NetApp, Inc. $NTAP Holdings Lifted by Munich Reinsurance Co Stock Corp in Munich

Munich Reinsurance Co Stock Corp in Munich boosted its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 61.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 61,103 shares of the data storage provider’s stock after buying an additional 23,182 shares during the period. Munich Reinsurance Co Stock Corp in Munich’s holdings in NetApp were worth $6,256,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Park Square Financial Group LLC grew its stake in NetApp by 68.7% during the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock valued at $29,000 after acquiring an additional 103 shares in the last quarter. Gen Wealth Partners Inc purchased a new stake in shares of NetApp in the fourth quarter worth approximately $30,000. DV Equities LLC purchased a new stake in shares of NetApp in the fourth quarter worth approximately $30,000. Roble Belko & Company Inc acquired a new stake in shares of NetApp during the first quarter worth approximately $31,000. Finally, JFS Wealth Advisors LLC boosted its holdings in shares of NetApp by 176.3% during the fourth quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider’s stock worth $34,000 after purchasing an additional 201 shares during the period. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $117.73, for a total transaction of $117,730.00. Following the transaction, the executive vice president directly owned 18,382 shares of the company’s stock, valued at $2,164,112.86. This represents a 5.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Cesar Cernuda sold 49,464 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $154.82, for a total value of $7,658,016.48. Following the transaction, the president owned 46,806 shares in the company, valued at approximately $7,246,504.92. This trade represents a 51.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 52,964 shares of company stock valued at $8,106,972 over the last three months. 0.28% of the stock is currently owned by insiders.

NetApp Price Performance

Shares of NTAP opened at $165.40 on Thursday. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.39 and a current ratio of 1.44. The firm has a market cap of $32.41 billion, a PE ratio of 26.01, a PEG ratio of 3.03 and a beta of 1.46. The firm’s 50 day moving average price is $145.68 and its 200 day moving average price is $117.85. NetApp, Inc. has a twelve month low of $93.69 and a twelve month high of $192.83.

NetApp (NASDAQ:NTAP) last posted 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). NetApp had a return on equity of 117.23% and a net margin of 18.43%.The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the prior year, the firm earned $1.93 earnings per share. The business’s revenue was up 12.5% on a year-over-year basis. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. As a group, research analysts expect that NetApp, Inc. will post 7.16 EPS for the current fiscal year.

NetApp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 29th. Investors 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 yield of 1.3%. NetApp’s dividend payout ratio is currently 32.70%.

Analyst Ratings Changes

Several research analysts have weighed in on NTAP shares. Bank of America upped their price objective on shares of NetApp from $125.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. JPMorgan Chase & Co. lifted their target price on shares of NetApp from $110.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Wells Fargo & Company boosted their price target on shares of NetApp from $115.00 to $180.00 and gave the company an “equal weight” rating in a report on Friday, May 29th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $200.00 price target on shares of NetApp in a research note on Tuesday, June 2nd. Finally, Argus lifted their price objective on NetApp from $130.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, June 1st. Five investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $169.33.

About NetApp

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.