3,372 Shares in NetApp, Inc. $NTAP Purchased by Baer Investment Advisory LLC

Baer Investment Advisory LLC acquired a new stake in NetApp, Inc. (NASDAQ:NTAP) in the first quarter, Holdings Channel reports. The firm acquired 3,372 shares of the data storage provider’s stock, valued at approximately $345,000.

Other large investors have also recently added to or reduced their stakes in the company. Park Square Financial Group LLC boosted its holdings in NetApp by 68.7% in the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock valued at $29,000 after purchasing an additional 103 shares during the period. Gen Wealth Partners Inc purchased a new position in NetApp in the fourth quarter worth approximately $30,000. DV Equities LLC acquired a new position in NetApp during the 4th quarter worth approximately $30,000. Roble Belko & Company Inc purchased a new stake in shares of NetApp in the 1st quarter valued at approximately $31,000. Finally, JFS Wealth Advisors LLC increased its position in shares of NetApp by 176.3% in the 4th quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider’s stock valued at $34,000 after purchasing an additional 201 shares during the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.

NetApp Price Performance

Shares of NASDAQ:NTAP opened at $154.17 on Monday. NetApp, Inc. has a 1-year low of $93.69 and a 1-year high of $192.83. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.44 and a quick ratio of 1.39. The stock has a market cap of $30.20 billion, a P/E ratio of 24.24, a P/E/G ratio of 2.82 and a beta of 1.46. The firm has a fifty day moving average price of $142.29 and a 200 day moving average price of $116.72.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results 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). The company 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%. The business’s revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the firm 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. Sell-side analysts predict that NetApp, Inc. will post 7.16 EPS for the current year.

NetApp Announces Dividend

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

Insider Transactions at NetApp

In other news, President Cesar Cernuda sold 49,464 shares of NetApp stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $154.82, for a total value of $7,658,016.48. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $163.48, for a total transaction of $163,480.00. Following the transaction, the executive vice president owned 32,297 shares in the company, valued at approximately $5,279,913.56. This trade represents a 3.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 52,964 shares of company stock worth $8,106,972. Company insiders own 0.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on NTAP shares. JPMorgan Chase & Co. boosted their target price on shares of NetApp from $110.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Weiss Ratings raised NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Susquehanna upped their price objective on NetApp from $110.00 to $185.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Barclays increased their price objective on NetApp from $120.00 to $199.00 and gave the company an “overweight” rating in a report on Friday, May 29th. Finally, Wedbush raised their target price on NetApp from $115.00 to $150.00 and gave the stock a “neutral” rating in a research report 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $169.33.

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.