NetApp, Inc. $NTAP Shares Newly Purchased by Parkway Wealth Management Group LLC

Parkway Wealth Management Group LLC acquired a new position in shares of NetApp, Inc. (NASDAQ:NTAP) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 19,550 shares of the data storage provider’s stock, valued at approximately $4,107,000.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new position in NetApp during the 2nd quarter valued at approximately $2,925,168,000. Primecap Management Co. CA purchased a new position in NetApp during the second quarter valued at $1,395,423,000. First Trust Advisors LP boosted its holdings 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 worth $374,549,000 after acquiring an additional 2,046,912 shares in the last quarter. Legal & General Group Plc bought a new stake in NetApp in the second quarter worth $258,093,000. Finally, Bank of America Corp DE bought a new stake in NetApp in the second quarter worth $235,682,000. Institutional investors own 92.17% of the company’s stock.

Analyst Ratings Changes

NTAP has been the topic of a number of recent research reports. Wall Street Zen raised NetApp from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 5th. Wedbush lifted their price target on NetApp from $150.00 to $170.00 and gave the stock a “neutral” rating in a research report on Thursday, September 3rd. Citigroup dropped their price target on shares of NetApp from $209.00 to $190.00 and set a “neutral” rating on the stock in a research note on Thursday, September 3rd. Morgan Stanley increased their price objective on shares of NetApp from $173.00 to $191.00 and gave the company an “equal weight” rating in a research report on Thursday, September 3rd. Finally, Barclays lowered shares of NetApp from an “overweight” rating to an “equal weight” rating and set a $219.00 price objective for the company. in a research note on Wednesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $213.20.

Insiders Place Their Bets

In other NetApp news, President Cesar Cernuda sold 2,608 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $204.48, for a total transaction of $533,283.84. Following the transaction, the president owned 46,530 shares in the company, valued at approximately $9,514,454.40. This represents a 5.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Deepak Ahuja sold 3,526 shares of the company’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $194.04, for a total transaction of $684,185.04. Following the transaction, the director owned 16,264 shares in the company, valued at $3,155,866.56. This represents a 17.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 173,524 shares of company stock worth $35,018,126 in the last quarter. Insiders own 0.36% of the company’s stock.

NetApp Stock Performance

NTAP stock opened at $207.37 on Tuesday. The stock’s 50 day simple moving average is $202.14 and its 200 day simple moving average is $164.44. The company has a current ratio of 1.24, a quick ratio of 1.16 and a debt-to-equity ratio of 1.30. NetApp, Inc. has a 12-month low of $93.69 and a 12-month high of $240.87. The stock has a market capitalization of $40.73 billion, a PE ratio of 27.43, a price-to-earnings-growth ratio of 2.19 and a beta of 1.46.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.46. The firm had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.84 billion. NetApp had a return on equity of 119.13% and a net margin of 19.18%. The company’s revenue was up 29.9% on a year-over-year basis. During the same quarter in the previous year, the business 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. As a group, research analysts forecast that NetApp, Inc. will post 8.32 earnings per share for the current fiscal year.

NetApp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Friday, October 9th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 9th. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. NetApp’s payout ratio is 29.34%.

NetApp Profile

NetApp, Inc is a data infrastructure and cloud storage company that helps organizations manage, protect and access data across on-premises data centers, public clouds and hybrid environments. Its offerings support enterprise applications, artificial intelligence workloads, business analytics, backup and disaster recovery.

The company’s portfolio includes all-flash and hybrid-flash storage systems, the ONTAP data management operating system, StorageGRID object storage and Keystone storage-as-a-service.