NetApp, Inc. $NTAP Shares Sold by Lido Advisors LLC

Lido Advisors LLC decreased its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 54.2% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 4,432 shares of the data storage provider’s stock after selling 5,252 shares during the period. Lido Advisors LLC’s holdings in NetApp were worth $454,000 as of its most recent SEC filing.

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

Insider Activity

In related news, 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 transaction of $33,000.00. Following the transaction, the chief accounting officer owned 1,090 shares in the company, valued at approximately $130,800. The trade was a 20.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Cesar Cernuda sold 49,464 shares of NetApp stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $154.82, for a total transaction of $7,658,016.48. Following the transaction, the president owned 46,806 shares in the company, valued at $7,246,504.92. The trade was a 51.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 52,964 shares of company stock valued at $8,181,642. Company insiders own 0.28% of the company’s stock.

NetApp Stock Performance

NASDAQ NTAP opened at $173.98 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. NetApp, Inc. has a 1-year low of $93.69 and a 1-year high of $192.83. The firm has a market capitalization of $34.14 billion, a P/E ratio of 27.36, a P/E/G ratio of 3.16 and a beta of 1.46. The business’s 50-day simple moving average is $162.10 and its 200-day simple moving average is $124.57.

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 analysts’ consensus estimates of $2.27 by ($0.24). NetApp had a return on equity of 117.23% and a net margin of 18.43%.The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period last year, the company posted $1.93 EPS. The firm’s revenue for the quarter 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. Equities analysts predict that NetApp, Inc. will post 7.16 EPS for the current year.

NetApp Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. UBS Group reiterated a “neutral” rating and set a $160.00 price objective on shares of NetApp in a 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 report on Friday, May 29th. Wall Street Zen lowered shares of NetApp from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Barclays increased their price target on shares of NetApp from $120.00 to $199.00 and gave the stock an “overweight” rating in a research note on Friday, May 29th. Finally, Argus lifted their price target on shares of NetApp from $130.00 to $200.00 and gave the company a “buy” rating in a report on Monday, June 1st. Five investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $169.33.

About NetApp

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.