Diversify Advisory Services LLC Buys New Stake in NetApp, Inc. $NTAP

Diversify Advisory Services LLC bought a new stake in shares of NetApp, Inc. (NASDAQ:NTAP) during the 2nd quarter, Holdings Channel reports. The firm bought 3,515 shares of the data storage provider’s stock, valued at approximately $597,000.

A number of other institutional investors also recently added to or reduced their stakes in NTAP. Parallel Advisors LLC increased its holdings in shares of NetApp by 2.1% during 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 holdings in NetApp by 68.7% in the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock worth $29,000 after purchasing an additional 103 shares during the period. Assetmark Inc. lifted its holdings in NetApp by 3.0% in the first quarter. Assetmark Inc. now owns 3,540 shares of the data storage provider’s stock worth $362,000 after purchasing an additional 104 shares during the period. Fifth Third Bancorp grew its position 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 in the last quarter. Finally, Transamerica Financial Advisors LLC grew its position in NetApp by 16.8% in the 4th quarter. Transamerica Financial Advisors LLC now owns 833 shares of the data storage provider’s stock valued at $89,000 after buying an additional 120 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

NetApp Price Performance

Shares of NASDAQ NTAP opened at $192.81 on Friday. NetApp, Inc. has a twelve month low of $93.69 and a twelve month high of $209.06. 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 company has a market capitalization of $37.84 billion, a price-to-earnings ratio of 30.32, a PEG ratio of 3.49 and a beta of 1.45. The firm has a 50-day moving average of $172.32 and a two-hundred day moving average of $134.48.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data 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). The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.87 billion. NetApp had a return on equity of 117.23% and a net margin of 18.43%.The business’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the prior year, the firm earned $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, analysts expect that NetApp, Inc. will post 7.3 earnings per share for the current fiscal year.

NetApp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Investors of record on Friday, July 10th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, July 10th. NetApp’s dividend payout ratio (DPR) is presently 32.70%.

Insiders Place Their Bets

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $193.82, for a total value of $193,820.00. Following the transaction, the executive vice president owned 30,297 shares of the company’s stock, valued at approximately $5,872,164.54. This represents a 3.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Cesar Cernuda sold 49,464 shares of the stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $154.82, for a total value of $7,658,016.48. Following the sale, the president owned 46,806 shares of the company’s stock, valued at $7,246,504.92. This trade represents a 51.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 55,297 shares of company stock worth $8,758,016. 0.36% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have commented on NTAP. JPMorgan Chase & Co. boosted their price target on shares of NetApp from $110.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Argus increased their price objective on shares of NetApp from $130.00 to $200.00 and gave the company a “buy” rating in a report on Monday, June 1st. Weiss Ratings upgraded shares of NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Bank of America boosted their target price on NetApp from $125.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Finally, Citigroup upped their target price on NetApp from $150.00 to $209.00 and gave the stock a “neutral” rating in a research report on Tuesday. Five research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $177.25.

NetApp 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.