NetApp, Inc. $NTAP Stock Acquired by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. raised its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 11.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 127,768 shares of the data storage provider’s stock after purchasing an additional 12,803 shares during the quarter. Crossmark Global Holdings Inc. owned 0.07% of NetApp worth $26,842,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NTAP. 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 during the period. West Financial Advisors LLC purchased a new position in shares of NetApp during the 2nd quarter worth $37,000. Elevation Wealth Partners LLC boosted its stake in shares of NetApp by 90.8% during the 3rd quarter. Elevation Wealth Partners LLC now owns 292 shares of the data storage provider’s stock worth $61,000 after acquiring an additional 139 shares during the last quarter. Bell Investment Advisors Inc bought a new stake in shares of NetApp during the 2nd quarter valued at $55,000. Finally, Compass Financial Management LLC bought a new stake in shares of NetApp during the 2nd quarter valued at $70,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

NetApp Stock Performance

NASDAQ NTAP opened at $217.21 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.24 and a debt-to-equity ratio of 1.30. NetApp, Inc. has a twelve month low of $93.69 and a twelve month high of $240.87. The business has a 50-day moving average price of $202.67 and a 200-day moving average price of $166.00. The firm has a market cap of $42.66 billion, a price-to-earnings ratio of 28.26, a price-to-earnings-growth ratio of 2.26 and a beta of 1.46.

NetApp (NASDAQ:NTAP) last issued its earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.46. NetApp had a return on equity of 119.13% and a net margin of 19.18%. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter last year, the company earned $1.15 EPS. The firm’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. As a group, equities research analysts predict that NetApp, Inc. will post 8.32 EPS for the current fiscal year.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Friday, October 9th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, October 9th. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. NetApp’s dividend payout ratio (DPR) is presently 29.34%.

Analyst Upgrades and Downgrades

NTAP has been the subject of several analyst reports. Wells Fargo & Company upped their price objective on NetApp from $180.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 3rd. Susquehanna lifted their target price on NetApp from $185.00 to $195.00 and gave the company a “neutral” rating in a research report on Thursday, September 3rd. Evercore upgraded NetApp from an “in-line” rating to an “outperform” rating and set a $300.00 target price on the stock in a research report on Wednesday, October 7th. Morgan Stanley boosted their price target on NetApp from $173.00 to $191.00 and gave the company an “equal weight” rating in a report on Thursday, September 3rd. Finally, Argus set a $225.00 price target on NetApp in a research report on Friday, September 11th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $213.20.

Insider Activity

In other news, Director Deepak Ahuja sold 3,450 shares of the business’s stock in a transaction on Monday, September 21st. The shares were sold at an average price of $200.00, for a total value of $690,000.00. Following the transaction, the director owned 12,814 shares of the company’s stock, valued at approximately $2,562,800. The trade was a 21.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carrie Palin sold 5,000 shares of the business’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $216.43, for a total transaction of $1,082,150.00. Following the completion of the transaction, the director directly owned 6,660 shares in the company, valued at $1,441,423.80. This trade represents a 42.88% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 173,524 shares of company stock valued at $35,018,126. Company insiders own 0.36% of the company’s stock.

NetApp Company 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.