NetApp, Inc. $NTAP Shares Acquired by Diversified Trust Co

Diversified Trust Co lifted its position in NetApp, Inc. (NASDAQ:NTAP) by 5.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 64,841 shares of the data storage provider’s stock after purchasing an additional 3,284 shares during the quarter. Diversified Trust Co’s holdings in NetApp were worth $6,639,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of NTAP. Rossby Financial LCC increased its holdings in NetApp by 105.5% in the 3rd quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock worth $27,000 after buying an additional 115 shares during the period. Park Square Financial Group LLC lifted 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 period. Gen Wealth Partners Inc acquired a new stake in NetApp during the 4th quarter valued at approximately $30,000. DV Equities LLC acquired a new stake in NetApp during the 4th quarter valued at approximately $30,000. Finally, JFS Wealth Advisors LLC boosted its holdings in shares of NetApp by 176.3% in the 4th quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider’s stock valued at $34,000 after acquiring an additional 201 shares during the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

NetApp Stock Performance

NetApp stock opened at $159.71 on Friday. The firm has a market cap of $31.29 billion, a PE ratio of 25.11, a P/E/G ratio of 2.92 and a beta of 1.45. NetApp, Inc. has a 12 month low of $93.69 and a 12 month high of $192.83. The stock’s 50 day simple moving average is $131.77 and its two-hundred day simple moving average is $113.99. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 1.84.

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

NetApp Announces Dividend

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. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.08 dividend on an annualized basis and a yield of 1.3%. NetApp’s payout ratio is presently 32.70%.

Insiders Place Their Bets

In other news, CAO Lorenzo Daniel De sold 275 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $120.00, for a total transaction of $33,000.00. Following the sale, the chief accounting officer directly owned 1,090 shares in the company, valued at $130,800. This trade represents a 20.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $117.73, for a total value of $117,730.00. Following the sale, the executive vice president owned 18,382 shares in the company, valued at $2,164,112.86. This trade represents a 5.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,500 shares of company stock valued at $448,955 in the last ninety days. 0.28% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

NTAP has been the topic of a number of research reports. UBS Group reiterated a “neutral” rating and issued a $160.00 price objective on shares of NetApp in a research note on Friday, May 29th. Susquehanna boosted their target price on shares of NetApp from $110.00 to $185.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Morgan Stanley upped their price target on shares of NetApp from $88.00 to $137.00 and gave the company an “underweight” rating in a report on Friday, May 29th. Weiss Ratings raised NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, June 8th. Finally, Wall Street Zen upgraded NetApp from a “hold” rating to a “strong-buy” rating in a research note on Saturday, June 13th. Five analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, NetApp currently has an average rating of “Hold” and a consensus target price of $169.33.

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.