12,500 Shares in NetApp, Inc. $NTAP Bought by Union Square Park Capital Management LLC

Key Points

• Union Square Park Capital Management opened a new position in NetApp, buying 12,500 shares valued at about $1.34 million in the fourth quarter.
• Institutional interest in NetApp remains strong, with several large investors increasing holdings; the article notes that institutional investors own 92.17% of the company.
• NetApp posted mixed quarterly results, with EPS missing estimates but revenue beating expectations; the company also announced a quarterly dividend of $0.52 per share.

Union Square Park Capital Management LLC acquired a new position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 12,500 shares of the data storage provider's stock, valued at approximately $1,339,000.

Other large investors have also recently added to or reduced their stakes in the company. Handelsbanken Fonder AB increased its holdings in NetApp by 106.8% during the 4th quarter. Handelsbanken Fonder AB now owns 262,732 shares of the data storage provider's stock worth $28,136,000 after purchasing an additional 135,715 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in NetApp during the 4th quarter worth about $14,869,000. Norges Bank bought a new position in NetApp during the 4th quarter worth about $458,060,000. National Pension Service increased its holdings in NetApp by 13.6% during the 4th quarter. National Pension Service now owns 180,917 shares of the data storage provider's stock worth $19,374,000 after purchasing an additional 21,643 shares in the last quarter. Finally, Citigroup Inc. increased its holdings in NetApp by 216.1% during the 3rd quarter. Citigroup Inc. now owns 927,525 shares of the data storage provider's stock worth $109,875,000 after purchasing an additional 634,085 shares in the last quarter. Institutional investors own 92.17% of the company's stock.

Insider Transactions at NetApp

In other news, EVP Elizabeth M. O'callahan sold 1,000 shares of the business'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 sale, the executive vice president 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 SEC, which is available at this hyperlink. Also, CAO Lorenzo Daniel De sold 275 shares of the business's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $120.00, for a total value of $33,000.00. Following the sale, the chief accounting officer owned 1,090 shares of the company's stock, valued at approximately $130,800. This represents a 20.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,500 shares of company stock valued at $448,955 in the last quarter. 0.28% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on NTAP shares. Weiss Ratings upgraded NetApp from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, June 8th. Wells Fargo & Company raised their price objective on NetApp from $115.00 to $180.00 and gave the company an "equal weight" rating in a report on Friday, May 29th. Susquehanna raised their price objective on NetApp from $110.00 to $185.00 and gave the company a "neutral" rating in a report on Friday, May 29th. JPMorgan Chase & Co. raised their price objective on NetApp from $110.00 to $150.00 and gave the company a "neutral" rating in a report on Friday, May 29th. Finally, Wall Street Zen upgraded NetApp from a "hold" rating to a "strong-buy" rating in a report on Saturday. Five equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, NetApp has a consensus rating of "Hold" and a consensus price target of $169.33.

NetApp Trading Down 0.3%

NetApp stock opened at $161.26 on Wednesday. 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 1.84, a quick ratio of 1.39 and a current ratio of 1.44. The stock has a market capitalization of $31.59 billion, a P/E ratio of 25.36, a PEG ratio of 2.96 and a beta of 1.44. The stock has a 50-day simple moving average of $128.24 and a 200 day simple moving average of $113.01.

NetApp (NASDAQ:NTAP - Get Free Report) last posted its quarterly earnings results on Thursday, May 28th. The data storage provider reported $2.03 EPS for the quarter, missing analysts' consensus estimates of $2.27 by ($0.24). NetApp had a return on equity of 117.23% and a net margin of 18.43%.The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the business posted $1.93 EPS. The company's revenue for the quarter 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 expect that NetApp, Inc. will post 7.16 earnings per share for the current year.

NetApp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Investors 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 dividend on an annualized basis and a yield of 1.3%. NetApp's dividend payout ratio (DPR) 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.

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