Keybank National Association OH Reduces Position in NetApp, Inc. $NTAP

Keybank National Association OH decreased its holdings in NetApp, Inc. (NASDAQ:NTAP) by 16.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,754 shares of the data storage provider’s stock after selling 4,087 shares during the quarter. Keybank National Association OH’s holdings in NetApp were worth $2,125,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Park Square Financial Group LLC boosted its stake 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 buying an additional 103 shares during the last quarter. Gen Wealth Partners Inc acquired a new stake in NetApp in the fourth quarter valued at $30,000. DV Equities LLC bought a new position in NetApp during the 4th quarter valued at $30,000. Roble Belko & Company Inc bought a new position in NetApp during the 1st quarter valued at $31,000. Finally, JFS Wealth Advisors LLC grew its holdings in NetApp by 176.3% during the 4th quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider’s stock worth $34,000 after acquiring an additional 201 shares in the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Insider Activity at NetApp

In other NetApp news, President Cesar Cernuda sold 49,464 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $154.82, for a total value of $7,658,016.48. Following the sale, the president directly owned 46,806 shares of the company’s stock, valued at $7,246,504.92. This trade represents a 51.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $117.73, for a total value of $117,730.00. Following the completion of the sale, the executive vice president owned 18,382 shares in the company, valued at $2,164,112.86. The trade was a 5.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 52,964 shares of company stock worth $8,106,972 in the last 90 days. 0.28% of the stock is currently owned by company insiders.

NetApp Price Performance

Shares of NASDAQ:NTAP opened at $154.17 on Monday. The company has a market cap of $30.20 billion, a PE ratio of 24.24, a P/E/G ratio of 2.82 and a beta of 1.46. NetApp, Inc. has a fifty-two week low of $93.69 and a fifty-two week high of $192.83. The firm has a 50-day simple moving average of $142.29 and a 200 day simple moving average of $116.72. 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 issued 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 business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the prior year, the business earned $1.93 EPS. The business’s 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. On average, sell-side analysts anticipate that NetApp, Inc. will post 7.16 EPS for the current year.

NetApp Announces Dividend

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

Analyst Ratings Changes

NTAP has been the subject of several research analyst reports. Citigroup boosted their target price on shares of NetApp from $114.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. The Goldman Sachs Group reissued a “buy” rating and issued a $200.00 price objective on shares of NetApp in a report on Tuesday, June 2nd. Bank of America upped their price objective on NetApp from $125.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Susquehanna increased their target price on NetApp from $110.00 to $185.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Finally, Weiss Ratings upgraded NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Five investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $169.33.

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.