GSA Capital Partners LLP Takes Position in NetApp, Inc. $NTAP

GSA Capital Partners LLP bought a new position in NetApp, Inc. (NASDAQ:NTAP) during the second quarter, Holdings Channel reports. The fund bought 15,158 shares of the data storage provider’s stock, valued at approximately $2,346,000.

Several other institutional investors also recently modified their holdings of the business. Bridgewater Advisors Inc. bought a new stake in NetApp during the second quarter worth about $219,000. Oppenheimer Asset Management Inc. bought a new position in shares of NetApp during the second quarter valued at approximately $2,210,000. Plan Group Financial LLC purchased a new position in shares of NetApp during the second quarter valued at approximately $386,000. Insight Wealth Strategies LLC purchased a new position in shares of NetApp during the second quarter valued at approximately $5,845,000. Finally, Tema ETFs LLC boosted its position in shares of NetApp by 7.9% in the 2nd quarter. Tema ETFs LLC now owns 3,977 shares of the data storage provider’s stock worth $615,000 after purchasing an additional 290 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors.

NetApp Trading Up 1.0%

NASDAQ:NTAP opened at $207.08 on Friday. The stock has a market cap of $40.64 billion, a price-to-earnings ratio of 32.56, a PEG ratio of 3.72 and a beta of 1.45. The company has a quick ratio of 1.39, a current ratio of 1.44 and a debt-to-equity ratio of 1.84. The company’s 50 day moving average price is $169.53 and its 200-day moving average price is $131.42. NetApp, Inc. has a 52 week low of $93.69 and a 52 week high of $209.06.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data 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). The firm had revenue of $1.95 billion during 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%.NetApp’s revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $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. On average, equities research analysts forecast that NetApp, Inc. will post 7.3 earnings per share for the current fiscal year.

NetApp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. NetApp’s dividend payout ratio (DPR) is presently 32.70%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Citigroup upped their price target on NetApp from $114.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Susquehanna boosted their target price on NetApp from $110.00 to $185.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. The Goldman Sachs Group reissued a “buy” rating and issued a $200.00 target price on shares of NetApp in a report on Tuesday, June 2nd. Barclays raised their price target on NetApp from $120.00 to $199.00 and gave the company an “overweight” rating in a report on Friday, May 29th. Finally, Wedbush lifted their price target on NetApp from $115.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Five analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $172.33.

Insider Transactions at NetApp

In related news, CAO Lorenzo Daniel De sold 275 shares of NetApp stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $120.00, for a total value of $33,000.00. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Cesar Cernuda sold 49,464 shares of NetApp stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $154.82, for a total value of $7,658,016.48. Following the completion of the sale, the president owned 46,806 shares of the company’s stock, valued at $7,246,504.92. The trade was a 51.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 52,964 shares of company stock worth $8,257,732 over the last quarter. 0.36% of the stock is currently owned by insiders.

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.