Fairvoy Private Wealth LLC Purchases 7,489 Shares of NetApp, Inc. $NTAP

Fairvoy Private Wealth LLC purchased a new stake in NetApp, Inc. (NASDAQ:NTAP) during the third quarter, Holdings Channel reports. The firm purchased 7,489 shares of the data storage provider’s stock, valued at approximately $1,573,000.

A number of other large investors have also recently bought and sold shares of NTAP. SteelPeak Wealth LLC acquired a new stake in NetApp in the 3rd quarter valued at about $476,000. IFP Advisors Inc lifted its position in shares of NetApp by 46.0% during the third quarter. IFP Advisors Inc now owns 3,912 shares of the data storage provider’s stock worth $822,000 after purchasing an additional 1,233 shares in the last quarter. Absolute Capital Management LLC acquired a new position in shares of NetApp during the third quarter worth approximately $303,000. USA Financial Formulas acquired a new position in shares of NetApp during the third quarter worth approximately $985,000. Finally, Hutchens & Kramer Investment Management Group LLC grew its stake in shares of NetApp by 4.4% during the third quarter. Hutchens & Kramer Investment Management Group LLC now owns 1,935 shares of the data storage provider’s stock valued at $407,000 after purchasing an additional 82 shares during the last quarter. 92.17% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other NetApp news, Director Carrie Palin sold 5,000 shares of NetApp stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $216.43, for a total transaction of $1,082,150.00. Following the completion of the sale, the director owned 6,660 shares of the company’s stock, valued at approximately $1,441,423.80. The trade was a 42.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Cesar Cernuda sold 2,608 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $204.48, for a total transaction of $533,283.84. Following the sale, the president owned 46,530 shares of the company’s stock, valued at $9,514,454.40. The trade was a 5.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 173,524 shares of company stock valued at $35,018,126 over the last three months. 0.36% of the stock is owned by insiders.

NetApp Trading Up 1.8%

NetApp stock traded up $3.57 during trading hours on Monday, reaching $207.37. 1,693,547 shares of the company’s stock traded hands, compared to its average volume of 2,691,782. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.16 and a current ratio of 1.24. NetApp, Inc. has a fifty-two week low of $93.69 and a fifty-two week high of $240.87. The firm has a market capitalization of $40.73 billion, a price-to-earnings ratio of 29.25, a PEG ratio of 2.19 and a beta of 1.46. The firm’s 50 day moving average is $201.97 and its 200-day moving average is $163.70.

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

NetApp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Friday, October 9th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, October 9th. NetApp’s dividend payout ratio is currently 29.34%.

Analyst Ratings Changes

Several research firms have recently commented on NTAP. Wells Fargo & Company raised their price target on shares of NetApp from $180.00 to $190.00 and gave the company an “equal weight” rating in a report on Thursday, September 3rd. Susquehanna boosted their price objective on shares of NetApp from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Thursday, September 3rd. Wall Street Zen upgraded shares of NetApp from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 5th. Northland Securities upped their price objective on NetApp from $171.00 to $187.00 and gave the stock an “outperform” rating in a report on Thursday, September 3rd. Finally, Citigroup decreased their price objective on NetApp from $209.00 to $190.00 and set a “neutral” rating on the stock in a research report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, NetApp presently has an average rating of “Moderate Buy” and a consensus price target of $213.20.

NetApp Profile

NetApp, Inc is a data infrastructure and cloud storage company that helps organizations manage, protect and access data across on-premises data centers, public clouds and hybrid environments. Its offerings support enterprise applications, artificial intelligence workloads, business analytics, backup and disaster recovery.

The company’s portfolio includes all-flash and hybrid-flash storage systems, the ONTAP data management operating system, StorageGRID object storage and Keystone storage-as-a-service.