NetApp, Inc. $NTAP Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA boosted its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 17.9% in the third quarter, Holdings Channel.com reports. The fund owned 266,632 shares of the data storage provider’s stock after acquiring an additional 40,412 shares during the quarter. Pictet Asset Management Holding SA’s holdings in NetApp were worth $56,014,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of NTAP. BlackRock Inc. bought a new position in NetApp in the 2nd quarter valued at $2,925,168,000. Primecap Management Co. CA bought a new stake in shares of NetApp during the second quarter worth $1,395,423,000. First Trust Advisors LP lifted its position in shares of NetApp by 127.0% during the first quarter. First Trust Advisors LP now owns 3,658,066 shares of the data storage provider’s stock worth $374,549,000 after purchasing an additional 2,046,912 shares during the last quarter. Legal & General Group Plc purchased a new stake in shares of NetApp during the second quarter valued at $258,093,000. Finally, Bank of America Corp DE purchased a new stake in shares of NetApp during the second quarter valued at $235,682,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NTAP. Susquehanna upped their price target on shares of NetApp from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Thursday, September 3rd. Morgan Stanley lifted their price objective on shares of NetApp from $173.00 to $191.00 and gave the company an “equal weight” rating in a report on Thursday, September 3rd. Northland Securities lifted their price objective on shares of NetApp from $171.00 to $187.00 and gave the company an “outperform” rating in a report on Thursday, September 3rd. Barclays cut shares of NetApp from an “overweight” rating to an “equal weight” rating and set a $219.00 price objective for the company. in a research report on Wednesday, October 14th. Finally, UBS Group upped their target price on shares of NetApp from $160.00 to $171.00 and gave the stock a “neutral” rating in a research note on Thursday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $205.24.

NetApp Trading Up 4.1%

Shares of NASDAQ NTAP opened at $176.07 on Tuesday. The company has a quick ratio of 1.16, a current ratio of 1.24 and a debt-to-equity ratio of 1.30. The business has a fifty day simple moving average of $203.98 and a two-hundred day simple moving average of $152.32. The firm has a market cap of $34.58 billion, a PE ratio of 24.83, a price-to-earnings-growth ratio of 2.02 and a beta of 1.52. NetApp, Inc. has a twelve month low of $93.69 and a twelve month high of $240.87.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 EPS for the quarter, beating the consensus estimate of $2.12 by $0.46. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.84 billion. NetApp had a return on equity of 119.13% and a net margin of 19.18%. The business’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.15 earnings per share. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. Analysts expect that NetApp, Inc. will post 8.32 earnings per share for the current fiscal year.

NetApp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 28th. Shareholders of record on Friday, October 9th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, October 9th. NetApp’s dividend payout ratio is presently 29.34%.

Insider Buying and Selling at NetApp

In other news, Director Thomas Nevens sold 5,940 shares of the business’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $195.21, for a total value of $1,159,547.40. Following the completion of the sale, the director owned 7,747 shares in the company, valued at approximately $1,512,291.87. The trade was a 43.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Deepak Ahuja sold 3,526 shares of the stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $194.04, for a total transaction of $684,185.04. Following the transaction, the director owned 16,264 shares in the company, valued at approximately $3,155,866.56. This represents a 17.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 172,524 shares of company stock worth $34,824,306. 0.36% of the stock is currently owned by company insiders.

NetApp Profile

NetApp, Inc develops data storage and data management technologies for businesses and other organizations. Its offerings support workloads across on-premises infrastructure, public cloud environments and hybrid settings, with services for storing, managing, protecting and moving data.

The company’s portfolio includes its ONTAP data management software, all-flash and hybrid-flash storage systems, object storage, and cloud storage and data services. NetApp also provides tools to help customers manage data across different environments and offers infrastructure through its Keystone storage-as-a-service model.

Founded in 1992 as Network Appliance, the company adopted the NetApp name in 2008.