NetApp, Inc. $NTAP Shares Acquired by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC boosted its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 93.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 36,456 shares of the data storage provider’s stock after acquiring an additional 17,657 shares during the quarter. Los Angeles Capital Management LLC’s holdings in NetApp were worth $4,213,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in NetApp by 17.1% during the third quarter. Wellington Management Group LLP now owns 4,915,553 shares of the data storage provider’s stock worth $582,296,000 after buying an additional 718,409 shares during the period. Norges Bank acquired a new position in NetApp during the fourth quarter worth approximately $458,060,000. Boston Partners increased its position in NetApp by 12.6% during the third quarter. Boston Partners now owns 3,317,605 shares of the data storage provider’s stock worth $393,027,000 after buying an additional 370,405 shares during the period. Northern Trust Corp increased its position in NetApp by 1.0% during the third quarter. Northern Trust Corp now owns 2,903,077 shares of the data storage provider’s stock worth $343,899,000 after buying an additional 29,871 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in NetApp by 0.6% during the third quarter. Dimensional Fund Advisors LP now owns 2,091,817 shares of the data storage provider’s stock worth $247,795,000 after buying an additional 13,195 shares during the period. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $117.73, for a total value of $117,730.00. Following the completion of the transaction, the executive vice president directly owned 18,382 shares of the company’s stock, valued at $2,164,112.86. The trade was a 5.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Lorenzo Daniel De sold 275 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $120.00, for a total value of $33,000.00. Following the completion of the transaction, the chief accounting officer owned 1,090 shares of the company’s stock, valued at $130,800. The trade was a 20.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 2,500 shares of company stock valued at $285,475. Insiders own 0.28% of the company’s stock.

NetApp Stock Up 2.0%

NetApp stock opened at $170.31 on Tuesday. 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, Inc. has a 1-year low of $93.69 and a 1-year high of $192.83. The company has a market cap of $33.61 billion, a PE ratio of 26.78, a price-to-earnings-growth ratio of 3.06 and a beta of 1.44. The stock’s 50 day moving average price is $121.12 and its 200 day moving average price is $110.73.

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). The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. NetApp had a return on equity of 117.23% and a net margin of 18.43%.The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.93 earnings per share. 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, sell-side analysts predict that NetApp, Inc. will post 7.14 EPS for the current fiscal year.

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Friday, July 10th will be issued 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 of this dividend is Friday, July 10th. NetApp’s payout ratio is 32.70%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Northland Securities lifted their price target on NetApp from $137.00 to $171.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. Wall Street Zen downgraded NetApp from a “buy” rating to a “hold” rating in a research note on Sunday, April 19th. Citigroup lifted their target price on NetApp from $114.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Morgan Stanley lifted their target price on NetApp from $88.00 to $137.00 and gave the company an “underweight” rating in a research note on Friday, May 29th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $200.00 target price on shares of NetApp in a research note on Tuesday, June 2nd. Four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $169.33.

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.