Cetera Investment Advisers Acquires 17,079 Shares of NetApp, Inc. $NTAP

Cetera Investment Advisers boosted its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 27.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 79,707 shares of the data storage provider’s stock after buying an additional 17,079 shares during the period. Cetera Investment Advisers’ holdings in NetApp were worth $8,161,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of NTAP. Norges Bank bought a new position in shares of NetApp in the 4th quarter valued at approximately $458,060,000. First Trust Advisors LP boosted its position in NetApp by 127.0% during the first quarter. First Trust Advisors LP now owns 3,658,066 shares of the data storage provider’s stock worth $374,549,000 after purchasing an additional 2,046,912 shares during the period. SG Americas Securities LLC boosted its position in NetApp by 378.9% during the first quarter. SG Americas Securities LLC now owns 1,329,475 shares of the data storage provider’s stock worth $136,125,000 after purchasing an additional 1,051,863 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in NetApp by 94.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,823,292 shares of the data storage provider’s stock valued at $215,987,000 after purchasing an additional 886,485 shares during the last quarter. Finally, SEB Asset Management AB acquired a new position in NetApp during the first quarter valued at approximately $89,977,000. 92.17% of the stock is currently owned by institutional investors.

NetApp Stock Up 2.6%

Shares of NTAP stock opened at $178.50 on Friday. NetApp, Inc. has a 12 month low of $93.69 and a 12 month high of $192.83. The firm has a market cap of $35.03 billion, a PE ratio of 28.07, a price-to-earnings-growth ratio of 3.18 and a beta of 1.46. The stock has a 50 day moving average of $162.88 and a 200-day moving average of $124.94. 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 posted its quarterly earnings data on Thursday, May 28th. The data storage provider reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.24). The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. NetApp had a net margin of 18.43% and a return on equity of 117.23%. The firm’s revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.93 earnings per share. 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, equities analysts predict that NetApp, Inc. will post 7.16 EPS for the current year.

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. NetApp’s dividend payout ratio is 32.70%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NTAP shares. Susquehanna boosted their price objective on shares of NetApp from $110.00 to $185.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Bank of America raised their target price 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. Wall Street Zen downgraded shares of NetApp from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Wells Fargo & Company boosted their target price on shares of NetApp from $115.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Friday, May 29th. Finally, Citigroup upped their price target on shares of NetApp from $114.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $169.33.

Insiders Place Their Bets

In other news, President Cesar Cernuda sold 49,464 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $154.82, for a total transaction of $7,658,016.48. Following the transaction, the president owned 46,806 shares in the company, valued at approximately $7,246,504.92. The trade was a 51.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Lorenzo Daniel De sold 225 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $171.09, for a total transaction of $38,495.25. Following the transaction, the chief accounting officer directly owned 1,090 shares of the company’s stock, valued at $186,488.10. This represents a 17.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 52,964 shares of company stock worth $8,181,642 in the last ninety days. Insiders own 0.28% of the company’s stock.

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.