Intech Investment Management LLC Purchases 10,035 Shares of NetApp, Inc. $NTAP

Intech Investment Management LLC increased its position in NetApp, Inc. (NASDAQ:NTAP) by 16.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 70,621 shares of the data storage provider’s stock after acquiring an additional 10,035 shares during the period. Intech Investment Management LLC’s holdings in NetApp were worth $7,563,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Jefferies Financial Group Inc. bought a new stake in shares of NetApp in the fourth quarter worth $14,869,000. Envestnet Asset Management Inc. grew its holdings in shares of NetApp by 4.9% in the third quarter. Envestnet Asset Management Inc. now owns 432,772 shares of the data storage provider’s stock worth $51,266,000 after acquiring an additional 20,089 shares during the period. Citigroup Inc. grew its holdings in shares of NetApp by 216.1% in the third quarter. Citigroup Inc. now owns 927,525 shares of the data storage provider’s stock worth $109,875,000 after acquiring an additional 634,085 shares during the period. National Pension Service grew its holdings in shares of NetApp by 26.0% in the third quarter. National Pension Service now owns 159,274 shares of the data storage provider’s stock worth $18,868,000 after acquiring an additional 32,833 shares during the period. Finally, Handelsbanken Fonder AB grew its holdings in shares of NetApp by 106.8% in the fourth quarter. Handelsbanken Fonder AB now owns 262,732 shares of the data storage provider’s stock worth $28,136,000 after acquiring an additional 135,715 shares during the period. Institutional investors own 92.17% of the company’s stock.

Key Headlines Impacting NetApp

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: NetApp reported fiscal Q4 revenue of $1.95 billion, topping estimates and rising 12.5% year over year, while non-GAAP EPS came in at $2.43, also above expectations. NetApp Q4 Earnings and Revenues Top Estimates
• Positive Sentiment: Management issued FY2027 guidance above Wall Street estimates, pointing to revenue of about $7.3 billion-$7.6 billion and EPS of $8.70-$9.00, which supports optimism for continued growth and margin expansion. Why NetApp Stock Soared 35% Friday Morning
• Positive Sentiment: Analysts sharply lifted price targets after the report, including JPMorgan, Bank of America, Citigroup, Wedbush, Susquehanna, Northland, and Wells Fargo, signaling that the earnings beat may lead to higher estimates even if several firms kept neutral or hold-type ratings. Analyst price target updates
• Positive Sentiment: NetApp also announced a quarterly dividend and a new $1 billion share repurchase program, adding to shareholder returns and potentially supporting the stock. NetApp Announces New $1 Billion Share Repurchase Program

Insider Activity

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $117.73, for a total value of $117,730.00. Following the transaction, the executive vice president directly owned 18,382 shares in the company, valued at $2,164,112.86. The trade was a 5.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Lorenzo Daniel De sold 275 shares of the business’s stock in a transaction dated 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 in the company, valued at $130,800. The trade was a 20.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,275 shares of company stock worth $347,650 over the last 90 days. Company insiders own 0.28% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on NetApp from $110.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday. Susquehanna boosted their price target on NetApp from $110.00 to $185.00 and gave the company a “neutral” rating in a report on Friday. Morgan Stanley boosted their price target on NetApp from $88.00 to $137.00 and gave the company an “underweight” rating in a report on Friday. Weiss Ratings lowered NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 13th. Finally, Northland Securities boosted their price target on NetApp from $137.00 to $171.00 and gave the company an “outperform” rating in a report on Friday. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $157.50.

NetApp Stock Performance

NASDAQ:NTAP opened at $174.29 on Friday. The stock has a 50-day simple moving average of $112.46 and a two-hundred day simple moving average of $107.95. NetApp, Inc. has a 52-week low of $93.69 and a 52-week high of $192.83. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.36 and a current ratio of 1.39. The firm has a market capitalization of $34.39 billion, a PE ratio of 27.40, a P/E/G ratio of 3.18 and a beta of 1.28.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data 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 126.01%. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the previous year, the firm earned $1.93 earnings per share. NetApp’s 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. Analysts forecast that NetApp, Inc. will post 7.14 EPS for the current year.

NetApp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Friday, July 10th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, July 10th. NetApp’s payout ratio is presently 32.70%.

NetApp Company 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.