NetApp, Inc. $NTAP Stock: Vontobel Holding Ltd. Boosts Stake

Vontobel Holding Ltd. grew its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 11.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 48,140 shares of the data storage provider’s stock after purchasing an additional 5,105 shares during the quarter. Vontobel Holding Ltd.’s holdings in NetApp were worth $10,113,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Roble Belko & Company Inc acquired a new position in shares of NetApp in the first quarter valued at approximately $31,000. West Financial Advisors LLC acquired a new stake in NetApp during the 2nd quarter worth approximately $37,000. Fortitude Family Office LLC boosted its position in NetApp by 56.9% during the 3rd quarter. Fortitude Family Office LLC now owns 204 shares of the data storage provider’s stock worth $43,000 after buying an additional 74 shares during the period. Bell Investment Advisors Inc acquired a new stake in NetApp during the 2nd quarter worth approximately $55,000. Finally, Elevation Wealth Partners LLC grew its holdings in NetApp by 90.8% during the 3rd quarter. Elevation Wealth Partners LLC now owns 292 shares of the data storage provider’s stock worth $61,000 after acquiring an additional 139 shares during the last quarter. 92.17% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO George Kurian sold 50,000 shares of the company’s stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $209.95, for a total value of $10,497,500.00. Following the sale, the chief executive officer directly owned 218,537 shares of the company’s stock, valued at approximately $45,881,843.15. This represents a 18.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas Nevens sold 5,940 shares of the company’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $195.21, for a total transaction of $1,159,547.40. Following the completion of the sale, the director directly owned 7,747 shares in the company, valued at approximately $1,512,291.87. This represents a 43.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 173,524 shares of company stock worth $35,018,126. 0.36% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. The Goldman Sachs Group restated a “buy” rating and issued a $240.00 price target on shares of NetApp in a research report on Tuesday, October 6th. Barclays downgraded shares of NetApp from an “overweight” rating to an “equal weight” rating and set a $219.00 price target for the company. in a research note on Wednesday. Wall Street Zen upgraded shares of NetApp from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 5th. Weiss Ratings raised shares of NetApp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Finally, Argus set a $225.00 price objective on shares of NetApp in a research note on Friday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, NetApp currently has an average rating of “Moderate Buy” and an average target price of $213.20.

NetApp Trading Down 5.1%

Shares of NTAP stock opened at $203.80 on Friday. NetApp, Inc. has a 1-year low of $93.69 and a 1-year high of $240.87. The company has a current ratio of 1.24, a quick ratio of 1.16 and a debt-to-equity ratio of 1.30. The stock has a market cap of $40.03 billion, a price-to-earnings ratio of 28.74, a PEG ratio of 2.19 and a beta of 1.46. The stock has a 50-day moving average of $201.97 and a 200-day moving average of $163.26.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, September 2nd. The data storage provider reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.46. The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.84 billion. NetApp had a return on equity of 119.13% and a net margin of 19.18%. The firm’s quarterly revenue was up 29.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.15 earnings per share. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. On average, equities research analysts forecast that NetApp, Inc. will post 8.32 earnings per share for the current year.

NetApp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Friday, October 9th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, October 9th. This represents a $2.08 annualized dividend and a yield of 1.0%. NetApp’s dividend payout ratio (DPR) is presently 29.34%.

NetApp Company Profile

NetApp, Inc develops intelligent data infrastructure and data management solutions for enterprises, service providers, and government organizations. The company helps customers store, manage, protect, and access data across on-premises environments, private clouds, public clouds, and hybrid multicloud infrastructures.

Its portfolio includes enterprise storage systems, all-flash arrays, cloud-connected storage, object storage, and data management software. NetApp’s offerings include the ONTAP data management operating system, AFF and ASA storage systems, StorageGRID object storage, and BlueXP, a platform designed to help customers manage data and storage resources across multiple environments.