Diversify Advisory Services LLC Invests $597,000 in NetApp, Inc. $NTAP

Diversify Advisory Services LLC bought a new stake in NetApp, Inc. (NASDAQ:NTAP) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 3,515 shares of the data storage provider’s stock, valued at approximately $597,000.

Several other large investors have also modified their holdings of NTAP. Wealthfront Advisers LLC acquired a new position in NetApp in the second quarter worth about $6,217,000. Meeder Advisory Services Inc. acquired a new stake in NetApp during the second quarter valued at approximately $1,138,000. Meeder Asset Management Inc. bought a new position in NetApp during the 2nd quarter worth approximately $4,429,000. Tiemann Investment Advisors LLC bought a new position in NetApp during the 2nd quarter worth approximately $229,000. Finally, Citizens Financial Group Inc. RI acquired a new position in shares of NetApp in the 2nd quarter worth approximately $315,000. Institutional investors own 92.17% of the company’s stock.

Insider Buying and Selling at NetApp

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $193.82, for a total transaction of $193,820.00. Following the completion of the transaction, the executive vice president owned 30,297 shares of the company’s stock, valued at approximately $5,872,164.54. The trade was a 3.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Cesar Cernuda sold 2,608 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $204.48, for a total transaction of $533,283.84. Following the transaction, the president owned 46,530 shares of the company’s stock, valued at $9,514,454.40. This represents a 5.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 55,297 shares of company stock worth $8,758,016. 0.36% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on NTAP shares. Argus boosted their price target on NetApp from $130.00 to $200.00 and gave the company a “buy” rating in a report on Monday, June 1st. Citigroup raised their price objective on NetApp from $150.00 to $209.00 and gave the stock a “neutral” rating in a research note on Tuesday. Susquehanna lifted their price objective on shares of NetApp from $110.00 to $185.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. UBS Group reiterated a “neutral” rating and set a $160.00 target price on shares of NetApp in a research note on Friday, May 29th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $200.00 target price on shares of NetApp in a report on Tuesday, June 2nd. Five research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $177.25.

NetApp Stock Down 0.9%

NASDAQ:NTAP opened at $192.81 on Friday. The firm has a market capitalization of $37.84 billion, a PE ratio of 30.32, a price-to-earnings-growth ratio of 3.49 and a beta of 1.45. The stock has a 50 day moving average of $172.32 and a 200-day moving average of $134.48. NetApp, Inc. has a 52 week low of $93.69 and a 52 week high of $209.06. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 1.84.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.24). NetApp had a return on equity of 117.23% and a net margin of 18.43%.The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period last year, the business posted $1.93 EPS. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. 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 7.3 EPS for the current year.

NetApp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, July 10th. NetApp’s dividend payout ratio (DPR) is presently 32.70%.

About NetApp

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.