Wills Financial Group LLC Has $1.66 Million Stock Holdings in NetApp, Inc. $NTAP

Wills Financial Group LLC boosted its position in NetApp, Inc. (NASDAQ:NTAP) by 27.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 16,161 shares of the data storage provider’s stock after purchasing an additional 3,488 shares during the period. Wills Financial Group LLC’s holdings in NetApp were worth $1,655,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Parallel Advisors LLC raised its stake in NetApp by 2.1% in the fourth quarter. Parallel Advisors LLC now owns 5,007 shares of the data storage provider’s stock valued at $536,000 after buying an additional 101 shares during the period. Park Square Financial Group LLC boosted its stake in shares of NetApp by 68.7% during the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock worth $29,000 after acquiring an additional 103 shares during the period. Assetmark Inc. boosted its stake in shares of NetApp by 3.0% during the 1st quarter. Assetmark Inc. now owns 3,540 shares of the data storage provider’s stock worth $362,000 after acquiring an additional 104 shares during the period. Transcend Capital Advisors LLC increased its holdings in shares of NetApp by 5.8% during the 4th quarter. Transcend Capital Advisors LLC now owns 1,953 shares of the data storage provider’s stock worth $209,000 after acquiring an additional 107 shares during the last quarter. Finally, Fifth Third Bancorp increased its holdings in shares of NetApp by 0.9% during the 4th quarter. Fifth Third Bancorp now owns 12,559 shares of the data storage provider’s stock worth $1,345,000 after acquiring an additional 108 shares during the last quarter. Institutional investors own 92.17% of the company’s stock.

Insider Buying and Selling

In related 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 value of $38,495.25. Following the completion of 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 filing with the SEC, which can be accessed through the SEC website. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction on Friday, July 10th. The shares were sold at an average price of $170.92, for a total value of $170,920.00. Following the transaction, the executive vice president owned 31,297 shares in the company, valued at approximately $5,349,283.24. This trade represents a 3.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 52,964 shares of company stock worth $8,181,642. 0.28% of the stock is owned by corporate insiders.

NetApp Trading Down 1.1%

NASDAQ:NTAP opened at $164.64 on Friday. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.44 and a quick ratio of 1.39. The firm has a 50-day moving average of $156.99 and a 200-day moving average of $122.23. The company has a market cap of $32.31 billion, a PE ratio of 25.89, a PEG ratio of 3.04 and a beta of 1.46. NetApp, Inc. has a one year low of $93.69 and a one year high of $192.83.

NetApp (NASDAQ:NTAP) last announced 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 business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. NetApp had a net margin of 18.43% and a return on equity of 117.23%. NetApp’s revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the business posted $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. As a group, equities research analysts expect that NetApp, Inc. will post 7.16 EPS for the current fiscal year.

NetApp Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. NetApp’s payout ratio is presently 32.70%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on NTAP shares. Argus raised their price target on NetApp from $130.00 to $200.00 and gave the company a “buy” rating in a report on Monday, June 1st. Wall Street Zen raised shares of NetApp from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. JPMorgan Chase & Co. raised their target price on shares of NetApp from $110.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $200.00 target price on shares of NetApp in a report on Tuesday, June 2nd. Finally, Weiss Ratings upgraded shares of NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Five equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $169.33.

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.