will post 7.16 EPS for the current year.

NetApp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Friday, July 10th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. NetApp’s dividend payout ratio is currently 32.70%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Bank of America lifted their price objective on NetApp from $125.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Argus increased their target price on NetApp from $130.00 to $200.00 and gave the company a “buy” rating in a report on Monday, June 1st. UBS Group restated a “neutral” rating and set a $160.00 price target on shares of NetApp in a research report on Friday, May 29th. JPMorgan Chase & Co. lifted their price target on NetApp from $110.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Finally, Wedbush boosted their price objective on NetApp from $115.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Five equities research 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 data from MarketBeat, NetApp has an average rating of “Hold” and an average target price of $169.33.

Insider Buying and Selling

In other NetApp news, CAO Lorenzo Daniel De sold 275 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $120.00, for a total value of $33,000.00. Following the sale, the chief accounting officer owned 1,090 shares in the company, valued at approximately $130,800. This represents a 20.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $163.48, for a total transaction of $163,480.00. Following the transaction, the executive vice president directly owned 32,297 shares of the company’s stock, valued at $5,279,913.56. This represents a 3.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 51,964 shares of company stock worth $8,010,722 in the last three months. 0.28% of the stock is owned by corporate insiders.

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.