Brandywine Global Investment Management LLC Has $14.83 Million Position in NetApp, Inc. $NTAP

Brandywine Global Investment Management LLC boosted its stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 6.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 138,480 shares of the data storage provider's stock after buying an additional 8,180 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.07% of NetApp worth $14,830,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rossby Financial LCC lifted its holdings in NetApp by 105.5% during the 3rd quarter. Rossby Financial LCC now owns 224 shares of the data storage provider's stock worth $27,000 after buying an additional 115 shares during the period. Abich Financial Wealth Management LLC bought a new position in shares of NetApp in the 3rd quarter worth about $27,000. Park Square Financial Group LLC raised its position in shares of NetApp by 68.7% in the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider's stock worth $29,000 after acquiring an additional 103 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new position in shares of NetApp in the 3rd quarter worth about $35,000. Finally, JFS Wealth Advisors LLC raised its position in shares of NetApp by 176.3% in the 4th quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider's stock worth $34,000 after acquiring an additional 201 shares in the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other NetApp news, CAO Lorenzo Daniel De sold 225 shares of the business's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $171.09, for a total transaction of $38,495.25. Following the completion of the sale, the chief accounting officer directly owned 1,090 shares of the company's stock, valued at approximately $186,488.10. The trade was a 17.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $117,730.00. Following the sale, the executive vice president directly owned 18,382 shares of the company's stock, valued at $2,164,112.86. This represents a 5.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 2,500 shares of company stock valued at $285,475 over the last three months. Corporate insiders own 0.28% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NTAP shares. Wall Street Zen lowered NetApp from a "buy" rating to a "hold" rating in a research report on Sunday, April 19th. JPMorgan Chase & Co. lifted their price objective on NetApp from $110.00 to $150.00 and gave the stock a "neutral" rating in a research report on Friday, May 29th. Barclays lifted their price objective on NetApp from $120.00 to $199.00 and gave the stock an "overweight" rating in a research report on Friday, May 29th. Argus lifted their price objective on NetApp from $130.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, June 1st. Finally, Susquehanna lifted their price objective 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 assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $169.33.

NetApp Stock Performance

Shares of NetApp stock opened at $170.31 on Tuesday. NetApp, Inc. has a one year low of $93.69 and a one year high of $192.83. The firm has a market capitalization of $33.61 billion, a price-to-earnings ratio of 26.78, a PEG ratio of 3.06 and a beta of 1.44. The business has a 50-day simple moving average of $121.12 and a 200 day simple moving average of $110.73. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.44 and a quick ratio of 1.39.

NetApp (NASDAQ:NTAP - Get Free Report) last issued its 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 net margin of 18.43% and a return on equity of 117.23%. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the previous year, the firm 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. On average, research analysts anticipate that NetApp, Inc. will post 7.14 earnings per share for the current fiscal year.

NetApp Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, July 10th. NetApp's payout ratio is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.