Sei Investments Co. Purchases 144,801 Shares of NetApp, Inc. $NTAP

Sei Investments Co. raised its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 22.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 803,450 shares of the data storage provider’s stock after purchasing an additional 144,801 shares during the quarter. Sei Investments Co.’s holdings in NetApp were worth $82,265,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of NTAP. Park Square Financial Group LLC lifted its position in shares of NetApp by 68.7% in the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock valued at $29,000 after acquiring an additional 103 shares in the last quarter. Gen Wealth Partners Inc purchased a new stake in shares of NetApp during the fourth quarter worth about $30,000. DV Equities LLC purchased a new stake in shares of NetApp during the fourth quarter worth about $30,000. Roble Belko & Company Inc bought a new stake in NetApp during the 1st quarter valued at approximately $31,000. Finally, JFS Wealth Advisors LLC raised its stake in NetApp by 176.3% during the 4th quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider’s stock valued at $34,000 after purchasing an additional 201 shares during the period. 92.17% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Lorenzo Daniel De sold 225 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $171.09, for a total transaction of $38,495.25. Following the transaction, the chief accounting officer owned 1,090 shares of the company’s stock, valued at approximately $186,488.10. The trade was a 17.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Cesar Cernuda sold 49,464 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $154.82, for a total value of $7,658,016.48. Following the completion of the sale, the president owned 46,806 shares of the company’s stock, valued at approximately $7,246,504.92. This represents a 51.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 52,964 shares of company stock valued at $8,181,642 over the last ninety days. 0.28% of the stock is owned by insiders.

NetApp Stock Performance

NASDAQ:NTAP opened at $167.74 on Friday. The company has a market cap of $32.92 billion, a price-to-earnings ratio of 26.37, a PEG ratio of 3.01 and a beta of 1.46. NetApp, Inc. has a 1 year low of $93.69 and a 1 year high of $192.83. The stock’s 50 day simple moving average is $157.95 and its two-hundred day simple moving average is $122.54. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.44 and a quick ratio of 1.39.

NetApp (NASDAQ:NTAP) last posted its earnings results on Thursday, May 28th. The data storage provider reported $2.03 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.24). NetApp had a net margin of 18.43% and a return on equity of 117.23%. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the company posted $1.93 earnings per share. The firm’s revenue was up 12.5% compared to the same quarter last year. 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 anticipate that NetApp, Inc. will post 7.16 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, July 10th. NetApp’s payout ratio is presently 32.70%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NTAP. Weiss Ratings raised shares of NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Wedbush raised their target price on shares of NetApp from $115.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Susquehanna lifted their price target on shares of NetApp from $110.00 to $185.00 and gave the company a “neutral” rating in a report on Friday, May 29th. UBS Group reiterated a “neutral” rating and issued a $160.00 price target on shares of NetApp in a research note on Friday, May 29th. Finally, Barclays increased their price objective on shares of NetApp from $120.00 to $199.00 and gave the company an “overweight” rating in a report on Friday, May 29th. Five investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, NetApp has a consensus rating of “Hold” and a consensus 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.