United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Takes $13.27 Million Position in NetApp, Inc. $NTAP

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new stake in shares of NetApp, Inc. (NASDAQ:NTAP) during the 4th quarter, Holdings Channel.com reports. The fund purchased 123,924 shares of the data storage provider’s stock, valued at approximately $13,271,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Caliber Wealth Management LLC KS lifted its holdings in shares of NetApp by 5.0% during the 3rd quarter. Caliber Wealth Management LLC KS now owns 2,100 shares of the data storage provider’s stock valued at $249,000 after buying an additional 100 shares during the period. Park Square Financial Group LLC lifted its holdings in shares of NetApp by 68.7% during the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock valued at $29,000 after buying an additional 103 shares during the period. Frank Rimerman Advisors LLC increased its stake in shares of NetApp by 2.0% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 5,526 shares of the data storage provider’s stock worth $655,000 after purchasing an additional 106 shares in the last quarter. Transcend Capital Advisors LLC increased its stake in shares of NetApp by 5.8% in the 4th quarter. Transcend Capital Advisors LLC now owns 1,953 shares of the data storage provider’s stock worth $209,000 after purchasing an additional 107 shares in the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of NetApp by 0.9% in the 4th quarter. Fifth Third Bancorp now owns 12,559 shares of the data storage provider’s stock worth $1,345,000 after purchasing an additional 108 shares in the last quarter. 92.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on NTAP. Wedbush restated a “neutral” rating and issued a $115.00 price objective on shares of NetApp in a research note on Wednesday, February 25th. Citigroup lowered NetApp from a “neutral” rating to a “mixed” rating in a research note on Thursday, May 14th. Bank of America upped their price objective on NetApp from $118.00 to $125.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 20th. JPMorgan Chase & Co. lowered NetApp from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $125.00 to $110.00 in a research note on Thursday, April 16th. Finally, Wall Street Zen lowered NetApp from a “buy” rating to a “hold” rating in a research note on Sunday, April 19th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $122.27.

NetApp News Summary

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: NetApp reported quarterly revenue of $1.95 billion, above consensus, and raised FY2027 and Q1 FY2027 guidance for both EPS and revenue, signaling better-than-expected business momentum.
• Positive Sentiment: The board authorized a new $1 billion share repurchase program, which can support the stock by returning capital to shareholders and reducing share count. Article Title
• Neutral Sentiment: Analyst commentary ahead of earnings highlighted expectations for a strong quarter and noted a recent Google Cloud award, but this appears secondary to the actual results and guidance. Article Title
• Negative Sentiment: Despite strong revenue growth, NetApp’s EPS of $2.03 missed the $2.27 consensus, which likely explains why investors initially reacted cautiously to the report.
• Negative Sentiment: Some broader commentary has pointed to pressure from slower IT spending and cloud-related competition, which could weigh on sentiment even as the company’s near-term outlook improved. Article Title

Insider Transactions at NetApp

In related news, CAO Lorenzo Daniel De sold 275 shares of the 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 completion of the transaction, the chief accounting officer owned 1,090 shares of the company’s stock, valued at approximately $130,800. This trade represents a 20.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 approximately $2,164,112.86. The trade was a 5.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 3,275 shares of company stock valued at $347,650. 0.28% of the stock is owned by insiders.

NetApp Trading Down 0.2%

Shares of NetApp stock opened at $142.40 on Friday. The firm has a market cap of $28.10 billion, a price-to-earnings ratio of 23.81, a PEG ratio of 2.60 and a beta of 1.28. The business has a 50-day moving average price of $110.99 and a 200-day moving average price of $107.48. The company has a quick ratio of 1.36, a current ratio of 1.39 and a debt-to-equity ratio of 2.15. NetApp, Inc. has a twelve month low of $93.69 and a twelve month high of $143.65.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Thursday, May 28th. The data storage provider reported $2.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.24). The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.87 billion. NetApp had a net margin of 18.07% and a return on equity of 118.11%. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $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. Equities research analysts anticipate that NetApp, Inc. will post 6.48 EPS for the current fiscal year.

NetApp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Investors of record on Friday, July 10th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.5%. NetApp’s dividend payout ratio (DPR) is presently 34.78%.

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.