Robeco Institutional Asset Management B.V. Acquires 195,289 Shares of NetApp, Inc. $NTAP

Key Points

• Robeco Institutional Asset Management increased its NetApp stake by 19.8% in the third quarter, acquiring 195,289 shares and bringing its holdings to 1.18 million shares valued at approximately $247.8 million. Institutional investors collectively own 92.17% of NetApp.
• NetApp reported quarterly earnings of $2.58 per share, exceeding the $2.12 consensus estimate, while revenue rose 29.9% year over year to $2.02 billion. The company issued annualized dividends of $2.08 per share, representing a 1.0% yield.
• Analyst sentiment remains positive but mixed, with NetApp holding a consensus “Moderate Buy” rating and an average price target of $213.20. Meanwhile, insiders sold 173,524 shares worth approximately $35.0 million over the past three months.

Robeco Institutional Asset Management B.V. raised its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 19.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,179,651 shares of the data storage provider's stock after acquiring an additional 195,289 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.60% of NetApp worth $247,821,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of NTAP. Diversify Advisory Services LLC lifted its holdings in NetApp by 126.4% during the 3rd quarter. Diversify Advisory Services LLC now owns 7,959 shares of the data storage provider's stock worth $1,709,000 after purchasing an additional 4,444 shares in the last quarter. Cypress Capital LLC grew its holdings in NetApp by 1.9% during the 3rd quarter. Cypress Capital LLC now owns 14,811 shares of the data storage provider's stock valued at $3,111,000 after buying an additional 273 shares in the last quarter. Parkway Wealth Management Group LLC purchased a new position in NetApp during the 3rd quarter valued at about $4,107,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of NetApp by 3.4% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 39,837 shares of the data storage provider's stock valued at $8,369,000 after buying an additional 1,294 shares during the period. Finally, CWA Asset Management Group LLC lifted its holdings in shares of NetApp by 3.6% in the third quarter. CWA Asset Management Group LLC now owns 1,433 shares of the data storage provider's stock worth $301,000 after buying an additional 50 shares in the last quarter. Institutional investors own 92.17% of the company's stock.

Insider Activity at NetApp

In other NetApp news, EVP Elizabeth M. O'callahan sold 1,000 shares of the firm's stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $237.42, for a total transaction of $237,420.00. Following the sale, the executive vice president owned 29,737 shares in the company, valued at $7,060,158.54. This trade represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thomas Nevens sold 5,940 shares of the firm's stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $195.21, for a total value of $1,159,547.40. Following the sale, the director owned 7,747 shares in the company, valued at $1,512,291.87. The trade was a 43.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 173,524 shares of company stock worth $35,018,126 in the last three months. 0.36% of the stock is owned by insiders.

NetApp Stock Performance

Shares of NTAP opened at $209.97 on Wednesday. NetApp, Inc. has a 12-month low of $93.69 and a 12-month high of $240.87. The company has a current ratio of 1.24, a quick ratio of 1.16 and a debt-to-equity ratio of 1.30. The company has a market cap of $41.24 billion, a PE ratio of 29.61, a price-to-earnings-growth ratio of 2.23 and a beta of 1.46. The stock has a 50-day moving average price of $202.37 and a 200-day moving average price of $165.20.

NetApp (NASDAQ:NTAP - Get Free Report) last posted its quarterly earnings data on Wednesday, September 2nd. The data storage provider reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.46. The company had revenue of $2.02 billion for the quarter, compared to analysts' expectations of $1.84 billion. NetApp had a net margin of 19.18% and a return on equity of 119.13%. NetApp's revenue for the quarter was up 29.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.15 earnings per share. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. As a group, equities analysts forecast that NetApp, Inc. will post 8.32 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Friday, October 9th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, October 9th. NetApp's payout ratio is currently 29.34%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on NTAP shares. TD Cowen raised their price objective on shares of NetApp from $200.00 to $250.00 and gave the company a "buy" rating in a research report on Tuesday, October 6th. Bank of America upped their target price on shares of NetApp from $200.00 to $220.00 and gave the stock a "neutral" rating in a report on Wednesday, September 30th. UBS Group upped their target price on shares of NetApp from $160.00 to $171.00 and gave the stock a "neutral" rating in a report on Thursday, September 3rd. Citigroup lowered their target price on shares of NetApp from $209.00 to $190.00 and set a "neutral" rating on the stock in a research note on Thursday, September 3rd. Finally, Morgan Stanley raised their price target on shares of NetApp from $173.00 to $191.00 and gave the company an "equal weight" rating in a report on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $213.20.

NetApp Company Profile

NetApp, Inc is a data infrastructure and cloud storage company that helps organizations manage, protect and access data across on-premises data centers, public clouds and hybrid environments. Its offerings support enterprise applications, artificial intelligence workloads, business analytics, backup and disaster recovery.

The company's portfolio includes all-flash and hybrid-flash storage systems, the ONTAP data management operating system, StorageGRID object storage and Keystone storage-as-a-service.

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