NetApp, Inc. $NTAP Shares Acquired by Gotham Asset Management LLC

Gotham Asset Management LLC increased its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 16.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 483,487 shares of the data storage provider’s stock after purchasing an additional 68,492 shares during the quarter. Gotham Asset Management LLC’s holdings in NetApp were worth $51,777,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Element Capital Management LLC acquired a new position in shares of NetApp in the 4th quarter valued at $1,187,000. Evolve Private Wealth LLC purchased a new stake in NetApp in the fourth quarter valued at $2,509,000. Engineers Gate Manager LP boosted its stake in NetApp by 179.8% in the fourth quarter. Engineers Gate Manager LP now owns 25,324 shares of the data storage provider’s stock valued at $2,712,000 after acquiring an additional 16,272 shares in the last quarter. Capitolis Liquid Global Markets LLC acquired a new position in NetApp in the fourth quarter valued at $11,352,000. Finally, Balyasny Asset Management L.P. purchased a new position in shares of NetApp during the fourth quarter worth about $339,000. 92.17% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at NetApp

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction dated Monday, May 11th. The shares were 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 of the company’s stock, valued at $2,164,112.86. This represents a 5.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 transaction of $33,000.00. Following the completion of the sale, the chief accounting officer owned 1,090 shares of the company’s stock, valued at approximately $130,800. The trade was a 20.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 3,500 shares of company stock worth $448,955. Company insiders own 0.28% of the company’s stock.

Analyst Ratings Changes

NTAP has been the subject of several research reports. Susquehanna boosted their target price on NetApp from $110.00 to $185.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Argus raised their price target on NetApp from $130.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. Morgan Stanley boosted their price objective on NetApp from $88.00 to $137.00 and gave the company an “underweight” rating in a research note on Friday, May 29th. Wedbush increased their price objective on NetApp from $115.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Finally, Citigroup raised their target price on shares of NetApp from $114.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Five analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $169.33.

NetApp Trading Down 4.0%

Shares of NTAP stock opened at $154.81 on Thursday. The company has a market capitalization of $30.33 billion, a P/E ratio of 24.34, a price-to-earnings-growth ratio of 2.95 and a beta of 1.45. 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 business’s 50 day moving average is $129.32 and its two-hundred day moving average is $113.33. NetApp, Inc. has a twelve month low of $93.69 and a twelve month high of $192.83.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.24). The company 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%.NetApp’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the prior year, the business 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. Equities analysts forecast that NetApp, Inc. will post 7.16 EPS for the current year.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Friday, July 10th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, July 10th. NetApp’s payout ratio is 32.70%.

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.