Robinhood Asset Management LLC Takes Position in NetApp, Inc. $NTAP

Robinhood Asset Management LLC purchased a new position in NetApp, Inc. (NASDAQ:NTAP) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 42,840 shares of the data storage provider’s stock, valued at approximately $4,588,000.

Other large investors have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its stake in NetApp by 4.9% in the third quarter. Envestnet Asset Management Inc. now owns 432,772 shares of the data storage provider’s stock worth $51,266,000 after buying an additional 20,089 shares in the last quarter. Citigroup Inc. boosted its position in NetApp by 216.1% during the 3rd quarter. Citigroup Inc. now owns 927,525 shares of the data storage provider’s stock valued at $109,875,000 after acquiring an additional 634,085 shares in the last quarter. National Pension Service grew its holdings in shares of NetApp by 26.0% during the 3rd quarter. National Pension Service now owns 159,274 shares of the data storage provider’s stock worth $18,868,000 after acquiring an additional 32,833 shares during the period. J. Safra Sarasin Holding AG raised its position in shares of NetApp by 496.7% in the 3rd quarter. J. Safra Sarasin Holding AG now owns 18,168 shares of the data storage provider’s stock worth $2,152,000 after acquiring an additional 15,123 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd raised its position in shares of NetApp by 515.1% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 115,757 shares of the data storage provider’s stock worth $13,713,000 after acquiring an additional 96,937 shares in the last quarter. Institutional investors own 92.17% of the company’s stock.

Insider Buying and Selling at NetApp

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $100.67, for a total transaction of $100,670.00. Following the completion of the sale, the executive vice president owned 20,382 shares of the company’s stock, valued at $2,051,855.94. This trade represents a 4.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 3,000 shares of company stock worth $309,610 over the last ninety days. 0.28% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

NTAP has been the topic of several research reports. The Goldman Sachs Group assumed coverage on NetApp in a research report on Tuesday, January 13th. They set a “buy” rating and a $128.00 price target on the stock. Citigroup upped their target price on shares of NetApp from $110.00 to $114.00 and gave the stock a “neutral” rating in a research report on Monday, March 2nd. Weiss Ratings cut shares of NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 13th. Finally, Wedbush reissued a “neutral” rating and set a $115.00 price objective on shares of NetApp in a research note on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, NetApp currently has an average rating of “Hold” and a consensus price target of $122.42.

NetApp Trading Down 2.4%

NetApp stock opened at $100.90 on Tuesday. NetApp, Inc. has a 12 month low of $71.84 and a 12 month high of $126.66. The company has a market capitalization of $19.91 billion, a price-to-earnings ratio of 16.87, a price-to-earnings-growth ratio of 3.20 and a beta of 1.30. The business’s fifty day simple moving average is $100.96 and its two-hundred day simple moving average is $108.56. The company has a current ratio of 1.39, a quick ratio of 1.36 and a debt-to-equity ratio of 2.15.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Thursday, February 26th. The data storage provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.05. NetApp had a return on equity of 118.11% and a net margin of 18.07%.The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period last year, the company earned $1.91 earnings per share. The company’s revenue was up 4.4% on a year-over-year basis. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. As a group, equities analysts predict that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Friday, April 3rd will be issued a dividend of $0.52 per share. The ex-dividend date is Thursday, April 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.1%. NetApp’s dividend payout ratio is presently 34.78%.

NetApp 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.