Eurizon Capital SGR S.p.A. Invests $43.18 Million in NetApp, Inc. $NTAP

Key Points

• Eurizon Capital SGR disclosed a new stake in NetApp, buying 403,102 shares valued at about $43.18 million, or roughly 0.20% of the company.
• NetApp reported mixed quarterly results, with revenue of $1.95 billion topping estimates and rising 12.5% year over year, while EPS of $2.03 missed consensus. The company also raised forward guidance for FY2027.
• Analysts broadly lifted price targets after the earnings update, with several firms keeping neutral ratings but setting targets as high as $171; NetApp also announced a quarterly dividend of $0.52 per share and a new $1 billion buyback program.

Eurizon Capital SGR S.p.A. 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 13F filing with the Securities & Exchange Commission. The firm acquired 403,102 shares of the data storage provider's stock, valued at approximately $43,175,000. Eurizon Capital SGR S.p.A. owned about 0.20% of NetApp as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Hillsdale Investment Management Inc. acquired a new stake in shares of NetApp during the fourth quarter worth $910,000. National Pension Service boosted its holdings in shares of NetApp by 13.6% during the fourth 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 during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in shares of NetApp during the fourth quarter worth $13,271,000. Intech Investment Management LLC boosted its holdings in shares of NetApp by 16.6% during the fourth quarter. Intech Investment Management LLC now owns 70,621 shares of the data storage provider's stock worth $7,563,000 after purchasing an additional 10,035 shares during the last quarter. Finally, Baker Avenue Asset Management LP boosted its holdings in shares of NetApp by 14.2% during the fourth quarter. Baker Avenue Asset Management LP now owns 2,409 shares of the data storage provider's stock worth $258,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds 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 NetApp stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $117.73, for a total transaction of $117,730.00. Following the sale, the executive vice president directly owned 18,382 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Lorenzo Daniel De sold 275 shares of NetApp stock in a transaction dated 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 directly owned 1,090 shares in the company, valued at approximately $130,800. The trade was a 20.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 3,275 shares of company stock worth $347,650. Corporate insiders own 0.28% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NTAP. Citigroup increased their target price on NetApp from $114.00 to $150.00 and gave the stock a "neutral" rating in a research report on Friday. 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. JPMorgan Chase & Co. increased their target price on NetApp from $110.00 to $150.00 and gave the stock a "neutral" rating in a research report on Friday. 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. Finally, Wall Street Zen lowered NetApp from a "buy" rating to a "hold" rating in a research report on Sunday, April 19th. Four investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, NetApp currently has an average rating of "Hold" and an average target price of $157.50.

NetApp Trading Up 22.4%

NASDAQ:NTAP opened at $174.29 on Friday. The business's 50-day moving average is $112.46 and its two-hundred day moving average is $107.95. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.39 and a quick ratio of 1.36. NetApp, Inc. has a 12 month low of $93.69 and a 12 month high of $192.83. The firm has a market capitalization of $34.39 billion, a PE ratio of 27.40, a price-to-earnings-growth ratio of 3.18 and a beta of 1.28.

NetApp (NASDAQ:NTAP - Get Free Report) last released 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 net margin of 18.43% and a return on equity of 126.01%. The company had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.87 billion. During the same period last year, the business earned $1.93 earnings per share. The company's revenue for the quarter was up 12.5% compared to the same quarter last year. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. Research analysts predict that NetApp, Inc. will post 7.14 earnings per share for the current fiscal year.

NetApp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Friday, July 10th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, July 10th. NetApp's payout ratio is presently 32.70%.

Key Headlines Impacting NetApp

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: NetApp reported fiscal Q4 revenue of $1.95 billion, topping estimates and rising 12.5% year over year, while non-GAAP EPS came in at $2.43, also above expectations. NetApp Q4 Earnings and Revenues Top Estimates
• Positive Sentiment: Management issued FY2027 guidance above Wall Street estimates, pointing to revenue of about $7.3 billion-$7.6 billion and EPS of $8.70-$9.00, which supports optimism for continued growth and margin expansion. Why NetApp Stock Soared 35% Friday Morning
• Positive Sentiment: Analysts sharply lifted price targets after the report, including JPMorgan, Bank of America, Citigroup, Wedbush, Susquehanna, Northland, and Wells Fargo, signaling that the earnings beat may lead to higher estimates even if several firms kept neutral or hold-type ratings. Analyst price target updates
• Positive Sentiment: NetApp also announced a quarterly dividend and a new $1 billion share repurchase program, adding to shareholder returns and potentially supporting the stock. NetApp Announces New $1 Billion Share Repurchase Program

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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