Lifeworks Advisors LLC Acquires 9,952 Shares of NetApp, Inc. $NTAP

Lifeworks Advisors LLC boosted its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 24.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,685 shares of the data storage provider’s stock after purchasing an additional 9,952 shares during the period. Lifeworks Advisors LLC’s holdings in NetApp were worth $5,190,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. boosted its stake in NetApp by 38.3% in the first quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider’s stock worth $67,000 after purchasing an additional 210 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of NetApp in the second quarter valued at $315,000. Cerity Partners LLC increased its stake in shares of NetApp by 9.9% in the second quarter. Cerity Partners LLC now owns 46,792 shares of the data storage provider’s stock valued at $4,986,000 after buying an additional 4,232 shares in the last quarter. Bank of Nova Scotia raised its holdings in shares of NetApp by 7.3% in the second quarter. Bank of Nova Scotia now owns 24,301 shares of the data storage provider’s stock valued at $2,589,000 after buying an additional 1,662 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of NetApp by 12.7% in the second quarter. NewEdge Advisors LLC now owns 20,161 shares of the data storage provider’s stock valued at $2,148,000 after buying an additional 2,277 shares during the last quarter. Institutional investors own 92.17% of the company’s stock.

Insider Activity at NetApp

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $163.48, for a total transaction of $163,480.00. Following the completion of the transaction, the executive vice president owned 32,297 shares in the company, valued at approximately $5,279,913.56. The trade was a 3.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Lorenzo Daniel De sold 225 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $171.09, for a total transaction of $38,495.25. Following the completion of the sale, the chief accounting officer directly owned 1,090 shares of the company’s stock, valued at $186,488.10. The trade was a 17.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 51,964 shares of company stock worth $8,010,722 in the last ninety days. Company insiders own 0.28% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of NetApp from $110.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Citigroup raised their price objective on shares of NetApp from $114.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Wall Street Zen downgraded shares of NetApp from a “strong-buy” rating to a “buy” rating in a research note on Monday. UBS Group reiterated a “neutral” rating and set a $160.00 target price on shares of NetApp in a research report on Friday, May 29th. Finally, Wells Fargo & Company increased their price target on shares of NetApp from $115.00 to $180.00 and gave the company an “equal weight” rating in a research note on Friday, May 29th. Five analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, NetApp presently has an average rating of “Hold” and a consensus target price of $169.33.

NetApp Price Performance

Shares of NetApp stock opened at $168.87 on Monday. The business has a fifty day simple moving average of $148.15 and a 200 day simple moving average of $118.68. The stock has a market cap of $33.09 billion, a PE ratio of 26.55, a price-to-earnings-growth ratio of 3.09 and a beta of 1.46. The company has a quick ratio of 1.39, a current ratio of 1.44 and a debt-to-equity ratio of 1.84. NetApp, Inc. has a 12 month low of $93.69 and a 12 month high of $192.83.

NetApp (NASDAQ:NTAP) last released its earnings results 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). NetApp had a net margin of 18.43% and a return on equity of 117.23%. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period in the previous year, the company posted $1.93 EPS. The company’s quarterly 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. Research analysts predict that NetApp, Inc. will post 7.16 EPS for the current year.

NetApp Dividend Announcement

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