Boston Partners Cuts Position in NetApp, Inc. $NTAP

Key Points

• Boston Partners trimmed its NetApp stake slightly in the fourth quarter, selling 8,472 shares and ending with 3.31 million shares valued at about $354.4 million. Even after the sale, the fund still owned roughly 1.67% of NetApp.
• NetApp reported mixed quarterly results: EPS of $2.03 missed estimates, but revenue of $1.95 billion beat expectations and rose 12.5% year over year. The company also issued FY2027 and Q1 2027 guidance, while analysts currently have a consensus Hold rating with an average price target of $169.33.
• NetApp announced a quarterly dividend of $0.52 per share, payable on July 29, for an annualized payout of $2.08 and a yield of 1.3%. Insider selling was also reported, with executives selling 3,500 shares over the last 90 days.

Boston Partners lessened its holdings in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 0.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,309,133 shares of the data storage provider's stock after selling 8,472 shares during the period. Boston Partners owned approximately 1.67% of NetApp worth $354,377,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NTAP. Abich Financial Wealth Management LLC purchased a new position in NetApp in the third quarter valued at approximately $27,000. Rossby Financial LCC lifted its stake in NetApp by 105.5% in the third quarter. Rossby Financial LCC now owns 224 shares of the data storage provider's stock valued at $27,000 after purchasing an additional 115 shares during the last quarter. Park Square Financial Group LLC lifted its stake in NetApp by 68.7% in the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider's stock valued at $29,000 after purchasing an additional 103 shares during the last quarter. JFS Wealth Advisors LLC lifted its stake in NetApp by 176.3% in the fourth quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider's stock valued at $34,000 after purchasing an additional 201 shares during the last quarter. Finally, Torren Management LLC purchased a new position in NetApp in the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 92.17% of the company's stock.

NetApp Stock Performance

NetApp stock opened at $161.61 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 1.84. The firm has a 50-day moving average of $125.92 and a 200-day moving average of $112.27. The firm has a market cap of $31.66 billion, a P/E ratio of 25.41, a P/E/G ratio of 2.93 and a beta of 1.45. NetApp, Inc. has a 1-year low of $93.69 and a 1-year high of $192.83.

NetApp (NASDAQ:NTAP - Get Free Report) last issued 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 return on equity of 117.23% and a net margin of 18.43%.The company had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.87 billion. During the same quarter last year, the business earned $1.93 earnings per share. The business's quarterly 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. Sell-side analysts expect that NetApp, Inc. will post 7.16 EPS for the current year.

NetApp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.3%. NetApp's dividend payout ratio (DPR) is currently 32.70%.

Insider Buying and Selling

In related 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 shares were 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 of the company's stock, valued at $2,164,112.86. This trade represents 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 the SEC website. 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 transaction of $33,000.00. Following the sale, the chief accounting officer directly owned 1,090 shares of the company's stock, valued at $130,800. This trade represents a 20.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,500 shares of company stock valued at $448,955 in the last ninety days. Insiders own 0.28% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Wedbush upped their price objective on NetApp from $115.00 to $150.00 and gave the company a "neutral" rating in a research note on Friday, May 29th. Susquehanna boosted their target price on shares of NetApp from $110.00 to $185.00 and gave the company a "neutral" rating in a report on Friday, May 29th. Citigroup boosted their target price on shares of NetApp from $114.00 to $150.00 and gave the company a "neutral" rating in a report on Friday, May 29th. Argus upped their price target on shares of NetApp from $130.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, June 1st. Finally, Wall Street Zen raised shares of NetApp from a "hold" rating to a "strong-buy" rating in a report on Saturday. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $169.33.

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.

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