NetApp, Inc. $NTAP Holdings Raised by Cetera Investment Advisers

Cetera Investment Advisers lifted its stake in NetApp, Inc. (NASDAQ:NTAP) by 27.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 79,707 shares of the data storage provider’s stock after purchasing an additional 17,079 shares during the quarter. Cetera Investment Advisers’ holdings in NetApp were worth $8,161,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Mizuho Markets Cayman LP lifted its stake in NetApp by 12.9% during the first quarter. Mizuho Markets Cayman LP now owns 40,860 shares of the data storage provider’s stock valued at $4,184,000 after buying an additional 4,680 shares in the last quarter. Arvest Bank Trust Division purchased a new position in shares of NetApp in the first quarter worth approximately $3,071,000. First Trust Advisors LP raised its holdings in shares of NetApp by 127.0% during 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 acquiring an additional 2,046,912 shares during the period. ABN Amro Investment Solutions lifted its position in shares of NetApp by 2.5% in the 1st quarter. ABN Amro Investment Solutions now owns 28,785 shares of the data storage provider’s stock valued at $2,947,000 after acquiring an additional 702 shares in the last quarter. Finally, Oslo Pensjonsforsikring AS purchased a new stake in shares of NetApp in the 1st quarter valued at approximately $126,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

NetApp Stock Performance

Shares of NTAP opened at $178.50 on Friday. The company has a market capitalization of $35.03 billion, a PE ratio of 28.07, a PEG ratio of 3.18 and a beta of 1.46. 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’s 50 day moving average price is $162.88 and its 200 day moving average price is $124.94. NetApp, Inc. has a 52 week low of $93.69 and a 52 week high of $192.83.

NetApp (NASDAQ:NTAP) last released its earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.24). NetApp had a return on equity of 117.23% and a net margin of 18.43%.The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the previous year, the company earned $1.93 EPS. The firm’s quarterly revenue 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. Research analysts expect that NetApp, Inc. will post 7.16 EPS for the current fiscal year.

NetApp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th were paid a $0.52 dividend. The ex-dividend date was Friday, July 10th. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. NetApp’s payout ratio is 32.70%.

Analyst Ratings Changes

NTAP has been the topic of several research analyst reports. Bank of America lifted their price objective on shares of NetApp from $125.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Wall Street Zen lowered NetApp from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Citigroup raised their target price on NetApp from $114.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. UBS Group reiterated a “neutral” rating and set a $160.00 price target on shares of NetApp in a report on Friday, May 29th. Finally, Wedbush increased their price objective on NetApp from $115.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $169.33.

Insider Buying and Selling at NetApp

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $170.92, for a total transaction of $170,920.00. Following the completion of the sale, the executive vice president directly owned 31,297 shares in the company, valued at $5,349,283.24. The trade was a 3.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Lorenzo Daniel De sold 275 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were 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 of the company’s stock, valued at approximately $130,800. The trade was a 20.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 52,964 shares of company stock worth $8,181,642 over the last 90 days. 0.28% of the stock is currently owned by corporate insiders.

NetApp Company 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.