9,000 Shares in NetApp, Inc. $NTAP Bought by Monetta Financial Services Inc.

Monetta Financial Services Inc. bought a new position in shares of NetApp, Inc. (NASDAQ:NTAP) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 9,000 shares of the data storage provider’s stock, valued at approximately $1,393,000.

A number of other hedge funds also recently bought and sold shares of the company. Geneos Wealth Management Inc. lifted its position in shares of NetApp by 38.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider’s stock worth $67,000 after purchasing an additional 210 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in NetApp in the 2nd quarter valued at approximately $315,000. Cerity Partners LLC increased its position in NetApp by 9.9% in the 2nd quarter. Cerity Partners LLC now owns 46,792 shares of the data storage provider’s stock worth $4,986,000 after buying an additional 4,232 shares during the period. Bank of Nova Scotia increased its position in NetApp by 7.3% in the 2nd quarter. Bank of Nova Scotia now owns 24,301 shares of the data storage provider’s stock worth $2,589,000 after buying an additional 1,662 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in shares of NetApp by 12.7% during the second quarter. NewEdge Advisors LLC now owns 20,161 shares of the data storage provider’s stock worth $2,148,000 after buying an additional 2,277 shares during the last quarter. 92.17% of the stock is currently owned by institutional investors.

NetApp Stock Performance

NTAP opened at $194.48 on Thursday. The stock’s 50 day simple moving average is $171.67 and its 200-day simple moving average is $133.81. 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 stock has a market cap of $38.16 billion, a PE ratio of 30.58, a P/E/G ratio of 3.67 and a beta of 1.45. NetApp, Inc. has a 1 year low of $93.69 and a 1 year high of $209.06.

NetApp (NASDAQ:NTAP) last issued its earnings results on Thursday, May 28th. The data storage provider reported $2.03 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.24). The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. NetApp had a return on equity of 117.23% and a net margin of 18.43%.The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period last year, the business earned $1.93 earnings per share. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. Sell-side analysts forecast that NetApp, Inc. will post 7.3 EPS for the current year.

NetApp Dividend Announcement

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

Insider Activity at NetApp

In related news, CAO Lorenzo Daniel De sold 225 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $171.09, for a total value of $38,495.25. Following the completion of the transaction, the chief accounting officer owned 1,090 shares of the company’s stock, valued at $186,488.10. This represents a 17.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Cesar Cernuda sold 2,608 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $204.48, for a total transaction of $533,283.84. Following the transaction, the president owned 46,530 shares of the company’s stock, valued at approximately $9,514,454.40. This represents a 5.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 55,297 shares of company stock valued at $8,758,016 over the last quarter. 0.36% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

NTAP has been the subject of several research reports. Morgan Stanley raised NetApp from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $137.00 to $173.00 in a research report on Monday, August 10th. Barclays upped their target price on shares of NetApp from $120.00 to $199.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. Northland Securities increased their price target on shares of NetApp from $137.00 to $171.00 and gave the company an “outperform” rating in a report on Friday, May 29th. UBS Group restated a “neutral” rating and set a $160.00 price objective on shares of NetApp in a report on Friday, May 29th. Finally, Argus upped their price objective on shares of NetApp from $130.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, June 1st. Five research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, NetApp currently has an average rating of “Hold” and a consensus target price of $177.25.

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.