Gotham Asset Management LLC Boosts Holdings in NetApp, Inc. $NTAP

Gotham Asset Management LLC lifted its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 16.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 483,487 shares of the data storage provider’s stock after buying an additional 68,492 shares during the period. Gotham Asset Management LLC owned approximately 0.24% of NetApp worth $51,777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in NetApp during the fourth quarter worth $458,060,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of NetApp by 94.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,823,292 shares of the data storage provider’s stock worth $215,987,000 after purchasing an additional 886,485 shares during the period. AQR Capital Management LLC grew its holdings in shares of NetApp by 71.6% during the 3rd quarter. AQR Capital Management LLC now owns 1,849,218 shares of the data storage provider’s stock worth $219,058,000 after purchasing an additional 771,835 shares during the period. Wellington Management Group LLP increased its position in shares of NetApp by 17.1% during the 3rd quarter. Wellington Management Group LLP now owns 4,915,553 shares of the data storage provider’s stock worth $582,296,000 after purchasing an additional 718,409 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in NetApp by 83.0% in the 2nd quarter. Bank of America Corp DE now owns 1,544,513 shares of the data storage provider’s stock valued at $164,568,000 after buying an additional 700,467 shares during the period. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. UBS Group reaffirmed a “neutral” rating and set a $160.00 target price on shares of NetApp in a research note on Friday, May 29th. Susquehanna boosted their price target on shares of NetApp from $110.00 to $185.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Weiss Ratings raised shares of NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, June 8th. Argus lifted their target price on shares of NetApp from $130.00 to $200.00 and gave the company a “buy” rating in a report on Monday, June 1st. Finally, JPMorgan Chase & Co. upped their price target on NetApp from $110.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Five research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $169.33.

Insider Transactions at NetApp

In other news, CAO Lorenzo Daniel De sold 225 shares of NetApp stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $171.09, for a total value of $38,495.25. Following the completion of the transaction, the chief accounting officer owned 1,090 shares in the company, valued at approximately $186,488.10. This trade represents a 17.11% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $163.48, for a total value of $163,480.00. Following the transaction, the executive vice president directly owned 32,297 shares of the company’s stock, valued at approximately $5,279,913.56. This represents a 3.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,500 shares of company stock worth $448,955 in the last ninety days. 0.28% of the stock is owned by corporate insiders.

NetApp Price Performance

Shares of NTAP opened at $154.81 on Thursday. NetApp, Inc. has a fifty-two week low of $93.69 and a fifty-two week high of $192.83. The firm’s 50 day moving average price is $129.32 and its 200 day moving average price is $113.33. The company has a market cap of $30.33 billion, a P/E ratio of 24.34, a PEG ratio of 2.95 and a beta of 1.45. 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 (NASDAQ:NTAP) last issued its quarterly earnings results on Thursday, May 28th. The data storage provider reported $2.03 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 business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the prior year, the business earned $1.93 EPS. The business’s quarterly revenue was up 12.5% on a year-over-year basis. 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, research analysts forecast that NetApp, Inc. will post 7.16 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, July 10th. This represents a $2.08 annualized dividend and a yield of 1.3%. NetApp’s dividend payout ratio is 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.