NetApp, Inc. $NTAP Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC boosted its position in NetApp, Inc. (NASDAQ:NTAP) by 30.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 845,036 shares of the data storage provider’s stock after buying an additional 197,922 shares during the quarter. Hsbc Holdings PLC owned approximately 0.43% of NetApp worth $90,556,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NTAP. Rossby Financial LCC grew its position in shares of NetApp by 105.5% in 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. Park Square Financial Group LLC raised its position in shares of NetApp by 68.7% during the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock valued at $29,000 after acquiring an additional 103 shares in the last quarter. Gen Wealth Partners Inc bought a new position in NetApp during the fourth quarter worth $30,000. DV Equities LLC bought a new position in NetApp during the fourth quarter worth $30,000. Finally, Measured Wealth Private Client Group LLC acquired a new position in NetApp in the third quarter worth $35,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on NTAP shares. UBS Group reiterated a “neutral” rating and set a $160.00 target price on shares of NetApp in a research note on Friday, May 29th. JPMorgan Chase & Co. lifted their price target on shares of NetApp from $110.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Morgan Stanley boosted their price objective on shares of NetApp from $88.00 to $137.00 and gave the company an “underweight” rating in a research report on Friday, May 29th. Wall Street Zen upgraded shares of NetApp from a “hold” rating to a “strong-buy” rating in a research note on Saturday, June 13th. Finally, 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. Five equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $169.33.

NetApp Stock Performance

NetApp stock opened at $159.71 on Monday. 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 firm has a 50-day moving average price of $131.77 and a two-hundred day moving average price of $114.00. The firm has a market capitalization of $31.29 billion, a price-to-earnings ratio of 25.11, a PEG ratio of 2.92 and a beta of 1.44. NetApp, Inc. has a 52-week low of $93.69 and a 52-week high of $192.83.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Thursday, May 28th. The data storage provider reported $2.03 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.24). The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.87 billion. NetApp had a net margin of 18.43% and a return on equity of 117.23%. NetApp’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $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. Sell-side analysts expect that NetApp, Inc. will post 7.16 earnings per share for the current year.

NetApp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 29th. Investors of record on Friday, July 10th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, July 10th. NetApp’s dividend payout ratio (DPR) is currently 32.70%.

Insider Buying and Selling at NetApp

In other NetApp news, CAO Lorenzo Daniel De sold 225 shares of NetApp 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 owned 1,090 shares of the company’s stock, valued at $186,488.10. The trade was a 17.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $163.48, for a total value of $163,480.00. Following the transaction, the executive vice president owned 32,297 shares of the company’s stock, valued at $5,279,913.56. This trade represents a 3.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,500 shares of company stock worth $448,955 in the last ninety days. 0.28% of the stock is owned by company 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.