Rockefeller Capital Management L.P. Purchases 19,113 Shares of NetApp, Inc. $NTAP

Rockefeller Capital Management L.P. lifted its position in NetApp, Inc. (NASDAQ:NTAP) by 87.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,967 shares of the data storage provider’s stock after buying an additional 19,113 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in NetApp were worth $4,387,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Geneos Wealth Management Inc. grew its stake in NetApp by 38.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider’s stock valued at $67,000 after buying an additional 210 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in NetApp during the 2nd quarter worth $315,000. Cerity Partners LLC boosted its holdings in NetApp by 9.9% during the second quarter. Cerity Partners LLC now owns 46,792 shares of the data storage provider’s stock valued at $4,986,000 after acquiring an additional 4,232 shares during the period. Bank of Nova Scotia boosted its holdings in NetApp by 7.3% during the second quarter. Bank of Nova Scotia now owns 24,301 shares of the data storage provider’s stock valued at $2,589,000 after acquiring an additional 1,662 shares during the period. Finally, NewEdge Advisors LLC grew its position in shares of NetApp by 12.7% in the second quarter. NewEdge Advisors LLC now owns 20,161 shares of the data storage provider’s stock valued at $2,148,000 after purchasing an additional 2,277 shares during the last quarter. 92.17% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, President Cesar Cernuda sold 49,464 shares of the stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $154.82, for a total value of $7,658,016.48. Following the completion of the transaction, the president owned 46,806 shares in the company, valued at approximately $7,246,504.92. This represents a 51.38% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Lorenzo Daniel De sold 275 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $120.00, for a total transaction of $33,000.00. Following the transaction, the chief accounting officer directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 52,964 shares of company stock valued at $8,106,972 over the last ninety days. 0.28% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. UBS Group reiterated a “neutral” rating and issued a $160.00 price objective on shares of NetApp in a research note on Friday, May 29th. Barclays increased their target price on NetApp from $120.00 to $199.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. Wells Fargo & Company lifted their price target on NetApp from $115.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Friday, May 29th. Wedbush upped their price target on NetApp from $115.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Finally, Bank of America increased their price objective on NetApp from $125.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Five investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $169.33.

NetApp Stock Down 1.4%

NASDAQ NTAP opened at $152.45 on Friday. NetApp, Inc. has a twelve month low of $93.69 and a twelve month high of $192.83. The stock has a market cap of $29.87 billion, a PE ratio of 23.97, a PEG ratio of 2.79 and a beta of 1.45. The firm has a 50-day simple moving average of $137.56 and a 200 day simple moving average of $115.41. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.39 and a current ratio of 1.44.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results 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 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 revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $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, research analysts forecast that NetApp, Inc. will post 7.16 EPS for the current year.

NetApp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 29th. Investors of record on Friday, July 10th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, July 10th. NetApp’s dividend payout ratio is presently 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.