12,673 Shares in NetApp, Inc. $NTAP Purchased by Wills Financial Group LLC

Wills Financial Group LLC purchased a new stake in shares of NetApp, Inc. (NASDAQ:NTAP) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 12,673 shares of the data storage provider’s stock, valued at approximately $1,357,000.

Other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP grew its stake in shares of NetApp by 17.1% during the 3rd quarter. Wellington Management Group LLP now owns 4,915,553 shares of the data storage provider’s stock worth $582,296,000 after purchasing an additional 718,409 shares during the period. Norges Bank acquired a new position in shares of NetApp in the 4th quarter valued at $458,060,000. Boston Partners boosted its holdings in NetApp by 12.6% during the third quarter. Boston Partners now owns 3,317,605 shares of the data storage provider’s stock worth $393,027,000 after buying an additional 370,405 shares in the last quarter. Northern Trust Corp grew its position in NetApp by 1.0% during the third quarter. Northern Trust Corp now owns 2,903,077 shares of the data storage provider’s stock valued at $343,899,000 after buying an additional 29,871 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in NetApp by 0.6% during the third quarter. Dimensional Fund Advisors LP now owns 2,091,817 shares of the data storage provider’s stock valued at $247,795,000 after buying an additional 13,195 shares during the period. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Insider Activity at NetApp

In other NetApp news, CAO Lorenzo Daniel De sold 225 shares of NetApp stock in a transaction on Monday, June 1st. The shares were sold at an average price of $171.09, for a total transaction of $38,495.25. Following the sale, the chief accounting officer owned 1,090 shares of the company’s stock, valued at $186,488.10. The trade was a 17.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $117.73, for a total transaction of $117,730.00. Following the sale, the executive vice president directly owned 18,382 shares of the company’s stock, valued at $2,164,112.86. The trade was a 5.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,500 shares of company stock valued at $285,475 over the last quarter. 0.28% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

NTAP has been the subject of a number of recent analyst reports. Susquehanna lifted their price objective on shares of NetApp from $110.00 to $185.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Northland Securities raised their target price on NetApp from $137.00 to $171.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Argus lifted their price target on NetApp from $130.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, June 1st. Wells Fargo & Company upped their price target on NetApp from $115.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday, May 29th. Finally, Morgan Stanley increased their price target on NetApp from $88.00 to $137.00 and gave the stock an “underweight” rating in a research report on Friday, May 29th. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $169.33.

NetApp Stock Performance

NTAP opened at $165.00 on Wednesday. The company has a quick ratio of 1.39, a current ratio of 1.44 and a debt-to-equity ratio of 1.84. The company has a market cap of $32.33 billion, a price-to-earnings ratio of 25.94, a PEG ratio of 3.12 and a beta of 1.45. NetApp, Inc. has a 52-week low of $93.69 and a 52-week high of $192.83. The firm’s fifty day simple moving average is $122.37 and its two-hundred day simple moving average is $111.14.

NetApp (NASDAQ:NTAP) last released its earnings results on Thursday, May 28th. The data storage provider reported $2.03 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.24). The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations 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% 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. Equities analysts anticipate that NetApp, Inc. will post 7.14 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Friday, July 10th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.3%. NetApp’s payout ratio is currently 32.70%.

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.