Quantbot Technologies LP Makes New Investment in NetApp, Inc. $NTAP

Quantbot Technologies LP bought a new position in NetApp, Inc. (NASDAQ:NTAP) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 10,132 shares of the data storage provider’s stock, valued at approximately $1,568,000.

A number of other institutional investors have also recently made changes to their positions in NTAP. Park Square Financial Group LLC increased its stake in NetApp by 68.7% during the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock worth $29,000 after acquiring an additional 103 shares during the last quarter. Gen Wealth Partners Inc purchased a new position in shares of NetApp in the 4th quarter worth approximately $30,000. DV Equities LLC purchased a new position in shares of NetApp in the 4th quarter worth approximately $30,000. Roble Belko & Company Inc bought a new position in shares of NetApp during the 1st quarter valued at approximately $31,000. Finally, Torren Management LLC purchased a new stake in NetApp during the 4th quarter valued at $34,000. Institutional investors own 92.17% of the company’s stock.

NetApp Trading Down 2.8%

NASDAQ NTAP opened at $186.86 on Tuesday. The stock has a market cap of $36.67 billion, a PE ratio of 29.38, a PEG ratio of 3.44 and a beta of 1.45. NetApp, Inc. has a 12 month low of $93.69 and a 12 month high of $209.06. The company’s 50-day moving average price is $173.43 and its 200-day moving average price is $135.80. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 1.84.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Thursday, May 28th. The data storage provider reported $2.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.24). The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.87 billion. NetApp had a net margin of 18.43% and a return on equity of 117.23%. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.93 EPS. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. Equities research analysts forecast that NetApp, Inc. will post 7.32 earnings per share for the current year.

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 29th. Stockholders of record on Friday, July 10th were paid a dividend of $0.52 per share. 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 payout ratio is currently 32.70%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Northland Securities lifted their price objective on shares of NetApp from $137.00 to $171.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. JPMorgan Chase & Co. increased their target price on shares of NetApp from $110.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Morgan Stanley upgraded shares of NetApp from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $137.00 to $173.00 in a report on Monday, August 10th. Bank of America lifted their price target on shares of NetApp from $125.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Finally, Argus increased their price objective on shares of NetApp from $130.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Five analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, NetApp currently has a consensus rating of “Hold” and a consensus target price of $179.77.

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 Monday, August 10th. The stock was sold at an average price of $193.82, for a total value of $193,820.00. Following the completion of the sale, the executive vice president owned 30,297 shares in the company, valued at approximately $5,872,164.54. The trade was a 3.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lorenzo Daniel De sold 225 shares of the stock in a transaction that occurred on 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 directly owned 1,090 shares in the company, valued at approximately $186,488.10. This trade represents a 17.11% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 55,297 shares of company stock worth $8,758,016. Company insiders own 0.36% of the company’s stock.

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.