NetApp, Inc. $NTAP Shares Sold by Lido Advisors LLC

Lido Advisors LLC trimmed its position in NetApp, Inc. (NASDAQ:NTAP) by 54.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,432 shares of the data storage provider’s stock after selling 5,252 shares during the period. Lido Advisors LLC’s holdings in NetApp were worth $454,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of NetApp in the fourth quarter valued at about $458,060,000. First Trust Advisors LP increased its stake in shares of 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 acquiring an additional 2,046,912 shares during the period. SG Americas Securities LLC raised its holdings 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 in the last quarter. Arrowstreet Capital Limited Partnership raised 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 worth $215,987,000 after purchasing an additional 886,485 shares in the last quarter. Finally, SEB Asset Management AB acquired a new stake in NetApp in the first quarter valued at about $89,977,000. 92.17% of the stock is owned by institutional investors and hedge funds.

NetApp Price Performance

Shares of NASDAQ:NTAP opened at $173.98 on Friday. The firm has a market capitalization of $34.14 billion, a price-to-earnings ratio of 27.36, a price-to-earnings-growth ratio of 3.16 and a beta of 1.46. 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’s 50 day simple moving average is $162.10 and its 200-day simple moving average is $124.57. NetApp, Inc. has a 12 month low of $93.69 and a 12 month high of $192.83.

NetApp (NASDAQ:NTAP) last released 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 firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.87 billion. NetApp had a net margin of 18.43% and a return on equity of 117.23%. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the previous year, the business earned $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. As a group, equities analysts forecast that NetApp, Inc. will post 7.16 earnings per share for the current fiscal year.

NetApp Announces Dividend

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

Insider Transactions at NetApp

In related news, President Cesar Cernuda sold 49,464 shares of the stock in a transaction dated Tuesday, June 23rd. The shares were 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 approximately $7,246,504.92. This represents a 51.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $170.92, for a total transaction of $170,920.00. Following the transaction, the executive vice president owned 31,297 shares of the company’s stock, valued at approximately $5,349,283.24. The trade was a 3.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 52,964 shares of company stock valued at $8,181,642 in the last 90 days. 0.28% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Barclays lifted their price objective on NetApp from $120.00 to $199.00 and gave the company an “overweight” rating in a report on Friday, May 29th. Wells Fargo & Company raised their price target on NetApp from $115.00 to $180.00 and gave the company an “equal weight” rating in a report on Friday, May 29th. JPMorgan Chase & Co. lifted their price target on NetApp from $110.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. UBS Group reiterated a “neutral” rating and issued a $160.00 price objective on shares of NetApp in a research report on Friday, May 29th. Finally, Susquehanna boosted their target price on shares of NetApp from $110.00 to $185.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. 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 currently has a consensus rating of “Hold” and an average price target 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.