3,219 Shares in NetApp, Inc. $NTAP Acquired by Johnson Financial Group Inc.

Johnson Financial Group Inc. purchased a new stake in shares of NetApp, Inc. (NASDAQ:NTAP) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,219 shares of the data storage provider’s stock, valued at approximately $498,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of NetApp in the 2nd quarter worth $2,925,168,000. Norges Bank purchased a new stake in shares of NetApp during the 4th quarter valued at about $458,060,000. First Trust Advisors LP increased its stake in shares of NetApp by 127.0% in the 1st quarter. First Trust Advisors LP now owns 3,658,066 shares of the data storage provider’s stock worth $374,549,000 after purchasing an additional 2,046,912 shares in the last quarter. Deutsche Bank AG purchased a new stake in NetApp in the second quarter worth about $195,203,000. Finally, Bank of New York Mellon Corp purchased a new stake in NetApp in the 2nd quarter worth approximately $181,772,000. Institutional investors own 92.17% of the company’s stock.

Insider Activity

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president directly owned 30,297 shares in the company, valued at approximately $5,872,164.54. This trade represents a 3.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 completion of the transaction, the chief accounting officer directly owned 1,090 shares of the company’s stock, valued at $186,488.10. This trade represents a 17.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 55,297 shares of company stock worth $8,758,016. Corporate insiders own 0.36% of the company’s stock.

NetApp Price Performance

NTAP opened at $194.48 on Thursday. NetApp, Inc. has a 12-month low of $93.69 and a 12-month 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. The business’s fifty day simple moving average is $171.67 and its 200-day simple moving average is $133.81. The company has a market capitalization of $38.16 billion, a price-to-earnings ratio of 30.58, a PEG ratio of 3.67 and a beta of 1.45.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data 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 firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the firm earned $1.93 earnings per share. The business’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. On average, equities research analysts anticipate that NetApp, Inc. will post 7.3 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 29th. Stockholders of record on Friday, July 10th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, July 10th. NetApp’s dividend payout ratio is presently 32.70%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. 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. Wall Street Zen cut shares of NetApp from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 29th. Weiss Ratings upgraded NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, June 8th. Wells Fargo & Company increased their target price 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. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $200.00 price target on shares of NetApp in a report on Tuesday, June 2nd. Five investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, NetApp presently has an average rating of “Hold” and a consensus target price of $177.25.

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.