Occidental Asset Management LLC Takes Position in NetApp, Inc. $NTAP

Occidental Asset Management LLC purchased a new position in shares of NetApp, Inc. (NASDAQ:NTAP) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 53,647 shares of the data storage provider’s stock, valued at approximately $8,302,000. NetApp comprises 0.8% of Occidental Asset Management LLC’s investment portfolio, making the stock its 24th biggest holding.

Several other hedge funds have also recently modified their holdings of NTAP. Park Square Financial Group LLC lifted its holdings in shares of NetApp by 68.7% in the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock valued at $29,000 after buying an additional 103 shares during the period. Gen Wealth Partners Inc acquired a new position in NetApp during the fourth quarter worth $30,000. DV Equities LLC purchased a new position in NetApp in the fourth quarter worth $30,000. Roble Belko & Company Inc purchased a new position in NetApp in the first quarter worth $31,000. Finally, Torren Management LLC acquired a new stake in NetApp in the fourth quarter valued at $34,000. 92.17% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $193.82, for a total transaction of $193,820.00. Following the completion of the transaction, the executive vice president owned 30,297 shares in the company, valued at approximately $5,872,164.54. The trade was a 3.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Lorenzo Daniel De sold 225 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $171.09, for a total transaction of $38,495.25. Following the completion of the sale, the chief accounting officer directly owned 1,090 shares in the company, valued at $186,488.10. This trade represents a 17.11% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 52,689 shares of company stock worth $8,224,732. Insiders own 0.36% of the company’s stock.

NetApp Stock Down 1.4%

NTAP opened at $204.20 on Tuesday. The business’s fifty day moving average is $170.20 and its two-hundred day moving average is $132.39. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.39 and a current ratio of 1.44. The company has a market cap of $40.07 billion, a price-to-earnings ratio of 32.11, a PEG ratio of 3.72 and a beta of 1.45. NetApp, Inc. has a one year low of $93.69 and a one year high of $209.06.

NetApp (NASDAQ:NTAP) last announced 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). The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.87 billion. NetApp had a net margin of 18.43% and a return on equity of 117.23%. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.93 EPS. 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 7.3 EPS 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 dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, July 10th. NetApp’s dividend payout ratio (DPR) is 32.70%.

Analyst Ratings Changes

NTAP has been the topic of several research analyst reports. Wedbush boosted their target price 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. Bank of America raised 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. Weiss Ratings raised shares of NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Citigroup boosted their price objective on shares of NetApp from $114.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Finally, Argus upped their target price on shares of NetApp from $130.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Five equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $172.33.

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.