Railway Pension Investments Ltd Grows Position in NetApp, Inc. $NTAP

Railway Pension Investments Ltd boosted its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 70.9% during the 4th quarter, Holdings Channel reports. The firm owned 589,450 shares of the data storage provider’s stock after acquiring an additional 244,600 shares during the quarter. Railway Pension Investments Ltd’s holdings in NetApp were worth $63,124,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Caliber Wealth Management LLC KS grew its position in 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 worth $249,000 after purchasing an additional 100 shares during the last quarter. Park Square Financial Group LLC grew its position in NetApp by 68.7% during the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock worth $29,000 after purchasing an additional 103 shares during the last quarter. Frank Rimerman Advisors LLC grew its position in NetApp by 2.0% during 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 during the last quarter. Transcend Capital Advisors LLC grew its position in NetApp by 5.8% during 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 during the last quarter. Finally, Fifth Third Bancorp grew its position in NetApp by 0.9% during 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 during the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Key Stories Impacting NetApp

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: NetApp reported fiscal Q4 revenue of $1.95 billion, topping estimates and rising 12.5% year over year, while non-GAAP EPS came in at $2.43, also above expectations. NetApp Q4 Earnings and Revenues Top Estimates
• Positive Sentiment: Management issued FY2027 guidance above Wall Street estimates, pointing to revenue of about $7.3 billion-$7.6 billion and EPS of $8.70-$9.00, which supports optimism for continued growth and margin expansion. Why NetApp Stock Soared 35% Friday Morning
• Positive Sentiment: Analysts sharply lifted price targets after the report, including JPMorgan, Bank of America, Citigroup, Wedbush, Susquehanna, Northland, and Wells Fargo, signaling that the earnings beat may lead to higher estimates even if several firms kept neutral or hold-type ratings. Analyst price target updates
• Positive Sentiment: NetApp also announced a quarterly dividend and a new $1 billion share repurchase program, adding to shareholder returns and potentially supporting the stock. NetApp Announces New $1 Billion Share Repurchase Program

NetApp Price Performance

NetApp stock opened at $174.29 on Friday. The company’s fifty day moving average price is $112.46 and its 200 day moving average price is $107.95. NetApp, Inc. has a 1 year low of $93.69 and a 1 year high of $192.83. The stock has a market capitalization of $34.39 billion, a P/E ratio of 27.40, a P/E/G ratio of 3.18 and a beta of 1.28. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.36 and a current ratio of 1.39.

NetApp (NASDAQ:NTAP) last announced 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 during the quarter, compared to analysts’ expectations of $1.87 billion. NetApp had a net margin of 18.43% and a return on equity of 126.01%. 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 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. As a group, equities research analysts anticipate that NetApp, Inc. will post 7.14 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th will be issued a $0.52 dividend. The ex-dividend date is Friday, July 10th. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. NetApp’s dividend payout ratio (DPR) is presently 32.70%.

Analyst Ratings Changes

Several research firms have weighed in on NTAP. Northland Securities boosted their target price on shares of NetApp from $137.00 to $171.00 and gave the stock an “outperform” rating in a research report on Friday. Weiss Ratings downgraded shares of NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 13th. Morgan Stanley increased their price target on shares of NetApp from $88.00 to $137.00 and gave the stock an “underweight” rating in a report on Friday. Bank of America increased their price target on shares of NetApp from $125.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Wells Fargo & Company increased their price target on shares of NetApp from $115.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday. Four analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, NetApp currently has a consensus rating of “Hold” and a consensus price target of $157.50.

Insiders Place Their Bets

In other NetApp news, CAO Lorenzo Daniel De sold 275 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $120.00, for a total value of $33,000.00. Following the transaction, the chief accounting officer owned 1,090 shares in the company, valued at approximately $130,800. This trade represents a 20.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $117.73, for a total value of $117,730.00. Following the completion of the transaction, the executive vice president owned 18,382 shares in the company, valued at $2,164,112.86. The trade was a 5.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,275 shares of company stock worth $347,650 in the last 90 days. 0.28% of the stock is currently owned by insiders.

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.