National Pension Service Has $19.37 Million Stock Position in NetApp, Inc. $NTAP

Key Points

• National Pension Service increased its NetApp stake by 13.6% in the fourth quarter, ending with 180,917 shares valued at about $19.37 million.
• Several other institutional investors also boosted their holdings, and 92.17% of NetApp’s stock is now owned by institutions and hedge funds.
• NetApp recently reported fiscal Q4 revenue of $1.95 billion, beating estimates and rising 12.5% year over year, while analysts sharply lifted price targets and the company announced a quarterly dividend of $0.52 per share.

National Pension Service increased its stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 13.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 180,917 shares of the data storage provider's stock after purchasing an additional 21,643 shares during the period. National Pension Service owned approximately 0.09% of NetApp worth $19,374,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in NTAP. Arrowstreet Capital Limited Partnership lifted its holdings in NetApp by 94.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,823,292 shares of the data storage provider's stock worth $215,987,000 after acquiring an additional 886,485 shares in the last quarter. AQR Capital Management LLC lifted its holdings in NetApp by 71.6% during the third quarter. AQR Capital Management LLC now owns 1,849,218 shares of the data storage provider's stock worth $219,058,000 after acquiring an additional 771,835 shares in the last quarter. Wellington Management Group LLP lifted its holdings in NetApp by 17.1% during the third quarter. Wellington Management Group LLP now owns 4,915,553 shares of the data storage provider's stock worth $582,296,000 after acquiring an additional 718,409 shares in the last quarter. Bank of America Corp DE lifted its holdings in NetApp by 83.0% during the second quarter. Bank of America Corp DE now owns 1,544,513 shares of the data storage provider's stock worth $164,568,000 after acquiring an additional 700,467 shares in the last quarter. Finally, Citigroup Inc. lifted its holdings in NetApp by 216.1% during the third quarter. Citigroup Inc. now owns 927,525 shares of the data storage provider's stock worth $109,875,000 after acquiring an additional 634,085 shares in the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NetApp

In other news, CAO Lorenzo Daniel De sold 275 shares of the 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 directly owned 1,090 shares in the company, valued at approximately $130,800. This represents a 20.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Elizabeth M. O'callahan sold 1,000 shares of the stock in a transaction on Monday, May 11th. The shares were 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. The trade was a 5.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,275 shares of company stock valued at $347,650 over the last 90 days. Corporate insiders own 0.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on NTAP shares. Bank of America boosted their price target on NetApp from $125.00 to $150.00 and gave the company a "neutral" rating in a report on Friday. Morgan Stanley boosted their price target on NetApp from $88.00 to $137.00 and gave the company an "underweight" rating in a report on Friday. Wells Fargo & Company boosted their price target on NetApp from $115.00 to $180.00 and gave the company an "equal weight" rating in a report on Friday. JPMorgan Chase & Co. boosted their price target on NetApp from $110.00 to $150.00 and gave the company a "neutral" rating in a report on Friday. Finally, Northland Securities boosted their price target on NetApp from $137.00 to $171.00 and gave the company an "outperform" rating in a report on Friday. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, NetApp presently has an average rating of "Hold" and an average target price of $157.50.

NetApp Price Performance

NetApp stock opened at $174.29 on Monday. NetApp, Inc. has a 12 month low of $93.69 and a 12 month high of $192.83. The stock's 50 day moving average is $112.46 and its 200-day moving average is $107.92. 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 company 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 1.44.

NetApp (NASDAQ:NTAP - Get Free Report) last posted its earnings results 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). The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.87 billion. NetApp had a net margin of 18.43% and a return on equity of 117.23%. NetApp's revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the previous year, the company 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. Equities research analysts expect that NetApp, Inc. will post 7.14 EPS for the current year.

NetApp Dividend Announcement

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 is Friday, July 10th. This represents a $2.08 annualized dividend and a yield of 1.2%. NetApp's dividend payout ratio is presently 32.70%.

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

About NetApp

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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