5,472 Shares in NetApp, Inc. $NTAP Bought by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. purchased a new stake in shares of NetApp, Inc. (NASDAQ:NTAP) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 5,472 shares of the data storage provider’s stock, valued at approximately $847,000.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in NetApp in the second quarter worth $2,925,168,000. Norges Bank purchased a new stake in NetApp in the 4th quarter valued at about $458,060,000. First Trust Advisors LP boosted its holdings in shares of NetApp by 127.0% in the first quarter. First Trust Advisors LP now owns 3,658,066 shares of the data storage provider’s stock valued at $374,549,000 after purchasing an additional 2,046,912 shares during the period. Deutsche Bank AG bought a new position in shares of NetApp during the 2nd quarter worth $195,203,000. Finally, Bank of New York Mellon Corp bought a new position in NetApp during the 2nd quarter worth about $181,772,000. Institutional investors own 92.17% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on NTAP. Citigroup increased their target price on NetApp from $150.00 to $209.00 and gave the company a “neutral” rating in a research report on Tuesday, August 18th. Barclays boosted their target price on shares of NetApp from $120.00 to $199.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. Argus increased their price objective on NetApp from $130.00 to $200.00 and gave the company a “buy” rating in a report on Monday, June 1st. Northland Securities raised their target price on shares of NetApp from $137.00 to $171.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Finally, Bank of America lifted their price target on NetApp from $125.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Five equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $179.77.

NetApp Stock Up 0.3%

NTAP opened at $187.43 on Wednesday. The company has a market cap of $36.78 billion, a PE ratio of 29.47, a price-to-earnings-growth ratio of 3.34 and a beta of 1.45. NetApp, Inc. has a twelve month low of $93.69 and a twelve month high of $209.06. The company has a 50-day moving average price of $173.96 and a 200 day moving average price of $136.41. The company has a quick ratio of 1.39, a current ratio of 1.44 and a debt-to-equity ratio of 1.84.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Thursday, May 28th. The data storage provider reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.24). NetApp had a return on equity of 117.23% and a net margin of 18.43%.The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the firm posted $1.93 earnings per share. The company’s quarterly 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. Sell-side analysts expect that NetApp, Inc. will post 7.32 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 29th. Stockholders of record on Friday, July 10th were paid 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 1.1%. NetApp’s payout ratio is currently 32.70%.

Insider Transactions at NetApp

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $193.82, for a total transaction of $193,820.00. Following the completion of the sale, the executive vice president directly 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lorenzo Daniel De sold 225 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $171.09, for a total transaction of $38,495.25. Following the sale, the chief accounting officer directly owned 1,090 shares of the company’s stock, valued at $186,488.10. The trade was a 17.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 55,297 shares of company stock valued at $8,758,016 over the last ninety days. Insiders own 0.36% of the company’s stock.

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.