NetApp, Inc. $NTAP Shares Bought by Kepler Cheuvreux Suisse SA

Kepler Cheuvreux Suisse SA grew its holdings in NetApp, Inc. (NASDAQ:NTAP) by 25.6% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 175,017 shares of the data storage provider’s stock after buying an additional 35,701 shares during the period. Kepler Cheuvreux Suisse SA’s holdings in NetApp were worth $17,920,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in NTAP. Parallel Advisors LLC grew its holdings in shares of NetApp by 2.1% during the fourth quarter. Parallel Advisors LLC now owns 5,007 shares of the data storage provider’s stock worth $536,000 after buying an additional 101 shares during the last quarter. Park Square Financial Group LLC raised 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 during the last quarter. Transcend Capital Advisors LLC raised its stake in NetApp by 5.8% during the 4th quarter. Transcend Capital Advisors LLC now owns 1,953 shares of the data storage provider’s stock valued at $209,000 after acquiring an additional 107 shares during the last quarter. Fifth Third Bancorp lifted its position in NetApp by 0.9% during the 4th quarter. Fifth Third Bancorp now owns 12,559 shares of the data storage provider’s stock worth $1,345,000 after acquiring an additional 108 shares during the period. Finally, Transamerica Financial Advisors LLC lifted its position in NetApp by 16.8% during the 4th quarter. Transamerica Financial Advisors LLC now owns 833 shares of the data storage provider’s stock worth $89,000 after acquiring an additional 120 shares during the period. 92.17% of the stock is owned by hedge funds and other institutional investors.

NetApp Price Performance

Shares of NTAP opened at $154.17 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 1.84. The stock’s 50 day moving average is $142.29 and its two-hundred day moving average is $116.71. NetApp, Inc. has a twelve month low of $93.69 and a twelve month high of $192.83. The firm has a market capitalization of $30.20 billion, a PE ratio of 24.24, a P/E/G ratio of 2.82 and a beta of 1.46.

NetApp (NASDAQ:NTAP) last issued its earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.24). The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.87 billion. NetApp had a return on equity of 117.23% and a net margin of 18.43%.The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period last year, the company posted $1.93 earnings per share. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. Research analysts anticipate that NetApp, Inc. will post 7.16 earnings per share for the current year.

NetApp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th will be given a $0.52 dividend. The ex-dividend date is Friday, July 10th. This represents a $2.08 annualized dividend and a yield of 1.3%. NetApp’s dividend payout ratio is presently 32.70%.

Insiders Place Their Bets

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s 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 sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lorenzo Daniel De sold 275 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $120.00, for a total transaction of $33,000.00. Following the transaction, the chief accounting officer directly owned 1,090 shares in the company, valued at approximately $130,800. This trade represents a 20.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 52,964 shares of company stock worth $8,106,972. 0.28% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on NTAP shares. Wall Street Zen raised NetApp from a “buy” rating to a “strong-buy” rating in a report on Sunday. The Goldman Sachs Group reaffirmed a “buy” rating and set a $200.00 price target on shares of NetApp in a report on Tuesday, June 2nd. UBS Group reiterated a “neutral” rating and issued a $160.00 price objective on shares of NetApp in a research report on Friday, May 29th. Bank of America boosted 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. Finally, Wedbush upped their price objective on shares of NetApp from $115.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Five research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $169.33.

NetApp 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.