Fairvoy Private Wealth LLC Purchases 7,489 Shares of NetApp, Inc. $NTAP

Fairvoy Private Wealth LLC purchased a new stake in shares of NetApp, Inc. (NASDAQ:NTAP) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 7,489 shares of the data storage provider’s stock, valued at approximately $1,573,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. SteelPeak Wealth LLC acquired a new position in NetApp during the third quarter worth $476,000. IFP Advisors Inc raised its holdings in NetApp by 46.0% during the third quarter. IFP Advisors Inc now owns 3,912 shares of the data storage provider’s stock valued at $822,000 after buying an additional 1,233 shares in the last quarter. Absolute Capital Management LLC bought a new position in NetApp during the third quarter valued at about $303,000. USA Financial Formulas bought a new position in NetApp during the third quarter valued at about $985,000. Finally, Hutchens & Kramer Investment Management Group LLC lifted its position in shares of NetApp by 4.4% in the third quarter. Hutchens & Kramer Investment Management Group LLC now owns 1,935 shares of the data storage provider’s stock worth $407,000 after buying an additional 82 shares during the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insider Buying and Selling at NetApp

In related news, CEO George Kurian sold 10,000 shares of the stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $210.04, for a total value of $2,100,400.00. Following the completion of the transaction, the chief executive officer owned 208,537 shares of the company’s stock, valued at $43,801,111.48. This represents a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Carrie Palin sold 5,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at $1,441,423.80. This trade represents a 42.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 173,524 shares of company stock worth $35,018,126 in the last 90 days. 0.36% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NTAP. Wall Street Zen upgraded shares of NetApp from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 5th. Evercore raised shares of NetApp from an “in-line” rating to an “outperform” rating and set a $300.00 price objective for the company in a research report on Wednesday, October 7th. Barclays cut shares of NetApp from an “overweight” rating to an “equal weight” rating and set a $219.00 target price for the company. in a research note on Wednesday, October 14th. Citigroup reduced their target price on shares of NetApp from $209.00 to $190.00 and set a “neutral” rating for the company in a research note on Thursday, September 3rd. Finally, Loop Capital set a $300.00 target price on NetApp in a research report on Wednesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $213.20.

NetApp Stock Performance

Shares of NASDAQ NTAP traded up $3.57 during trading hours on Monday, reaching $207.37. The stock had a trading volume of 1,693,547 shares, compared to its average volume of 2,691,782. The business’s fifty day moving average is $201.97 and its two-hundred day moving average is $163.70. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.24 and a quick ratio of 1.16. The company has a market cap of $40.73 billion, a price-to-earnings ratio of 29.25, a PEG ratio of 2.19 and a beta of 1.46. NetApp, Inc. has a twelve month low of $93.69 and a twelve month high of $240.87.

NetApp (NASDAQ:NTAP) last issued its earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 EPS for the quarter, topping the consensus estimate of $2.12 by $0.46. The firm had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.84 billion. NetApp had a return on equity of 119.13% and a net margin of 19.18%. NetApp’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same period last year, the business earned $1.15 earnings per share. 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, research analysts expect that NetApp, Inc. will post 8.32 EPS for the current year.

NetApp Announces Dividend

The firm also recently announced 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. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, October 9th. NetApp’s payout ratio is 29.34%.

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.