Intech Investment Management LLC Acquires 10,035 Shares of NetApp, Inc. $NTAP

Key Points

• Intech Investment Management increased its NetApp position by 16.6% in the fourth quarter, buying 10,035 additional shares and bringing its total holding to 70,621 shares worth about $7.56 million.
• NetApp’s latest quarter showed a revenue beat at $1.95 billion, up 12.5% year over year, though EPS of $2.03 missed analyst expectations. The company also issued FY2027 guidance above Wall Street estimates and announced a quarterly dividend plus a new $1 billion share repurchase program.
• Insider selling has been notable, with recent sales by CAO Lorenzo Daniel De and EVP Elizabeth M. O'callahan; insiders sold 3,275 shares worth $347,650 over the last 90 days. Meanwhile, analysts on average rate NTAP a Hold with a consensus target price of $157.50.

Intech Investment Management LLC raised its position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 16.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 70,621 shares of the data storage provider's stock after acquiring an additional 10,035 shares during the quarter. Intech Investment Management LLC's holdings in NetApp were worth $7,563,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of NTAP. Geneos Wealth Management Inc. lifted its stake in shares of NetApp by 38.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider's stock valued at $67,000 after purchasing an additional 210 shares during the period. Sivia Capital Partners LLC purchased a new position in shares of NetApp in the 2nd quarter valued at approximately $315,000. Cerity Partners LLC lifted its stake in shares of NetApp by 9.9% in the 2nd quarter. Cerity Partners LLC now owns 46,792 shares of the data storage provider's stock valued at $4,986,000 after purchasing an additional 4,232 shares during the period. Bank of Nova Scotia lifted its stake in shares of NetApp by 7.3% in the 2nd quarter. Bank of Nova Scotia now owns 24,301 shares of the data storage provider's stock valued at $2,589,000 after purchasing an additional 1,662 shares during the period. Finally, NewEdge Advisors LLC lifted its stake in shares of NetApp by 12.7% in the 2nd quarter. NewEdge Advisors LLC now owns 20,161 shares of the data storage provider's stock valued at $2,148,000 after purchasing an additional 2,277 shares during the period. 92.17% of the stock is owned by institutional investors.

Insider Buying and Selling at NetApp

In other news, CAO Lorenzo Daniel De sold 275 shares of the business's stock in a transaction 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 completion of the transaction, the chief accounting officer owned 1,090 shares in the company, valued at $130,800. The trade was a 20.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Elizabeth M. O'callahan sold 1,000 shares of the business's stock in a transaction 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 completion of the transaction, the executive vice president owned 18,382 shares of the company's stock, valued at $2,164,112.86. This represents a 5.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 3,275 shares of company stock valued at $347,650 in the last 90 days. Company insiders own 0.28% of the company's stock.

NetApp News Roundup

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 Stock Up 22.4%

Shares of NASDAQ:NTAP opened at $174.29 on Friday. The stock has a fifty day simple moving average of $112.46 and a two-hundred day simple moving average of $107.95. The stock has a market capitalization of $34.39 billion, a price-to-earnings ratio of 27.40, a PEG ratio of 3.18 and a beta of 1.28. NetApp, Inc. has a 12-month low of $93.69 and a 12-month high of $192.83. The company has a current ratio of 1.39, a quick ratio of 1.36 and a debt-to-equity ratio of 2.15.

NetApp (NASDAQ:NTAP - Get Free Report) last announced its quarterly earnings data on Thursday, May 28th. The data storage provider reported $2.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.27 by ($0.24). The company 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 126.01%. The firm's quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $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. On average, research analysts anticipate that NetApp, Inc. will post 7.14 earnings per share for the current fiscal year.

NetApp Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on NTAP shares. Weiss Ratings cut NetApp from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, March 13th. Wedbush raised their target price on NetApp from $115.00 to $150.00 and gave the company a "neutral" rating in a research note on Friday. Wells Fargo & Company lifted their price objective on NetApp from $115.00 to $180.00 and gave the company an "equal weight" rating in a research note on Friday. Morgan Stanley lifted their price objective on NetApp from $88.00 to $137.00 and gave the company an "underweight" rating in a research note on Friday. Finally, Bank of America lifted their price objective on NetApp from $125.00 to $150.00 and gave the company a "neutral" rating in a research note on Friday. 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's stock. According to MarketBeat.com, NetApp currently has an average rating of "Hold" and an average target price of $157.50.

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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