5,575 Shares in NetApp, Inc. $NTAP Acquired by NewEdge Wealth LLC

NewEdge Wealth LLC purchased a new position in NetApp, Inc. (NASDAQ:NTAP) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,575 shares of the data storage provider’s stock, valued at approximately $597,000.

A number of other hedge funds also recently modified their holdings of the stock. Drucker Wealth 3.0 LLC bought a new stake in shares of NetApp in the 4th quarter worth approximately $494,000. Crossmark Global Holdings Inc. raised its holdings in shares of NetApp by 2.9% in the 4th quarter. Crossmark Global Holdings Inc. now owns 124,552 shares of the data storage provider’s stock worth $13,338,000 after purchasing an additional 3,469 shares during the period. Ethic Inc. raised its holdings in NetApp by 3.2% during the 4th quarter. Ethic Inc. now owns 25,605 shares of the data storage provider’s stock valued at $2,742,000 after acquiring an additional 796 shares during the period. Virtus Family Office LLC bought a new stake in NetApp during the 4th quarter valued at $867,000. Finally, Crestwood Advisors Group LLC bought a new stake in NetApp during the 4th quarter valued at $254,000. Institutional investors own 92.17% of the company’s stock.

Insider Transactions at NetApp

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $117.73, for a total value of $117,730.00. Following the completion of the transaction, the executive vice president directly owned 18,382 shares in the company, valued at approximately $2,164,112.86. The trade was a 5.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 3,000 shares of company stock valued at $314,650 in the last ninety days. 0.28% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Wedbush reissued a “neutral” rating and set a $115.00 target price on shares of NetApp in a report on Wednesday, February 25th. Citigroup cut shares of NetApp from a “neutral” rating to a “mixed” rating in a report on Thursday. JPMorgan Chase & Co. downgraded NetApp from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $125.00 to $110.00 in a research note on Thursday, April 16th. Wall Street Zen downgraded NetApp from a “buy” rating to a “hold” rating in a research note on Sunday, April 19th. Finally, Weiss Ratings cut NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 13th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, NetApp has a consensus rating of “Hold” and a consensus target price of $122.64.

NetApp Price Performance

NASDAQ:NTAP opened at $119.93 on Friday. The firm has a market capitalization of $23.67 billion, a price-to-earnings ratio of 20.06, a P/E/G ratio of 3.40 and a beta of 1.28. NetApp, Inc. has a 52-week low of $93.69 and a 52-week high of $126.66. The stock has a fifty day moving average of $105.21 and a 200 day moving average of $106.50. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.36 and a current ratio of 1.39.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Thursday, February 26th. The data storage provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.05. The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.70 billion. NetApp had a return on equity of 118.11% and a net margin of 18.07%.The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the company earned $1.91 earnings per share. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. On average, research analysts expect that NetApp, Inc. will post 6.48 EPS for the current fiscal year.

NetApp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 22nd. Investors of record on Friday, April 3rd were given a $0.52 dividend. The ex-dividend date was Thursday, April 2nd. This represents a $2.08 annualized dividend and a yield of 1.7%. NetApp’s payout ratio is 34.78%.

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.