NetApp, Inc. $NTAP Shares Purchased by Los Angeles Capital Management LLC

Key Points

• Los Angeles Capital Management nearly doubled its NetApp stake in the fourth quarter, boosting its holdings by 93.9% to 36,456 shares worth about $4.21 million.
• NetApp beat revenue expectations in its latest quarter, posting $1.95 billion in sales, but missed EPS estimates with earnings of $2.03 per share versus the $2.27 consensus.
• The company also announced a quarterly dividend of $0.52 per share, payable July 29, while analysts currently rate the stock a Hold with an average price target of $169.33.

Los Angeles Capital Management LLC increased its position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 93.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,456 shares of the data storage provider's stock after purchasing an additional 17,657 shares during the quarter. Los Angeles Capital Management LLC's holdings in NetApp were worth $4,213,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rossby Financial LCC lifted its holdings in NetApp by 105.5% in the third quarter. Rossby Financial LCC now owns 224 shares of the data storage provider's stock valued at $27,000 after acquiring an additional 115 shares during the period. Abich Financial Wealth Management LLC acquired a new position in NetApp in the third quarter valued at approximately $27,000. Park Square Financial Group LLC lifted its holdings in NetApp by 68.7% in the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider's stock valued at $29,000 after acquiring an additional 103 shares during the period. Measured Wealth Private Client Group LLC acquired a new position in NetApp in the third quarter valued at approximately $35,000. Finally, JFS Wealth Advisors LLC lifted its holdings in NetApp by 176.3% in the fourth quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider's stock valued at $34,000 after acquiring an additional 201 shares during the period. Institutional investors and hedge funds own 92.17% of the company's stock.

NetApp Stock Up 2.0%

NASDAQ NTAP opened at $170.31 on Tuesday. The business has a fifty day moving average price of $121.12 and a 200 day moving average price of $110.73. NetApp, Inc. has a one year low of $93.69 and a one year 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 $33.61 billion, a P/E ratio of 26.78, a P/E/G ratio of 3.06 and a beta of 1.44.

NetApp (NASDAQ:NTAP - Get Free Report) last issued its earnings results 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 company had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.87 billion. NetApp had a net margin of 18.43% and a return on equity of 117.23%. 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 company earned $1.93 earnings per share. 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 anticipate that NetApp, Inc. will post 7.14 EPS for the current fiscal year.

NetApp Dividend Announcement

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 issued a dividend of $0.52 per share. The ex-dividend date is Friday, July 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. NetApp's dividend payout ratio is currently 32.70%.

Analysts Set New Price Targets

A number of brokerages have issued reports on NTAP. UBS Group reissued a "neutral" rating and issued a $160.00 price target on shares of NetApp in a report on Friday, May 29th. 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, May 29th. Wedbush boosted their price target on NetApp from $115.00 to $150.00 and gave the company a "neutral" rating in a report on Friday, May 29th. Wall Street Zen downgraded NetApp from a "buy" rating to a "hold" rating in a research note on Sunday, April 19th. Finally, Wells Fargo & Company upped their target price on NetApp from $115.00 to $180.00 and gave the stock an "equal weight" rating in a research note on Friday, May 29th. Four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $169.33.

Insiders Place Their Bets

In related news, EVP Elizabeth M. O'callahan sold 1,000 shares of the firm's 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 completion of the transaction, the executive vice president directly owned 18,382 shares in the company, valued at $2,164,112.86. This trade represents a 5.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Lorenzo Daniel De sold 275 shares of the firm's stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $120.00, for a total value of $33,000.00. Following the transaction, the chief accounting officer owned 1,090 shares of the company's stock, valued at $130,800. This trade represents a 20.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 2,500 shares of company stock valued at $285,475. Company insiders own 0.28% of the company's stock.

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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