Greenland Capital Management LP Invests $947,000 in NetApp, Inc. $NTAP

Greenland Capital Management LP bought a new position in shares of NetApp, Inc. (NASDAQ:NTAP) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 6,116 shares of the data storage provider’s stock, valued at approximately $947,000.

Other hedge funds have also recently bought and sold shares of the company. Park Square Financial Group LLC lifted its position in NetApp by 68.7% during the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock valued at $29,000 after buying an additional 103 shares in the last quarter. Gen Wealth Partners Inc acquired a new stake in shares of NetApp in the fourth quarter worth $30,000. DV Equities LLC acquired a new stake in shares of NetApp in the fourth quarter worth $30,000. Roble Belko & Company Inc purchased a new position in shares of NetApp in the 1st quarter valued at $31,000. Finally, Torren Management LLC purchased a new position in shares of NetApp in the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Insider Activity

In other news, CAO Lorenzo Daniel De sold 225 shares of NetApp stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $171.09, for a total transaction of $38,495.25. Following the sale, the chief accounting officer directly owned 1,090 shares of the company’s stock, valued at approximately $186,488.10. The trade was a 17.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $193.82, for a total value of $193,820.00. Following the sale, the executive vice president directly owned 30,297 shares in the company, valued at approximately $5,872,164.54. The trade was a 3.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 55,297 shares of company stock worth $8,758,016 over the last ninety days. Corporate insiders own 0.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on NTAP shares. Wall Street Zen lowered shares of NetApp from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 29th. Morgan Stanley raised NetApp from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $137.00 to $173.00 in a research report on Monday, August 10th. Barclays boosted their price objective on NetApp from $120.00 to $199.00 and gave the stock an “overweight” rating in a research note on Friday, May 29th. Weiss Ratings raised NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, June 8th. Finally, JPMorgan Chase & Co. increased their target price on NetApp from $110.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Five equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $177.25.

NetApp Trading Down 0.3%

NASDAQ NTAP opened at $192.27 on Friday. The stock has a market cap of $37.73 billion, a P/E ratio of 30.23, a PEG ratio of 3.45 and a beta of 1.45. The company’s fifty day simple moving average is $172.93 and its 200-day simple moving average is $134.89. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 1.84. NetApp, Inc. has a 52 week low of $93.69 and a 52 week high of $209.06.

NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.24). NetApp had a net margin of 18.43% and a return on equity of 117.23%. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period in the previous year, the business posted $1.93 earnings per share. NetApp’s revenue for the quarter 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. Equities research analysts predict that NetApp, Inc. will post 7.32 EPS for the current fiscal year.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th were given 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, July 10th. NetApp’s dividend payout ratio is presently 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.