NetApp, Inc. $NTAP Shares Acquired by Panagora Asset Management Inc.

Key Points

• Panagora Asset Management boosted its NetApp stake by 58.3% in Q4, ending with 229,650 shares valued at about $24.6 million.
• NetApp reported Q4 revenue of $1.95 billion, topping estimates, but EPS of $2.03 missed analyst expectations of $2.27. The company also raised its FY 2027 and Q1 2027 guidance.
• The company declared a quarterly dividend of $0.52 per share, payable July 29, and analysts currently have an average Hold rating with a consensus price target of $169.33.

Panagora Asset Management Inc. increased its stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 58.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 229,650 shares of the data storage provider's stock after acquiring an additional 84,552 shares during the quarter. Panagora Asset Management Inc. owned approximately 0.12% of NetApp worth $24,593,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of NTAP. Norges Bank acquired a new stake in NetApp during the fourth quarter valued at $458,060,000. Arrowstreet Capital Limited Partnership lifted its position in shares of NetApp by 94.6% in 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 buying an additional 886,485 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of NetApp by 71.6% in 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 buying an additional 771,835 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of NetApp by 17.1% in 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 buying an additional 718,409 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of NetApp by 83.0% in 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 purchasing an additional 700,467 shares during the period. Institutional investors and hedge funds own 92.17% of the company's stock.

Insiders Place Their Bets

In other NetApp news, EVP Elizabeth M. O'callahan sold 1,000 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $163.48, for a total transaction of $163,480.00. Following the completion of the transaction, the executive vice president owned 32,297 shares in the company, valued at approximately $5,279,913.56. This represents a 3.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Lorenzo Daniel De sold 225 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $171.09, for a total value of $38,495.25. Following the transaction, the chief accounting officer owned 1,090 shares of the company's stock, valued at approximately $186,488.10. This trade represents a 17.11% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 3,500 shares of company stock valued at $448,955. 0.28% of the stock is owned by corporate insiders.

NetApp Stock Up 0.1%

NASDAQ:NTAP opened at $161.82 on Tuesday. The stock's fifty day moving average price is $127.09 and its two-hundred day moving average price is $112.64. NetApp, Inc. has a 52-week low of $93.69 and a 52-week high of $192.83. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.39 and a current ratio of 1.44. The company has a market cap of $31.70 billion, a price-to-earnings ratio of 25.44, a P/E/G ratio of 2.95 and a beta of 1.44.

NetApp (NASDAQ:NTAP - Get Free Report) last posted its quarterly earnings data on Thursday, May 28th. The data storage provider reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.24). The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. NetApp had a return on equity of 117.23% and a net margin of 18.43%.The firm's quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the prior 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. On average, analysts anticipate that NetApp, Inc. will post 7.16 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 given a dividend of $0.52 per share. The ex-dividend date is Friday, July 10th. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. NetApp's payout ratio is presently 32.70%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Susquehanna lifted their price objective on NetApp from $110.00 to $185.00 and gave the stock a "neutral" rating in a research note on Friday, May 29th. The Goldman Sachs Group restated a "buy" rating and set a $200.00 price target on shares of NetApp in a research note on Tuesday, June 2nd. UBS Group restated a "neutral" rating and set a $160.00 price target on shares of NetApp in a research note on Friday, May 29th. Argus boosted their price target on NetApp from $130.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, June 1st. Finally, Morgan Stanley lifted their price objective on NetApp from $88.00 to $137.00 and gave the company an "underweight" rating in a report on Friday, May 29th. Five investment 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 stock currently has an average rating of "Hold" and a consensus target price of $169.33.

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.

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