Pacer Advisors Inc. Has $186.11 Million Position in NetApp, Inc. $NTAP

Key Points

• Pacer Advisors increased its NetApp stake by 11.9% in the first quarter, acquiring 193,365 additional shares and bringing its holdings to 1.82 million shares valued at approximately $186.1 million. Institutional investors collectively own 92.17% of NetApp.
• NetApp’s latest quarterly results showed revenue rising 12.5% year over year to $1.95 billion, exceeding estimates, while EPS of $2.03 missed consensus by $0.24. The company issued fiscal 2027 EPS guidance of $8.70–$9.00 and pays a quarterly dividend of $0.52, yielding about 1.2% annually.
• NetApp shares opened at $178.50, near the upper end of their 52-week range, while analysts remain broadly cautious: five rate the stock Buy, nine Hold and one Sell, producing a consensus rating of Hold and an average price target of $169.33.

Pacer Advisors Inc. raised its holdings in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 11.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,817,634 shares of the data storage provider's stock after acquiring an additional 193,365 shares during the quarter. Pacer Advisors Inc. owned about 0.93% of NetApp worth $186,108,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in NTAP. Norges Bank acquired a new stake in shares of NetApp during the fourth quarter worth $458,060,000. First Trust Advisors LP lifted its stake in NetApp by 127.0% in the first quarter. First Trust Advisors LP now owns 3,658,066 shares of the data storage provider's stock valued at $374,549,000 after buying an additional 2,046,912 shares during the period. SG Americas Securities LLC lifted its stake in NetApp by 378.9% in the first quarter. SG Americas Securities LLC now owns 1,329,475 shares of the data storage provider's stock valued at $136,125,000 after buying an additional 1,051,863 shares during the period. Arrowstreet Capital Limited Partnership boosted 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 buying an additional 886,485 shares during the last quarter. Finally, SEB Asset Management AB bought a new position in NetApp during the first quarter worth about $89,977,000. Institutional investors own 92.17% of the company's stock.

Insider Transactions at NetApp

In other NetApp news, President Cesar Cernuda sold 49,464 shares of NetApp stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $154.82, for a total value of $7,658,016.48. Following the sale, the president directly owned 46,806 shares in the company, valued at approximately $7,246,504.92. The trade was a 51.38% decrease in their position. The sale was disclosed in a filing 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 transaction 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 represents a 17.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 52,964 shares of company stock valued at $8,181,642 over the last 90 days. 0.36% of the stock is owned by corporate insiders.

NetApp Price Performance

NTAP stock opened at $178.50 on Monday. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.44 and a quick ratio of 1.39. The stock has a market capitalization of $35.03 billion, a P/E ratio of 28.07, a P/E/G ratio of 3.26 and a beta of 1.45. NetApp, Inc. has a fifty-two week low of $93.69 and a fifty-two week high of $192.83. The business has a 50-day moving average of $162.88 and a 200-day moving average of $125.07.

NetApp (NASDAQ:NTAP - Get Free Report) last announced its earnings results 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 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%. 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 business 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, sell-side analysts anticipate that NetApp, Inc. will post 7.16 earnings per share for the current fiscal year.

NetApp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 29th. Stockholders of record on Friday, July 10th were issued a $0.52 dividend. The ex-dividend date was 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 (DPR) is 32.70%.

Analyst Upgrades and Downgrades

NTAP has been the subject of a number of recent analyst reports. Wall Street Zen cut NetApp from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, July 29th. Weiss Ratings raised shares of NetApp from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, June 8th. Barclays boosted their price objective on shares of NetApp from $120.00 to $199.00 and gave the company an "overweight" rating in a report on Friday, May 29th. Wedbush increased their target price on shares of NetApp from $115.00 to $150.00 and gave the stock a "neutral" rating in a report on Friday, May 29th. Finally, Argus lifted their price target on shares of NetApp from $130.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, June 1st. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $169.33.

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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