Savant Capital LLC Trims Stock Holdings in NetApp, Inc. $NTAP

Savant Capital LLC decreased its stake in NetApp, Inc. (NASDAQ:NTAP) by 72.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,794 shares of the data storage provider’s stock after selling 10,140 shares during the quarter. Savant Capital LLC’s holdings in NetApp were worth $406,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Wellington Management Group LLP increased its position in NetApp by 17.1% in 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 in the last quarter. Boston Partners increased its position in NetApp by 12.6% in 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 in the last quarter. Northern Trust Corp increased its position in NetApp by 1.0% in 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 in the last quarter. Dimensional Fund Advisors LP increased its position in NetApp by 0.6% in 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 in the last quarter. Finally, AQR Capital Management LLC grew its position in shares of NetApp by 71.6% during the third 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 in the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Wedbush increased their target price on NetApp from $115.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Northland Securities increased their target price on NetApp from $137.00 to $171.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. Argus increased their target price on NetApp from $130.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Bank of America increased their target price on NetApp from $125.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Finally, Susquehanna increased their target price on NetApp from $110.00 to $185.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Four investment 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $169.33.

NetApp Stock Performance

NASDAQ:NTAP opened at $167.04 on Friday. The stock has a market capitalization of $32.96 billion, a P/E ratio of 26.26, a P/E/G ratio of 3.28 and a beta of 1.45. The stock has a 50-day moving average price of $119.80 and a 200 day moving average price of $110.25. 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, Inc. has a 12-month low of $93.69 and a 12-month high of $192.83.

NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share 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 analysts’ expectations of $1.87 billion. NetApp had a net margin of 18.43% and a return on equity of 117.23%. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior 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 7.14 EPS for the current fiscal year.

NetApp Announces Dividend

The company 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. This represents a $2.08 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, July 10th. NetApp’s dividend payout ratio (DPR) is currently 32.70%.

Insider Activity at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $117.73, for a total transaction of $117,730.00. Following the completion of the transaction, the executive vice president owned 18,382 shares in the company, valued at $2,164,112.86. This trade represents a 5.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Lorenzo Daniel De sold 275 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief accounting officer owned 1,090 shares of the company’s stock, valued at $130,800. This represents a 20.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,500 shares of company stock valued at $386,145 in the last 90 days. 0.28% of the stock is currently owned by company insiders.

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.