Arvest Bank Trust Division Acquires Shares of 29,994 NetApp, Inc. $NTAP

Arvest Bank Trust Division bought a new stake in NetApp, Inc. (NASDAQ:NTAP) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 29,994 shares of the data storage provider’s stock, valued at approximately $3,071,000.

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

Wall Street Analysts Forecast Growth

NTAP has been the subject of a number of recent analyst reports. Citigroup raised their target price on NetApp from $114.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Wedbush boosted their price objective on shares of NetApp from $115.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. The Goldman Sachs Group reiterated a “buy” rating and set a $200.00 price target on shares of NetApp in a research report on Tuesday, June 2nd. Bank of America raised their price objective on NetApp from $125.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Finally, Morgan Stanley upped their target price on NetApp from $88.00 to $137.00 and gave the company an “underweight” rating in a report on Friday, May 29th. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $169.33.

Insider Transactions at NetApp

In related news, 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 transaction, the chief accounting officer owned 1,090 shares of the company’s stock, valued at approximately $186,488.10. This represents a 17.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction on Friday, July 10th. The shares were sold at an average price of $170.92, for a total transaction of $170,920.00. Following the completion of the transaction, the executive vice president owned 31,297 shares in the company, valued at approximately $5,349,283.24. This trade represents a 3.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 52,964 shares of company stock worth $8,181,642 over the last quarter. 0.28% of the stock is currently owned by insiders.

NetApp Price Performance

Shares of NASDAQ:NTAP opened at $165.76 on Wednesday. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.39 and a current ratio of 1.44. The business’s fifty day moving average price is $155.14 and its two-hundred day moving average price is $121.40. The stock has a market cap of $32.53 billion, a PE ratio of 26.06, a price-to-earnings-growth ratio of 2.94 and a beta of 1.46. NetApp, Inc. has a one year low of $93.69 and a one year high of $192.83.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Thursday, May 28th. The data storage provider reported $2.03 earnings per share (EPS) 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 analysts’ expectations of $1.87 billion. During the same quarter in the prior year, the company earned $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. On average, analysts forecast that NetApp, Inc. will post 7.16 EPS for the current fiscal year.

NetApp Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, July 10th. NetApp’s dividend payout ratio is currently 32.70%.

NetApp 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.