Hillsdale Investment Management Inc. Buys Shares of 8,500 NetApp, Inc. $NTAP

Hillsdale Investment Management Inc. bought a new stake in NetApp, Inc. (NASDAQ:NTAP) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 8,500 shares of the data storage provider’s stock, valued at approximately $910,000.

Several other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP lifted its stake in NetApp by 17.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,915,553 shares of the data storage provider’s stock valued at $582,296,000 after acquiring an additional 718,409 shares in the last quarter. Boston Partners lifted its stake in NetApp by 12.6% in the 3rd quarter. Boston Partners now owns 3,317,605 shares of the data storage provider’s stock valued at $393,027,000 after acquiring an additional 370,405 shares in the last quarter. Northern Trust Corp lifted its stake in NetApp by 1.0% in the 3rd quarter. Northern Trust Corp now owns 2,903,077 shares of the data storage provider’s stock valued at $343,899,000 after acquiring an additional 29,871 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in NetApp by 0.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,091,817 shares of the data storage provider’s stock valued at $247,795,000 after acquiring an additional 13,195 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in NetApp by 71.6% in the 3rd quarter. AQR Capital Management LLC now owns 1,849,218 shares of the data storage provider’s stock valued at $219,058,000 after acquiring an additional 771,835 shares in the last quarter. Institutional investors own 92.17% of the company’s stock.

NetApp Stock Up 3.1%

NTAP opened at $179.70 on Tuesday. NetApp, Inc. has a 1-year low of $93.69 and a 1-year high of $192.83. The stock’s fifty day simple moving average is $113.99 and its 200 day simple moving average is $108.41. 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 has a market cap of $35.46 billion, a PE ratio of 28.25, a price-to-earnings-growth ratio of 3.18 and a beta of 1.28.

NetApp (NASDAQ:NTAP) last posted 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 business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter last year, the company posted $1.93 EPS. The firm’s revenue 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. As a group, research analysts expect that NetApp, Inc. will post 7.14 earnings per share for the current year.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, July 10th. NetApp’s dividend payout ratio is currently 32.70%.

Insiders Place Their Bets

In other NetApp news, 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 value of $33,000.00. Following the transaction, the chief accounting officer directly owned 1,090 shares of the company’s stock, valued at $130,800. This represents a 20.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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. This represents a 5.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 3,275 shares of company stock worth $347,650. Insiders own 0.28% of the company’s stock.

Wall Street Analysts Forecast Growth

NTAP has been the topic of a number of analyst reports. Barclays upped their price objective on NetApp from $120.00 to $199.00 and gave the stock an “overweight” rating in a research note on Friday. UBS Group reiterated a “neutral” rating and set a $160.00 price objective on shares of NetApp in a research note on Friday. Wall Street Zen cut NetApp from a “buy” rating to a “hold” rating in a research note on Sunday, April 19th. Susquehanna upped their price objective on NetApp from $110.00 to $185.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Bank of America upped their price objective on NetApp from $125.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday. Four research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $163.33.

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.