NetApp, Inc. $NTAP Shares Purchased by Vest Financial LLC

Vest Financial LLC grew its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 63.9% during the 4th quarter, HoldingsChannel reports. The firm owned 55,128 shares of the data storage provider’s stock after buying an additional 21,498 shares during the period. Vest Financial LLC’s holdings in NetApp were worth $5,904,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of NTAP. Abich Financial Wealth Management LLC acquired a new position in shares of NetApp during the 3rd quarter worth approximately $27,000. Rossby Financial LCC raised its position in shares of NetApp by 105.5% during the 3rd quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 115 shares in the last quarter. JFS Wealth Advisors LLC lifted its position in shares of NetApp by 176.3% during the 4th quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider’s stock worth $34,000 after buying an additional 201 shares during the last quarter. Torren Management LLC purchased a new stake in NetApp in the fourth quarter valued at $34,000. Finally, Measured Wealth Private Client Group LLC purchased a new position in shares of NetApp during the third quarter worth about $35,000. 92.17% of the stock is currently owned by institutional investors and hedge funds.

NetApp Trading Up 0.1%

NASDAQ:NTAP opened at $108.35 on Wednesday. The business has a 50 day simple moving average of $101.93 and a 200 day simple moving average of $106.67. The firm has a market capitalization of $21.38 billion, a P/E ratio of 18.17, a P/E/G ratio of 3.36 and a beta of 1.30. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.39 and a quick ratio of 1.36. NetApp, Inc. has a 12-month low of $86.70 and a 12-month high of $126.66.

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

NetApp Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 1.9%. NetApp’s dividend payout ratio (DPR) is 34.78%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on NTAP shares. The Goldman Sachs Group began coverage on shares of NetApp in a research report on Tuesday, January 13th. They set a “buy” rating and a $128.00 target price on the stock. JPMorgan Chase & Co. cut NetApp from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $125.00 to $110.00 in a research report on Thursday, April 16th. Wedbush restated a “neutral” rating and set a $115.00 target price on shares of NetApp in a report on Wednesday, February 25th. Weiss Ratings cut NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 13th. Finally, Wall Street Zen downgraded shares of NetApp from a “buy” rating to a “hold” rating in a research note on Sunday, April 19th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $122.64.

Insider Transactions at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $96.25, for a total transaction of $96,250.00. Following the completion of the sale, the executive vice president directly owned 19,382 shares of the company’s stock, valued at approximately $1,865,517.50. This represents a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 3,000 shares of company stock worth $300,370. 0.28% of the stock is currently owned by insiders.

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.