NetApp, Inc. $NTAP Stock: Diversified Trust Co Trims Position

Diversified Trust Co decreased its stake in NetApp, Inc. (NASDAQ:NTAP) by 23.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,927 shares of the data storage provider’s stock after selling 9,975 shares during the period. Diversified Trust Co’s holdings in NetApp were worth $6,707,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of NTAP. BlackRock Inc. acquired a new stake in NetApp during the 2nd quarter worth $2,925,168,000. Primecap Management Co. CA purchased a new stake in NetApp in the second quarter valued at $1,395,423,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in NetApp by 9.4% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,444,057 shares of the data storage provider’s stock valued at $687,762,000 after acquiring an additional 383,701 shares during the last quarter. First Trust Advisors LP boosted its stake in NetApp by 127.0% in the first quarter. First Trust Advisors LP now owns 3,658,066 shares of the data storage provider’s stock valued at $374,549,000 after acquiring an additional 2,046,912 shares in the last quarter. Finally, Aberdeen Group plc boosted its stake in NetApp by 1,069.3% in the third quarter. Aberdeen Group plc now owns 2,738,944 shares of the data storage provider’s stock valued at $575,397,000 after acquiring an additional 2,504,699 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on NTAP shares. Zacks Research lowered NetApp from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Argus set a $225.00 target price on NetApp and gave the company a “buy” rating in a report on Friday, September 11th. Bank of America upped their target price on NetApp from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Wednesday, September 30th. Wall Street Zen cut NetApp from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 31st. Finally, Cantor Fitzgerald upgraded NetApp to an “overweight” rating in a research note on Wednesday, October 7th. Eleven research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, NetApp has a consensus rating of “Moderate Buy” and an average target price of $205.24.

NetApp Stock Down 2.5%

NTAP stock opened at $181.37 on Friday. NetApp, Inc. has a one year low of $93.69 and a one year high of $240.87. The stock has a market capitalization of $35.62 billion, a PE ratio of 25.58, a price-to-earnings-growth ratio of 2.00 and a beta of 1.52. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.16 and a current ratio of 1.24. The company has a fifty day moving average of $203.82 and a 200-day moving average of $153.98.

NetApp (NASDAQ:NTAP) last issued its earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 earnings per share 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 business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the previous year, the firm earned $1.15 earnings per share. The business’s quarterly revenue was up 29.9% compared to the same quarter last year. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. As a group, analysts expect that NetApp, Inc. will post 8.32 EPS for the current year.

NetApp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 28th. Shareholders of record on Friday, October 9th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, October 9th. NetApp’s payout ratio is currently 29.34%.

Insiders Place Their Bets

In other NetApp news, EVP Elizabeth O’Callahan sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $175.95, for a total transaction of $175,950.00. Following the transaction, the executive vice president owned 29,423 shares in the company, valued at approximately $5,176,976.85. The trade was a 3.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO George Kurian sold 10,000 shares of the stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $210.04, for a total value of $2,100,400.00. Following the transaction, the chief executive officer directly owned 208,537 shares of the company’s stock, valued at approximately $43,801,111.48. This trade represents a 4.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 173,524 shares of company stock worth $35,000,256 over the last quarter. 0.36% of the stock is owned by company insiders.

NetApp Profile

NetApp, Inc. develops data storage and data management technologies for businesses and other organizations. Its offerings support workloads across on-premises infrastructure, public cloud environments and hybrid settings, with services for storing, managing, protecting and moving data. The company’s portfolio includes its ONTAP data management software, all-flash and hybrid-flash storage systems, object storage, and cloud storage and data services. NetApp also provides tools to help customers manage data across different environments and offers infrastructure through its Keystone storage-as-a-service model.