Kestra Advisory Services LLC Acquires 5,800 Shares of NetApp, Inc. $NTAP

Kestra Advisory Services LLC grew its holdings in NetApp, Inc. (NASDAQ:NTAP) by 33.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,286 shares of the data storage provider’s stock after purchasing an additional 5,800 shares during the period. Kestra Advisory Services LLC’s holdings in NetApp were worth $4,892,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Claro Advisors Inc. acquired a new stake in NetApp during the third quarter valued at $216,000. Commonwealth Equity Services LLC lifted its stake in NetApp by 9.2% in the third quarter. Commonwealth Equity Services LLC now owns 26,173 shares of the data storage provider’s stock valued at $5,498,000 after acquiring an additional 2,203 shares during the last quarter. Chicago Partners Investment Group LLC lifted its stake in NetApp by 15.8% in the third quarter. Chicago Partners Investment Group LLC now owns 3,888 shares of the data storage provider’s stock valued at $838,000 after acquiring an additional 530 shares during the last quarter. Ascent Group LLC lifted its stake in NetApp by 1.4% in the third quarter. Ascent Group LLC now owns 6,282 shares of the data storage provider’s stock valued at $1,320,000 after acquiring an additional 86 shares during the last quarter. Finally, Caldwell Trust Co increased its stake in shares of NetApp by 17.1% during the 3rd quarter. Caldwell Trust Co now owns 4,776 shares of the data storage provider’s stock worth $1,003,000 after purchasing an additional 696 shares during the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insiders Place Their Bets

In related news, Director Deepak Ahuja sold 3,450 shares of the firm’s stock in a transaction 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 sale, the director directly owned 12,814 shares of the company’s stock, valued at $2,562,800. This trade represents a 21.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Elizabeth O’Callahan sold 1,000 shares of the business’s stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $175.95, for a total value of $175,950.00. Following the completion of the transaction, the executive vice president directly owned 29,423 shares in the company, valued at approximately $5,176,976.85. This represents a 3.29% 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 valued at $35,000,256 in the last 90 days. Insiders own 0.36% of the company’s stock.

NetApp Stock Performance

Shares of NASDAQ NTAP opened at $186.08 on Friday. The firm has a market capitalization of $36.55 billion, a price-to-earnings ratio of 26.25, a PEG ratio of 1.97 and a beta of 1.52. NetApp, Inc. has a one year low of $93.69 and a one year high of $240.87. The business has a fifty day simple moving average of $203.90 and a 200 day simple moving average of $153.57. The company has a current ratio of 1.24, a quick ratio of 1.16 and a debt-to-equity ratio of 1.30.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Wednesday, September 2nd. The data storage provider reported $2.58 earnings per share (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 analysts’ expectations of $1.84 billion. During the same quarter in the prior year, the company posted $1.15 EPS. The business’s 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. Sell-side analysts expect that NetApp, Inc. will post 8.32 EPS for the current year.

NetApp Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have commented on the stock. Evercore raised shares of 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. Barclays downgraded NetApp from an “overweight” rating to an “equal weight” rating and set a $219.00 price target on the stock. in a report on Wednesday, October 14th. Wall Street Zen lowered shares of NetApp from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 31st. Zacks Research downgraded shares of NetApp from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Finally, Morgan Stanley boosted their target price on shares of NetApp from $173.00 to $191.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 3rd. Eleven research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.24.

About NetApp

NetApp, Inc. develops data storage and data management technologies for businesses and other organizations. Its offerings support workloads across on-premises infrastructure, public cloud environments and hybrid settings, with services for storing, managing, protecting and moving data. The company’s portfolio includes its ONTAP data management software, all-flash and hybrid-flash storage systems, object storage, and cloud storage and data services. NetApp also provides tools to help customers manage data across different environments and offers infrastructure through its Keystone storage-as-a-service model.