Entropy Technologies LP Buys New Stake in NetApp, Inc. $NTAP

Entropy Technologies LP bought a new stake in NetApp, Inc. (NASDAQ:NTAP) in the fourth quarter, HoldingsChannel.com reports. The fund bought 15,491 shares of the data storage provider’s stock, valued at approximately $1,659,000.

Other hedge funds have also bought and sold shares of the company. Rossby Financial LCC lifted its holdings in shares of NetApp by 105.5% in the 3rd quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 115 shares during the last quarter. Abich Financial Wealth Management LLC bought a new position in NetApp during the 3rd quarter valued at about $27,000. Park Square Financial Group LLC raised its position in NetApp by 68.7% in the 4th 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. Gen Wealth Partners Inc bought a new stake in NetApp in the fourth quarter worth about $30,000. Finally, Measured Wealth Private Client Group LLC purchased a new position in shares of NetApp during the third quarter valued at approximately $35,000. Institutional investors own 92.17% of the company’s stock.

NetApp Price Performance

Shares of NTAP stock opened at $161.82 on Tuesday. NetApp, Inc. has a twelve month low of $93.69 and a twelve month high of $192.83. 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 fifty day simple moving average of $127.09 and a two-hundred day simple moving average of $112.64. The stock has a market capitalization of $31.70 billion, a price-to-earnings ratio of 25.44, a P/E/G ratio of 2.95 and a beta of 1.44.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Thursday, May 28th. The data storage provider reported $2.03 earnings per share 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 net margin of 18.43% and a return on equity of 117.23%. The business’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm 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. On average, analysts predict that NetApp, Inc. will post 7.16 EPS for the current fiscal year.

NetApp Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NTAP. Wedbush increased their price target on NetApp from $115.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Citigroup upped their price objective on NetApp from $114.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Morgan Stanley increased their target price on NetApp from $88.00 to $137.00 and gave the stock an “underweight” rating in a research note on Friday, May 29th. Wall Street Zen raised shares of NetApp from a “hold” rating to a “strong-buy” rating in a research note on Saturday. Finally, Susquehanna upped their price target on shares of NetApp from $110.00 to $185.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Five analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $169.33.

Insider Activity

In related news, CAO Lorenzo Daniel De sold 275 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $120.00, for a total transaction of $33,000.00. Following the completion of the transaction, the chief accounting officer owned 1,090 shares in the company, valued at $130,800. The trade was a 20.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president owned 18,382 shares of the company’s stock, valued at approximately $2,164,112.86. This trade represents a 5.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,500 shares of company stock worth $448,955 in the last quarter. 0.28% of the stock is owned by insiders.

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.