IPG Investment Advisors LLC Makes New $2.59 Million Investment in NetApp, Inc. $NTAP

IPG Investment Advisors LLC acquired a new stake in NetApp, Inc. (NASDAQ:NTAP) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,328 shares of the data storage provider’s stock, valued at approximately $2,590,000.

Other institutional investors have also modified their holdings of the company. West Financial Advisors LLC acquired a new position in NetApp during the second quarter worth about $37,000. Fortitude Family Office LLC raised its position in NetApp by 56.9% in the third quarter. Fortitude Family Office LLC now owns 204 shares of the data storage provider’s stock worth $43,000 after acquiring an additional 74 shares in the last quarter. Bell Investment Advisors Inc acquired a new stake in NetApp in the 2nd quarter valued at about $55,000. Elevation Wealth Partners LLC lifted its holdings in NetApp by 90.8% in the 3rd quarter. Elevation Wealth Partners LLC now owns 292 shares of the data storage provider’s stock valued at $61,000 after acquiring an additional 139 shares during the last quarter. Finally, Compass Financial Management LLC acquired a new stake in NetApp in the 2nd quarter valued at about $70,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insiders Place Their Bets

In related news, Director Carrie Palin sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $216.43, for a total value of $1,082,150.00. Following the completion of the transaction, the director owned 6,660 shares of the company’s stock, valued at approximately $1,441,423.80. This trade represents a 42.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Deepak Ahuja sold 3,450 shares of the firm’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $200.00, for a total transaction of $690,000.00. Following the completion of the transaction, the director directly owned 12,814 shares of the company’s stock, valued at $2,562,800. This represents a 21.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 173,524 shares of company stock worth $35,018,126 in the last quarter. Corporate insiders own 0.36% of the company’s stock.

NetApp Trading Up 3.0%

Shares of NTAP opened at $190.78 on Wednesday. The business’s 50-day moving average price is $205.11 and its 200 day moving average price is $150.83. The company has a current ratio of 1.24, a quick ratio of 1.16 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $37.47 billion, a P/E ratio of 26.91, a P/E/G ratio of 1.99 and a beta of 1.52. NetApp, Inc. has a 1-year low of $93.69 and a 1-year high of $240.87.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, September 2nd. The data storage provider reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.46. NetApp had a net margin of 19.18% and a return on equity of 119.13%. The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the firm earned $1.15 earnings per share. The business’s quarterly revenue was up 29.9% on a year-over-year basis. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. Analysts expect that NetApp, Inc. will post 8.32 earnings per share for the current year.

NetApp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 28th. Investors of record on Friday, October 9th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, October 9th. NetApp’s dividend payout ratio is 29.34%.

Analyst Ratings Changes

NTAP has been the topic of several recent research reports. Evercore raised shares of NetApp from an “in-line” rating to an “outperform” rating and set a $300.00 price objective on the stock in a research note on Wednesday, October 7th. UBS Group increased their target price on shares of NetApp from $160.00 to $171.00 and gave the company a “neutral” rating in a research note on Thursday, September 3rd. Zacks Research upgraded shares of NetApp from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 9th. TD Cowen raised their target price on shares of NetApp from $200.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, October 6th. Finally, Wedbush lifted their price target on shares of NetApp from $150.00 to $170.00 and gave the stock a “neutral” rating in a research report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, NetApp presently has an average rating of “Moderate Buy” and an average price target of $205.24.

NetApp Profile

NetApp, Inc is a data infrastructure and cloud storage company that helps organizations manage, protect and access data across on-premises data centers, public clouds and hybrid environments. Its offerings support enterprise applications, artificial intelligence workloads, business analytics, backup and disaster recovery.

The company’s portfolio includes all-flash and hybrid-flash storage systems, the ONTAP data management operating system, StorageGRID object storage and Keystone storage-as-a-service.