Insight Wealth Strategies LLC Takes Position in NetApp, Inc. $NTAP

Insight Wealth Strategies LLC bought a new position in shares of NetApp, Inc. (NASDAQ:NTAP) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 37,378 shares of the data storage provider’s stock, valued at approximately $5,845,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Parallel Advisors LLC raised its stake in shares of NetApp by 2.1% in the fourth quarter. Parallel Advisors LLC now owns 5,007 shares of the data storage provider’s stock worth $536,000 after purchasing an additional 101 shares during the last quarter. Park Square Financial Group LLC raised 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 worth $29,000 after purchasing an additional 103 shares during the period. Assetmark Inc. raised its position in NetApp by 3.0% in the first quarter. Assetmark Inc. now owns 3,540 shares of the data storage provider’s stock worth $362,000 after acquiring an additional 104 shares during the period. Transcend Capital Advisors LLC raised its holdings in shares of NetApp by 5.8% in the 4th quarter. Transcend Capital Advisors LLC now owns 1,953 shares of the data storage provider’s stock worth $209,000 after purchasing an additional 107 shares during the period. Finally, Fifth Third Bancorp lifted its position in shares of NetApp by 0.9% during the 4th quarter. Fifth Third Bancorp now owns 12,559 shares of the data storage provider’s stock valued at $1,345,000 after buying an additional 108 shares during the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insider Buying and Selling at NetApp

In other NetApp news, CAO Lorenzo Daniel De sold 225 shares of the company’s stock in a transaction that occurred 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 transaction, the chief accounting officer owned 1,090 shares in the company, valued at approximately $186,488.10. This represents a 17.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Cesar Cernuda sold 49,464 shares of the stock in a transaction that occurred 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 completion of the transaction, the president directly owned 46,806 shares of the company’s stock, valued at $7,246,504.92. This represents a 51.38% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 51,964 shares of company stock valued at $8,063,912. 0.36% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Bank of America upped their price target on shares of NetApp from $125.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Susquehanna raised their price target on NetApp from $110.00 to $185.00 and gave the company a “neutral” rating in a report on Friday, May 29th. The Goldman Sachs Group restated a “buy” rating and set a $200.00 price objective on shares of NetApp in a research report on Tuesday, June 2nd. Barclays boosted their target price on NetApp from $120.00 to $199.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. Finally, Wedbush boosted their price target on shares of NetApp from $115.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Five analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $172.33.

NetApp Trading Down 0.1%

NTAP opened at $198.47 on Wednesday. NetApp, Inc. has a one year low of $93.69 and a one year high of $202.26. 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 business has a 50 day simple moving average of $167.78 and a two-hundred day simple moving average of $129.41. The firm has a market capitalization of $38.95 billion, a price-to-earnings ratio of 31.21, a PEG ratio of 3.63 and a beta of 1.45.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Thursday, May 28th. The data storage provider reported $2.03 earnings per share 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 quarter in the prior year, the business posted $1.93 earnings per share. NetApp’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. Analysts predict that NetApp, Inc. will post 7.16 EPS for the current year.

NetApp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Stockholders of record on Friday, July 10th were paid a dividend of $0.52 per share. 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 1.0%. NetApp’s payout ratio is presently 32.70%.

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.